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Calculate the equilibrium level of income

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Reference no: EM132066107

C = 30 + 0.9(Y + TR - T)

I = 800

G = 1200

TR = 1800

T = 0.2Y note: there is an income tax rate of 20% of gross income.

X = 200

IM = 350

Calculate the equilibrium level of income.

Calculate the level of Savings at the equilibrium level of Income.

Calculate the government budget. Specify whether it is in deficit or surplus and by how much.

Reference no: EM132066107

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