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Question 2 Given that: C = 250 + 0.75Y. T = 60 G = 300 1 = 250 Where C is consumption function, T is

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Question 2 Given that: C = 250 + 0.75Y. T = 60 G = 300 1 = 250 Where C is consumption function, T is taxation, G is government expenditure and I is investment functions faced by Country X in a certain year. Based on above information, calculate: (a) Equilibrium National Income of Country X - 4 marks (b) Value of expenditure multiplier (k) - 2 marks

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