Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the Keynesian-cross analysis, if the consumption function is given by C = 80 + 0.8 ( Y - T ), planned investment is 300,

In the Keynesian-cross analysis, if the consumption function is given by C = 80 + 0.8 (Y - T), planned investment is 300, G is 100, and T is 100, then equilibrium Y is ?

Please double check answer if correct and explain the solution

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations of Mathematical Economics

Authors: Michael Carter

1st edition

262531925, 978-0262531924

More Books

Students also viewed these Economics questions

Question

Outline Aristotles positions on memory, sensing, and motivation.

Answered: 1 week ago

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago