Business, 03.03.2020 03:59 alejandro1102

The small island nation of Kaboom is a simple economy with no government, no taxes, and no imports or exports. Kaboomers (citizens of Kaboom) are creatures of habit. They have a rule that everyone saves exactly 20 percent of income. Assume that planned investment is fixed and remains at 175 million Kaboomian dollars. Further assume that autonomous consumption (independent of Y) zero, so consumption (C) is MPC times Y. The following data are estimates for the island of Kaboom: Real GNP (Y: 656 million Kaboomian dollars Planned investment spending (I): 75 million Kaboomian dollars You are asked by the business editor of the Explosive Times, the local newspaper, to predict the economic events of the next few months. Based on the data given, you predict inventories will and the level of real GNP will. Things will stop changing when. Kaboom's economy will reach equilibrium when its real GNP = million Kabcomian dollars. (Enter your response as an integer)

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The small island nation of Kaboom is a simple economy with no government, no taxes, and no imports o...

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