SELECT * FROM question_mgmt as q WHERE id=5459 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=59 AND chapterId=607 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED)

Question:

Suppose C = 100 + 0.75Y D, I = 500, G = 750, taxes are 20 per cent of income, X = 150, M = 100 + 0.2Y . Calculate equilibrium income, the budget deficit or surplus and the trade deficit or surplus.

Answer:

C = 100 + 0.75 YD
I = 500
G = 750
X = 150
M = 100 + 0.2 Y

Equilibrium income (Y) = C + c (Y - T) + I + G + X - M – mY

Since NX is negative, it implies trade deficit.


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