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QUESTION 1 Consider planned aggregate expenditure model (in a closed economy and lump-sum taxes): planned investment, I = $1 trillion; government spending G=$2 trillion;

QUESTION 1 Consider planned aggregate expenditure model (in a closed economy and lump-sum taxes): planned investment, I = $1 trillion; government spending G=$2 trillion; Taxes are equal to $2.5 tillion; the consumption function, C(Y-T)- $2trillion +0.8(Y-T). What is the equilibrium level of output? $2.4 trillion $4 trillion $12 trillion $15 trillion $20 trillion $22 trillion

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