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Desired consumption and investment are:
Cd = 4000-4000r + .20Y
Id= 2400-4000r
As usual, Y is output and r is real interest rate. Government purchases, G, are 2000.
(a) Find an equation relating desired national saving, Sd, to r and Y.
(b) What value of the real interest rate clears the goods market when Y= 10,000? Use both forms of the goods market equilibrium condition. What value of the real interest rate clears the goods market when Y= 10,200? Graph the IS curve.
(c) Government purchases rise to 2400. How does this increase change the equation for national saving in Part (a) ? What value of the real interest rate clears the goods market when Y= 10,000? Use both forms of the goods market equilibrium condition. How is the IS curve affected by the increase in G?
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