The equations below show some macroeconomic information for the economy of Nightwing. All autonomous values are in
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Question:
The equations below show some macroeconomic information for the economy of Nightwing. All autonomous values are in billions of dollars.
C = 120 + 0.75YD
T = 12 + 0.06Y
I = 390
G = 191.5
XN= 540 - 0.13Y
Notice that the consumption function (C) is written in terms of disposable income (YD). You will need to bit of substitution to get rid of the YDand replace it with Y.
A.The value of equilibrium national income is $Answer
billion.Hint:this will be a whole number. No rounding required.
B.At equilibrium national income, the government will have a budget Answer
surplusdeficit of $Answer
billion.Hint:this value will have exactly one decimal point. Do not round.
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