Question: Question 3 (1 point) Suppose a closed economy generates $3000 output and income in equilibrium. Suppose also that the government spends 350 and imposes a

Question 3 (1 point) Suppose a closed economy generates $3000 output

and income in equilibrium. Suppose also that the government spends 350 and

Question 3 (1 point) Suppose a closed economy generates $3000 output and income in equilibrium. Suppose also that the government spends 350 and imposes a lump-sum tax of 250. By how much is the government in deficit? (round your answer to the nearest whole value) Your Answer: Answer Question 4 (1 point) Suppose a closed economy has an aggregate consumption function given by C = 50 + 0.75Yd and generates $2600 output and income in equilibrium. Suppose also that the government spends 300 and imposes a lump-sum tax of 100. What is the level of intended investment? (round your answer to the nearest whole value) Your Answer: Answer D View hint for Question 4

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