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MACROECONOMICS
Consider a closed economy to which the Keynesiancross analysis applies. Consumption is given by the equation C = 100 + 2/3(Y – T), where Y represents income and T represents taxes. Planned investment is 300, as are government spending and taxes.
According to the statement above;
C = 100 + 2/3(Y – T)
Planned investment = I = 300
Govt. spending = G = 300
Taxes = T = 300
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