What is rubinlands equilibrium output

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Reference no: EM13203343

Rubinland is a small island economy that has no taxes, no transfer payments, no government purchases, no exports, and no imports. Rubinland's economy is represented by the following equations:

C = 5,000 + 0.6Y
I = 5,000

where C represents consumption, I represents planned investment, and Y represents aggregate income.

What is Rubinland's equilibrium output?

Reference no: EM13203343

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