Suppose that the economy is characterized by the following behavioral equations:
C = 170 + 0.7YD
I = 170
G = 150
T = 100
a. What does equilibrium output equal?
Y=?
b. What does total demand equal?
Z=?
c. Total demand is (greater than/equal to / less than) production.
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Home » Business » Suppose that the economy is characterized by the following behavioral equations: C = 170 + 0.7YD I = 170 G = 150 T = 100 a. What does equilibrium output equal? Y=? b. What does total demand equal? Z=? c.