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This is the information I was given on my assignment: Use the information below to answer the following questions for a two sector economy: C
This is the information I was given on my assignment:
Use the information below to answer the following questions for a two sector economy:
C = 950 + 0.3 Y
I = 30
where: C is consumption
I is investment
Y is Income
AE is aggregate expenditure
Ye isEquilibrium income
These are the questions I have to answer:
The value of consumption when Y=500 is ?
What is the value of Ye?
What is the value of the multiplier?
The value of savings when Y=400 is?
What is the value of AE when Y=200?
How do I solve these?
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