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Q3. In a closed economy with no government intervention, the following information is provided. C = 5000 + 0.8Y Autonomous investment is constant at 3000

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Q3. In a closed economy with no government intervention, the following information is provided. C = 5000 + 0.8Y Autonomous investment is constant at 3000 units. Induced investment is given by the equation I = 0.1Y i) At what level of income will S = I? {5 marks) ii) Suppose that autonomous investment was to increase by 2000 units. At what level of income would S =1

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