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Economy fundamental macroeconomic parameters

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Reference no: EM132476416

The following data summarizes a national economy's fundamental macroeconomic parameters:

1. Household consumption spending, C= 20+0.8Yd

2. Planned business investment spending, I = 5

3. Public sector expenditure, G = 10

4. Taxes are: T = To+tY = 5+0.5Y

5. Exports, X = 14

6. Imports, M = 1+1/5Y

Using the demand determined model of equilibrium GDP, compute this economy's equilibrium level of income.

Reference no: EM132476416

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