(Answered) Can you please help me calculate the answers to the

Management Studies

Can you please help me calculate the answers to the questions below showing the equations and work so that I can help understand.

Assume that the consumption schedule for a private open economy is such that consumption C = 20 + 0.80Y. Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP and constant at Ig = 40, G and Xn = 10. Recall also that, in equilibrium, the real output produced (Y) is equal to aggregate expenditures: Y = C + Ig + G+ Xn.

Calculate the equilibrium level of income or real GDP for this economy.What happens to equilibrium Y if G changes to 20? What does this outcome reveal about the size of the multiplier? What does this outcome reveal about the impact of fiscal policy?

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