Consumption function: C = 60+ 0.75Y * Investment: 1 = 90 • Government spending: G = 52 • 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.) In equilibrium, the government collects net taxes of (Round your response to one decimal place.) $ In equilibrium, the government's budget deficit or surplus is $. (Round your response to one decimal

Consumption function: C = 60+ 0.75Y * Investment: 1 = 90 • Government spending: G = 52 • 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.) In equilibrium, the government collects net taxes of (Round your response to one decimal place.) $ In equilibrium, the government's budget deficit or surplus is $. (Round your response to one decimal

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

Consumption function: C = 60 +0.75Yd
• Investment: 1 = 90
• Government spending: G = 52
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.)
In equilibrium, the government collects net taxes of
(Round your response to one decimal place.)
$
In equilibrium, the government's budget deficit or
surplus is $. (Round your response to one decimal

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