C = 4,000 + 0.5y
I = 1,500
G =2,250
NX = -150
Given the equations for C, I, G, and NX above, what is the equilibrium level of GDP (Y)?
Y = C + I + G + NX.
Y = 4,000 + 0.5Y + 1,500 + 2,250 + (-150 )
Y = 7,600 + 0.5Y.
0.5Y = 7,600.
Y = 15,200.
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