You Are Given the Following Information on the Macroeconomy

question 6

Essay

You are given the following information on the macroeconomy:

Compute the equilibrium level of income,the size of the multiplier,and the change in equilibrium income for an increase in autonomous consumption of $50 million.

---

Definitions:

Private Firms

Businesses owned by private individuals or groups, not by the government or public.

Government in the Sunshine Act

A U.S. law that requires many federal agencies to conduct their meetings in public and provide notice of meetings.

Federal Agencies

Government bodies in the United States that deal with government policy and administration.

Public Session

A meeting or part of a meeting of a legislative or judicial body that is open for the general public to attend and observe.