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Suppose the economy of Hope is represented by the following equations: Z=C+I+G C=500+0.SYD T = 200 YD=Y-T I = 300 Given the above variables,

Suppose the economy of Hope is represented by the following equations: Z=C+I+G C=500+0.SYD T = 200 YD=Y-T I = 300 Given the above variables, calculate the equilibrium level of output. Now, assume that government spending increases from 1500 to 1600. How much does income change as a result of this event? G = 1500

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