Thanks, I've just been looking in my text book and have worked it out (bloody textbook gave me 0.5Y lol so I didn't know you had to do 1 - 0.5 (I think?))
I'm assuming this is relating to the concept MPC + MPS = 1.
If someone can just assure thats the relationship for me I'd be all set :)...
Hey this question is out of the 2003 HSC Economics Paper, question 8.
I can't make anything of it and was wondering if someone could show me a worked solution for it.
What is the equilibrium level of income if C = 100 + 0.8Y and I = 40
A 100
B 140
C 500
D 700
Many thanks!
Confused
wow, at the start of this thread i was worried bout SC then after reading some posts u had me going that SC was a breeze, now im just confused. im just going to go back to what i was planning to do.
start revising notes and complete homework and assignments
even if SC is a breeze...