Suppose that the economy is characterized by the following, Ask an Expert

Economics

Suppose that the economy is characterized by the following behavioral equations:
C= 170 + 0.7YD
I= 170
G= 150
T= 100

a. What does equilibrium output equal?
Y=?

b. What does total demand equal?
Z=?

c. Total demand is (greater than/equal to/ less than) production

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9605042

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