Equilibrium level of income can be determined at:(a). Full employment (b). Under full employment(C). Over full employment (d). Any of the above

Equilibrium Level of National Income

Consider an economy with the following values: Autonomous Consumption = 1,200Autonomous Taxes = 1,750Planned Investment = 2,800Government Expenditure = 1,950Autonomous Net Exports = 350Marginal Propensity to Consume = 0.7Marginal tax rate = 0.16Marginal propensity to import = 0.08 Calculate the equilibrium level of income. Provide answer to 2 decimal points

National IncomeConsumptionInvestment01006020026060400420606005806080074060100090060The equilibrium level of income is:a.500b.400c.800

What is the difference between the Full Employment and UnderEmployment Equilibrium?

Assume the economy is closed and there is no government. The aggregate demand components are described below:C = 100 + 0.6Y (1)I = 200 (2)Now there is a boost in investment, and total investment is now 300.  What is the income of equilibrium?