-Refer to the above information to answer this question.What is the value of equilibrium income in this economy?
A)$3,000.
B)$4,000.
C)$6,000.
D)$1,050.
E)$1,200.

Question

-Refer to the above information to answer this question.What is the value of equilibrium income in this economy?
A)$3,000. 
B)$4,000. 
C)$6,000. 
D)$1,050. 
E)$1,200.

Quizplus · Accepted Answer

Without the specific information provided in the "above information" mentioned in the question, it's impossible to accurately determine the value of equilibrium income in the economy. However, based on common economic principles, equilibrium income is the level of income where aggregate demand equals aggregate supply, or where planned spending equals actual output. Without the specific details, such as the consumption function, investment level, government spending, and net exports, a precise answer cannot be provided. The choice of C) $6,000 is arbitrary without the context of the question's details.

-Refer to the Above Information to Answer This Question