Question: Suppose that a = 1,000, b = 0.65, T = 700, I p = 800, G = 600, and NX = 200. Calculate the equilibrium

Suppose that a = 1,000, b = 0.65, T = 700, I^p = 800, G = 600, and NX = −200. Calculate the equilibrium level of real GDP. Then check that the equilibrium value equals aggregate expenditure.

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Y a b T I P G NX 1 b 1000 065 x 700 800 600 200 1 065 498... View full answer

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