Consider the following information describing an economy with demand-determined output. There is no government or foreign trade.1. the equilibrium condition is Y=C+/2. the marginal propensity to save = 0.203. the autonomous part of C is $664. investment is autonomous and equals $30The equilibrium level of national income isA. $66.B. $384.25.7C. $450.D. $120.E. $480.

Aggregate expenditure is the sum of consumption and investment. Consumption function is the sum of…

Consider the following information describing an economy with demand-determined output. There is no government or foreign trade. 1. the equilibrium condition is Y=C+I 2. the marginal propensity to save = 0.20 3. the autonomous part of C is $66 4. investment is autonomous and equals $30 The equilibrium level of national income is O A. $66. 7 O C. $450. O D. $120. O E. $480. OB. $384.25. C

Consider the following information describing an economy with demand-determined output. There is no government or foreign trade. 1. the equilibrium condition is Y=C+I 2. the marginal propensity to save = 0.20 3. the autonomous part of C is $66 4. investment is autonomous and equals $30 The equilibrium level of national income is O A. $66. 7 O C. $450. O D. $120. O E. $480. OB. $384.25. C

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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