You are given the following information about a closed economy with no government:Consumption = 115 + 0.6YInvestment = 550Use the above information to answer the questions that follow:Calculate the value of autonomous spending. Calculate the value of the multiplier. Calculate the equilibrium level of income.

MACROECONOMICS
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ISBN:9781337794985
Author:Baumol
Publisher:Baumol
Chapter9: Demand-side Equilibrium: Unemployment Or Inflation?
Section9.A: The Simple Algebra Of Income Determination And The Multiplier
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You are given the following information about a closed economy with no government:Consumption = 115 + 0.6YInvestment = 550Use the above information to answer the questions that follow:Calculate the value of autonomous spending. Calculate the value of the multiplier. Calculate the equilibrium level of income.

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