where: C= $100+ 0.75 (Y-T) G=$600 T= $600 1= $200 X = $ 50 The economy is in equilibrium at a level of real GDP or income of $ Now suppose that the government decides to increase goverment spending by $50 What is the new equilibrium level of GDP or income? $(Round your answer to the nearest dollar) (Round your answer to the nearest dollar)

where: C= $100+ 0.75 (Y-T) G=$600 T= $600 1= $200 X = $ 50 The economy is in equilibrium at a level of real GDP or income of $ Now suppose that the government decides to increase goverment spending by $50 What is the new equilibrium level of GDP or income? $(Round your answer to the nearest dollar) (Round your answer to the nearest dollar)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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