Consider the following information describing a closed economy with nogovernment and where aggregate output is demand determined. Alldollar figures are in billions.1. the equilibrium condition is Y=C+I2.3.4.the marginal propensity to consume is 0.25the autonomous part of C is $300investment is autonomous and is $40TABLE 21-4Refer to Table 21-4. The equilibrium level of national incomeA. $160.OB. $93.OC. $70.OD. $120.OE. $280.

Equilibrium condition Y = C + I Marginal Propensity to consume = 0.25 Consumption = $300 Investment…

Consider the following information describing a closed economy with no government and where aggregate output is demand determined. All dollar figures are in billions. 1. the equilibrium condition is Y=C+I 2. 3. the autonomous part of C is $300 4. investment is autonomous and is $40 the marginal propensity to consume is 0.25 TABLE 21-4

Consider the following information describing a closed economy with no government and where aggregate output is demand determined. All dollar figures are in billions. 1. the equilibrium condition is Y=C+I 2. 3. the autonomous part of C is $300 4. investment is autonomous and is $40 the marginal propensity to consume is 0.25 TABLE 21-4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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