Assume the following for the economy of a country: • Consumption function: C = 60 +0.75Yd • Investment: 1 = 77 . Government spending: G = 53 .Net taxes: T=0.2Y-25 • Disposable income: Y =Y-T • Equilibrium: Y=C+I+G Equilibrium income is $ (Round your response to one decimal place.)

Assume the following for the economy of a country: • Consumption function: C = 60 +0.75Yd • Investment: 1 = 77 . Government spending: G = 53 .Net taxes: T=0.2Y-25 • Disposable income: Y =Y-T • Equilibrium: Y=C+I+G Equilibrium income is $ (Round your response to one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

#2
Assume the following for the economy of a country:
• Consumption function: C = 60 +0.75Yd
• Investment: 1 = 77
• Government spending: G = 53
.Net taxes: T=0.2Y-25
• Disposable income: Y =Y-T
Equilibrium: Y=C+I+G
Equilibrium income is $
(Round your response to one decimal place.)

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