The following information is consumption and investment data for a private closed economy.Figures are in billions of dollars.
C = 60 + .6Y
I = I 0 = 30
-Refer to the above data.In equilibrium,the level of saving will be:

Question

Quizplus · Accepted Answer

In a private closed economy, equilibrium occurs where savings (S) equals investment (I). Given I = 30, savings must also be 30 in equilibrium.

The Following Information Is Consumption and Investment Data for a Private