Illustrate what happens to equilibrium income

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Q. Marginal propensity to consume (b) of 0.6 and a marginal propensity to import (m) of 0.2. Government increases its spending by $2 billion and raises taxes by $1billion. Illustrate what happens to equilibrium income?

Q. size of labour force in a community is 1,000 and 850 of se folks are gainfully employed. In this community, 50 people over age of 16 do not have a job and are not looking for work. In addition, 80 people in community are under age of 16. Unemployment rate is:

Reference no: EM1367940

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Illustrate what happens to equilibrium income : Government increases its spending by $2 billion and raises taxes by $1billion. Illustrate what happens to equilibrium income.

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