If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

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

Options

18-10-2011 10:08pm

#1

UrbanSea

Closed Accounts Posts: 18,335 ✭✭✭✭

Join Date: November 2008

Posts: 18034

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