For a closed economy without government, C = 40 + 0.7 Y and I = 50, where C denotes consumption, Y denotes income and I denotes investment. What is the equilibrium level of income?
- A90
- B210
- C300
- D640
Economics 9708 · AS & A Level · Economic growth
Economics 9708 · AS & A Level · Economic growth
For a closed economy without government, C = 40 + 0.7 Y and I = 50, where C denotes consumption, Y denotes income and I denotes investment. What is the equilibrium level of income?