Consider the following economyC=1000+0.4(Y-T)I=500T=400G=300Autonomous spending is:
Question
Solution 1
To find the autonomous spending in the given economy, we need to substitute the given values into the equations for consumption (C), investment (I), and taxes (T).
The equation for consumption is C = 1000 + 0.4(Y - T), where Y represents income. Substituting the given value of T = 400, we have C = Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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