Which of the following equations illustrates the equilibrium level of
Which of the following equations illustrates the equilibrium level of income with respect to the simple Keynesian closed-economy model?
a. Y = [1/(1 − b)](a − bT − I + G)
b. Y = [1/(1 − b)](a + bT + I + G)
c. Y = [1/(1 + b)](a − bT − I − G)
d. Y = [1/(1 − b)](a − bT + I + G)
e. Y = (1 − b)(a + bT + I + G)
ANSWER
D
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