Calculate the equilibrium value of real gdp

Reference no: EM13204119

The table reports data on real GDP, consumption, investment, government spending, and aggregate expenditures for a closed economy with fixed taxes. Use the information in the table to answer the following questions. Values are in billions of dollars.

Real GDP Consumption Investment Government Spending Expenditures
(Y) (C) (I) (G) (C + I + G)
$120 $100 $50 $30 $180
$240 $160 $50 $30 $240
$360 $220 $50 $30 $300
$480 $280 $50 $30 $360
$600 $340 $50 $30 $420

1) Calculate the equilibrium value of real GDP

Reference no: EM13204119

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