Answer to Question #133786 in Macroeconomics for Precious

Question

You’re given the following information about the close economy with no government:

Congratulation = 115 + 0.6Y
Investment = 550
Use the above information to answer the questions that follows:

4.1 calculate the value of autonomous spending.
4.2 calculate the value of the multiplier.
4.3 calculate the equilibrium level of income.
4.4 is the equilibrium level of income also the full employment level of income? Explain your answer.
4.5 identify any three non-income determinants of consumption.

Answer 1

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