The following is information for the economy of Tandor, where taxes are wholly autonomous: C 60+ 0.75YD where YD= (Y - T) I = 120 a. The value of equilibrium income is $ b. At equilibrium, the amount of the budget (Click to select) is $ c. If government increased both its spending and taxes by $40, the new equilibrium income would be $ G = T = 340 XN = 105 - 0.15Y

The following is information for the economy of Tandor, where taxes are wholly autonomous: C 60+ 0.75YD where YD= (Y - T) I = 120 a. The value of equilibrium income is $ b. At equilibrium, the amount of the budget (Click to select) is $ c. If government increased both its spending and taxes by $40, the new equilibrium income would be $ G = T = 340 XN = 105 - 0.15Y

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Fiscal Policy and Money Market

Fiscal policy is one of the important tools that is used by the government to control inflation or aggregate demand in the economy. Under this policy, there are two rules which are used by the government, one is the expenditure of the government and the other is the taxation or income of the government which it collects from the public.

Question

The following is information for the economy of Tandor, where taxes are wholly autonomous:
C 60+ 0.75YD where YD= (Y - T)
I = 120
a. The value of equilibrium income is $
b. At equilibrium, the amount of the budget (Click to select) is $
c. If government increased both its spending and taxes by $40, the new equilibrium income would be $
G = T = 340
XN = 105 - 0.15Y
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