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The equations of the model are:
C = 50 + 0.7VD T={0.2}Y
1 = 75 X = 50
G = 100 IM = {0A5)Y
a. Compute the AE function and plot it in a diagram. What is total autonomous expenditure?
b. What is the slope of the AE function?
c. Compute the equilibrium level of national income.
d. Suppose X rises from 50 to 100. How does this affect the level of national income?
e. What is the simple multiplier in this model?
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