Short Answer
Given the following parameters for the economy of North Happin:
a)What is the value of equilibrium income?
b)What is the value of the government budget at equilibrium income? Suppose $4,000 is the full employment level of income for North Happin.
c)By how much should the government of North Happin change G to reach full employment? Cannot calculate with the new consumption function
Correct Answer:
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a)$3,750
b)Budget su...View Answer
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Correct Answer:
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b)Budget su...
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