Suppose that the government of Ansonia is experiencing a large budget surplus with fixed government expenditures of G = 200 and fixed taxes of T = 150. Both G and T are independent of income. Assume that consumers of Ansonia behave as described in the following consumption function. C = 300 +0.80 (Y- T) Suppose further that investment spending is fixed at I = 200Calculate the equilibrium level of GDP in Ansonia. Solve for equilibrium levels of Y, C, and S
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