(Answered) Cnsider a closed economy described as followsy c i gy

Engineering

Consider a closed economy described as follows:

Y = C + I + G

Y = 8000

G = 2500

T = 2000

C = 1000 + 2/3*( Y - T )

I = 1200 - 100*r

Compute the following:

a. Private saving

b. Public saving

c. National saving

d. Equilibrium interest rate

e. If government spending increases to 2800, how does this affect the equilibrium interest rate?

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