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L [16 Points) Heartland is a closed private coonomy. The consumption expenditure (C) function for this economy is C - $860 +0.75Y and investment expenditure
L [16 Points) Heartland is a closed private coonomy. The consumption expenditure (C) function for this economy is C - $860 +0.75Y and investment expenditure (I) is fixed at $740. 1. Present Heartland's appregate expenditure (AE) function on a well-labeled diagram. Be sure to clearly indicate the intercept and the slope of this AE function on your diagram. 2. What is the equilibrium level of aggregate income (Y) in Heartland? . Give a specific numerical answer and show clearly how you found it. Demonstrate this equilibrium income (Y) on your diagram drawn in part I above.What is the break even level of apgregate income (7) in Heartland? Give a specific numerical arewer and show clearly how you have found it. Demonstrate this break-even applegate income in forms of the consumption expenditure (C) schedule on a well -labeled diagram. State the nuprepale saving (3) function for the economy of Heartland and present it on a well-labeled diagram. Be mus to indicate the intercept as well on the slope of this saving (5) function. Also, show the tresh even point and the break even level of appregale income () In terms of the saving (5) schedule on your diagram
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