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Use the information below to answer the following questions.
Fact 11.5.1
An economy has a consumption function of C = 10 + 0.8Y, investment equal to 6, government expenditure equal to 10, exports equal to 10, and an import function of M = 0.1Y.
-Refer to Fact 11.5.1.If autonomous consumption increases by 10, what is the new equation of the aggregate expenditure function for this economy?
Pairs of Shoes
A unit of measure often used in economics or retail to discuss the quantity of shoes, indicative of inventory levels or sales volumes.
Domestic Price
The price of goods or services within a country's borders, as opposed to international or export prices.
Trade Price
The price at which goods are sold between companies, typically lower than retail prices due to the absence of retailer markup.
Domestic Production
The total output of goods and services produced by a nation's economy within its territory.
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