Question: answer the questions with proper explanations and make it large. [6 points] Under which circumstances, the change in autonomous demand equals the change in income?

answer the questions with proper explanations and make it large. [6

answer the questions with proper explanations and make it large.

[6 points] Under which circumstances, the change in autonomous demand equals the change in income? [7 points] Show that injection must be equal to leakage in equilibrium for a hypothetical autarky economy (both algebraically and graphically). [7 points] How does any deviation between actual output and full-employment level of output change the budget deficit? (use both algebra and graph)

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.