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19 February, 22:33

Given the equations for c, i, g, and nx below, what is the equilibrium level of gdp? c = 1,000 + 0.8y i = 1,500 g=1,250 nx = 100

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  1. 19 February, 23:06
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    equilibrium level of gdp is 19,250.

    E = C + I + G + NX

    E = Y

    Y = (1,000 + 0.8y) + 1,500 + 1,250 + 100

    Y = 0.8y + 3850

    Y-0.8y = 0.8y-0.8y + 3850

    0.2y = 3850

    Y = 3850/0.2

    Y = 19,250
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