Suppose the aggregate expenditure schedule for an economy is given by the equation: AE = 800 + 0.8Y Where AE represents the aggregate expenditure and Y represents the national income (output) level. Calculate the equilibrium level of national income in this economy.
Suppose the aggregate expenditure schedule for an economy is given by the equation: AE = 800 + 0.8Y Where AE represents the aggregate expenditure and Y represents the national income (output) level. Calculate the equilibrium level of national income in this economy.
Chapter15: Gross Domestic Product
Section: Chapter Questions
Problem 8SQP
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Suppose the aggregate expenditure schedule for an economy is given by the equation:
AE = 800 + 0.8Y
Where AE represents the aggregate expenditure and Y represents the
Calculate the equilibrium level of national income in this economy.
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