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National Income Determination Question

  • 18-10-2011 9:18pm
    #1
    UrbanSea
    Closed Accounts Posts: 18,335 ✭✭✭✭


    I'm posting this in here and maths cos it's both.


    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


Comments

  • #2
    andrew
    Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 3,372 Mod ✭✭✭✭andrew


    UrbanSea wrote: »
    I'm posting this in here and maths cos it's both.


    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

    What exactly is the full question, and which exact bits don't you understand?


  • #3
    UrbanSea
    Closed Accounts Posts: 18,335 ✭✭✭✭UrbanSea


    That was it.

    Thanks andrew,found out where I was going wrong


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