17. Consider the following income/expenditure diagram in the simple Keynesian model. C,I,G, (S,T) Y=C+S+T C+I+G At Yo. the situation in the output market would be a. equilibrium b. excess demand (shortage) c. excess supply (surplus) d. one in which we would expect output to increase in the future. e. none of the above.

17. Consider the following income/expenditure diagram in the simple Keynesian model. C,I,G, (S,T) Y=C+S+T C+I+G At Yo. the situation in the output market would be a. equilibrium b. excess demand (shortage) c. excess supply (surplus) d. one in which we would expect output to increase in the future. e. none of the above.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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