C=100+0.4Y is the consumption function of an economy where C is Consumption Expenditure and Y is
Channel: Doubtnut
Date: 2020-05-09

C=100+0.4Y is the consumption function of an economy where C is Consumption Expenditure and Y is National Income. Investment expenditure is 1,100 Calculate(i) Equilibrium level of National Income, (ii) Consumption expenditure at equilibrium level of national income.