Question: C = 160+0.6Yd I = 150 G = 150 T = 100 Solve for a) Equilibrium GDP (Y) b) Disposable income c) Consumption spending Solve

C = 160+0.6Yd

I = 150

G = 150

T = 100

Solve for

a) Equilibrium GDP (Y)

b) Disposable income

c) Consumption spending

Solve for

d) equilibrium output, total demand, is it equal to production?

e) assume that G is now equal to 110, solve for equilibrium output, calculate total demand

f) Assume that G =110, so output is given by answer to e). Calculate private plus public saving. Is it equal to investment?

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