Answer to Question #27638 in Economics of Enterprise for japhet

Question #27638
if the national income equation is Y=C+I+G+E-M where C=8+0.6Yd I=25 G=10 E=70 M=15+0.2Y T=7+0.3Y R=25-0.3Y (a) determine the economy's national income/output (b) determine the economy's multiplier applicable to government spending and interpret its meaning (c) use the multiplier applicable to exports and explain how a $100 billion decline in the demand for exports could affect the following variables: (i) GDP (ii) Balance of trade (iii) government budget
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