Refer to problem 1. If autonomous consumption decreases by $1000. The new equilibrium level of income will be equal to * O $5000 O $-5000 O $47000 $37000

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Problem 1
Given the following data for a closed economy
I= 3400 Planned Investment
G=4000 Government Spending
C= 3,800 + 0.8 Yd Consumption function
T= 1000 Taxes
Transcribed Image Text:Problem 1 Given the following data for a closed economy I= 3400 Planned Investment G=4000 Government Spending C= 3,800 + 0.8 Yd Consumption function T= 1000 Taxes
Refer to problem 1. If autonomous consumption decreases by $1000. The new
equilibrium level of income will be equal to *
O $5000
O $-5000
O $47000
$37000
Transcribed Image Text:Refer to problem 1. If autonomous consumption decreases by $1000. The new equilibrium level of income will be equal to * O $5000 O $-5000 O $47000 $37000
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