Refer to the information provided in Figure 24.1 below to answer the question(s) that follow. Figure 24.1
-Refer to Figure 24.1. Suppose that the consumption function is C = 400 + 0.5Yd and taxes are $200 billion, at equilibrium the value of autonomous consumption is

Question

Refer to the information provided in Figure 24.1 below to answer the question(s) that follow.  Figure 24.1
-Refer to Figure 24.1. Suppose that the consumption function is C = 400 + 0.5Yd and taxes are $200 billion, at equilibrium the value of autonomous consumption is

Quizplus · Accepted Answer

The equilibrium level of autonomous consumption is $400 billion. This is because autonomous consumption is the level of consumption that does not depend on income. In this case, the consumption function is C = 400 + 0.5Yd, which means that autonomous consumption is $400 billion.

Refer to the Information Provided in Figure 24