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:
Credit CARD Act
A US federal law enacted in 2009 aimed at reducing abusive practices in the credit card industry, enhancing consumer protections.
Federal Reserve Board
Governs the Federal Reserve System, the central banking system of the United States, and oversees the nation's money supply and banking industry.
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