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`C = 50 + 0.5 Y` is the consumption function where C is consumption expenditure and Y is National Income and investment expenditure is 2,000 in an economy. Calculate (i) Equilibrium level of (National Income) (ii) Consumption expenditure at equilibrium level. |
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Answer» Y = National Income, Consumption Function, `C = 50 + 0.5 Y` Investment, `I = 2,000` |
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