16. Given the following Consumption Function as C = 350 + 0.75 (Y) ; and actual equilibrium real GDP as $700 ; and full-employment real GDP as $800. The amount of taxes that need to be cut to close up such GDP gap is: -$30.33 cannot be computed based on information provided -$35.33 -$33.33 O -$37.33

16. Given the following Consumption Function as C = 350 + 0.75 (Y) ; and actual equilibrium real GDP as $700 ; and full-employment real GDP as $800. The amount of taxes that need to be cut to close up such GDP gap is: -$30.33 cannot be computed based on information provided -$35.33 -$33.33 O -$37.33

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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