Multiple Choice
The next questions refer to the following simple Keynesian model.
Suppose C = 1000 + .9Y, G = 400, I = 100, (X - IM) = 0, and there are no income taxes.
-The equilibrium level of national income is
A) 15,000
B) 13,500
C) 1,500
D) 5,000
E) 4,500
Correct Answer:
Verified
Correct Answer:
Verified
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