Answer three questions including question #1. Present your work properly and neatly. All operationsleading to an answer must be shown. Your work must be done independently. Any violation of thisrequirement will be penalized. You will earn extra 2 points if you answer question #3 satisfactorily.(1)The following macroeconomic model describes the economy of CSILAND.Y = C+1+G + NX.....C = 220 +0.60 Y...| = 1000 - 2000R....G = Go....(1)(2).(3)(4)(5)%3D%3DNX = 525 - 0.10Y - 500R..(a)Write the expression for equilibrium real output, Y.(b)Suppose real interest is 10% and government spending is 1200, determinethe value of equilibrium real output.(c)For this economy, find the level of consumption (C), investment (I), and net export (NX).(d)ls there evidence of a twin deficit in CSILAND given that tax revenue is 15% of aggregatareal output? Explain.

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(1)The following macroeconomic model describes the economy of CSILAND. Y = C+1+G + NX... .. C = 220 + 0.60 Y.... | = 1000 - 2000R.. G = Go.... NX = 525 - 0.10Y 500R... (1) .(2) ..(3) (4) ..(5) (a)Write the expression for equilibrium real output, Y. (b)Suppose real interest is 10% and government spending is 1200, determine the value of equilibrium real output. (c)For this economy, find the level of consumption (C), investment (I), and net export (NX). (d)ls there evidence of a twin deficit in CSILAND given that tax revenue is 15% of aggregat real output? Explain.

(1)The following macroeconomic model describes the economy of CSILAND. Y = C+1+G + NX... .. C = 220 + 0.60 Y.... | = 1000 - 2000R.. G = Go.... NX = 525 - 0.10Y 500R... (1) .(2) ..(3) (4) ..(5) (a)Write the expression for equilibrium real output, Y. (b)Suppose real interest is 10% and government spending is 1200, determine the value of equilibrium real output. (c)For this economy, find the level of consumption (C), investment (I), and net export (NX). (d)ls there evidence of a twin deficit in CSILAND given that tax revenue is 15% of aggregat real output? Explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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