Assume an economy has a consumption function of C = 0.87 (Yd) + $270.18. Additionally, this economy has investment spending= $878.78, government purchases $299.38, taxes = $111.59, exports $209.28, and imports = $289.40. What is the equilibrium level of GDP based on this information? Round your answer to two digits after the decimal. =

Assume an economy has a consumption function of C = 0.87 (Yd) + $270.18. Additionally, this economy has investment spending= $878.78, government purchases $299.38, taxes = $111.59, exports $209.28, and imports = $289.40. What is the equilibrium level of GDP based on this information? Round your answer to two digits after the decimal. =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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