The Letters Y,C,Ig,X,and M Stand for GDP,consumption,gross Investment,exports,and Imports Respectively
The letters Y,C,Ig,X,and M stand for GDP,consumption,gross investment,exports,and imports respectively.Figures are in billions of dollars.
C = 26 + .75Y
Ig = 60
X = 24
M = 10
-Refer to the above information.If the economy's tax schedule was T = 0.2Y rather than T = T0 = 30,the equilibrium GDP would be:
A) $387.3.
B) $518.5.
C) $316
D) $412
Correct Answer:
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