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Q2. (a) In a State of Sunshine, during the 2020 fiscal year, households spent 75% of their disposable income on consumption in addition to $50m

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Q2. (a) In a State of Sunshine, during the 2020 fiscal year, households spent 75% of their disposable income on consumption in addition to $50m consumption expenditure independent of income. Total private investment stood at $60m, total government expenditure stood at $20m and exports and imports were $40m and $30m respectively. Find the equilibrium level of: i . Income ii. Consumption ill. Savings

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