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Natali5045456 [20]

3 years ago

6

In a private closed economy, (a) the marginal propensity to save is 0.25, (b) consumption equals income at $120 billion, and (c)

the level of investment is $40 billion. What is the equilibrium level of income?

1 answer:

Andreas93 [3]3 years ago

7 0

Answer:

$280 billion

Explanation:

An economy reaches the equilibrium when there is an equal amount of supply and demand.

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