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(Advanced Analysis)Answer the Question on the Basis of the Following

question 18

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(Advanced analysis) Answer the question on the basis of the following consumption and investment data for a private closed economy.Figures are in billions of dollars. C = 60 + .6Y
I = I0 = 30
Refer to the data.The equilibrium level of income (Y) is:


Definitions:

Agents

Individuals or entities authorized to act on behalf of another person or entity in legal or business matters.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Principal

In a legal context, the principal is the party who grants authority to an agent to act on their behalf in legal or financial matters.

Apparent Authority

A situation where someone appears to have the power to act on behalf of another (such as an employer), even if they do not have actual authority.

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