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National Income Determination Question

UrbanSea · 2011-10-18 21:08:06

I'm working on a question and can't get my head around a bit. For a closed economy with no gov. intervention the consumption function is C=0.3Y+30 with planned investment of 180. I get to the bottom where I say y is 300 and C is 120. How do I get the equilibrium income and consumption

18-10-2011 9:08pm

#1

UrbanSea

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I'm working on a question and can't get my head around a bit.

For a closed economy with no gov. intervention the consumption function is C=0.3Y+30 with planned investment of 180.

I get to the bottom where I say y is 300 and C is 120.

How do I get the equilibrium income and consumption

0