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Assume that in 2015, the following prevails in the Republic of Nurd Government…

Assume that in 2015, the following prevails in the Republic of Nurd

Assume that in 2015, the following prevails in the Republic of Nurd
Government spending
Net taxes
SO
Planned investment
Assume that households in Nurd consume 80 percent of their income, they 20 percent of their income. Thus, the consumption function and saving function of Nurd are
Determine the equilibrium level of income

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