formula question (1 Viewer)

[standup]

What is the equalibrium level of income if C=100 + 0.8Y and I=40.

If u can somehow work this out, please include all working. it is from multiple choice in the 2003 paper.

thanks

 

[Haku]

answer is 700.

Y = C + I

u know I = 40
C is also given

so substitute in and ull get it.