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Homework answers / question archive / The information below relates to a closed economy without a government: Autonomous consumption = R285 million

The information below relates to a closed economy without a government: Autonomous consumption = R285 million

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The information below relates to a closed economy without a government:

Autonomous consumption = R285 million.

Autonomous investment = R300 million.

Marginal propensity to consume = 0.4.

Calculate the equilibrium level of income.

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