We have the following information for an economy. All values are in billion doll

Question

We have the following information for an economy. All values are in billion dollars Output Net Disposable Consumption (Income) Taxes Income Spending Planned Government nvestment Purchases Planned Aggregate Expenditure C+1+G $275 350 425 500 575 650 725 800 875 950 1025 1100 1175 Saving $200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 $100 100 100 100 100 100 100 100 100 100 100 100 100 $100 $25 $80 $120 120 120 120 120 120 120 120 120 120 120 120 120 $75 150 225 75 100 125 150 175 500 600 700 800 900 1000 1100 1200 1300 375 450 525 600 675 750 825 900 975 225 250 275 325 In this economy, equilibrium income/output is(Enter your response as an integer.) At Y-31400, planned aggregate expenditure income, and income or output

Explanation / Answer

In this economy, equilibrium income/output is $500 billion.

(At Y = $ 500, income equals aggregate expenditure. (Y = C+I+G)

At Y = $1,400, aggregate expenditure less than income, and income or output higher.

(Two options not mentioned)

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