Refer to Table 1. The equilibrium level of output is ________ billion. Group of answer choices$1,600$1,200$2,000$800 Output Consumption(Income) Spending4004008007001,2001,0001,6001,3002.0001,600All Numbers are in $ BillionNetTaxes100100100100100Investment GovernmentSpendingSpending200100200100200100200100200100

Equilibrium is where aggregate demand equals output That is AE = Y Now , Aggregate demand/…

Answered: Refer to Table 1. The equilibrium level…

Refer to Table 1. The equilibrium level of output is ________ billion. Group of answer choices $1,600 $1,200 $2,000 $800

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter16: Government Spends, Collects, And Owes

Section: Chapter Questions

Problem 12AA

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Refer to Table 1. The equilibrium level of output is ________ billion.

Group of answer choices

$1,600

$1,200

$2,000

$800

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