If C = $500 billion + .6Y, then, if Y = $1,000 billion, induced consumption will be equal to $1,100 billion.

Name: If C = $500 billion + .6Y, then, if Y = $1,000 billion, induced consumption will be equal to $1,100 billion.
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Induced consumption is the part of consumption that changes with income, calculated as .6Y. For Y = $1,000 billion, induced consumption is .6 * $1,000 billion = $600 billion.

If C = $500 Billion