Given a hypothetical consumption function of the form:
Y = C + I0 + G0
C = α + β
Where: = Y – T
Y = Income
T = Taxes and that:
Compute the equilibrium level of income and consumption
1
Expert's answer
2015-06-24T08:38:38-0400
Answer on Question #53145, Programming / Other
If Y = C + I0 + G0, C = α + β(Y - T), then the equilibrium level of income will be Y = α + β(Y - T) = I0 + G0 and consumption C = α + β(Y - T) = Y - I0 - G0
Numbers and figures are an essential part of our world, necessary for almost everything we do every day. As important…
APPROVED BY CLIENTS
"assignmentexpert.com" is professional group of people in Math subjects! They did assignments in very high level of mathematical modelling in the best quality. Thanks a lot
Comments
Leave a comment