The following are exogenous (not directly affected by income): G = 9 I = 14 X = M = 0 The consumption function is: C = k + cY, where k = 8, c = 0.6 at the point where this economy is in equilibrium what is the total level of withdrawals? Give the number to ONE decimal place.
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The following are exogenous (not directly affected by income):
G = 9
I = 14
X = M = 0
The consumption function is:
C = k + cY, where k = 8, c = 0.6
at the point where this economy is in equilibrium what is the total level of withdrawals? Give the number to ONE decimal place.
Given,
C = 8 + 0.6Y,
G = 9
I = 14
X = M = 0
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