For the following economy, find autonomous expenditure, the multiplier, short-run equilibrium output, and the output gap. by how much would autonomous expenditure have to change to eliminate the output gap?
c = 600 + 0.75 (y – t )
ip = 200
g = 240
nx = 60
t = 100
y* = 4,200
instructions: enter your responses as absolute numbers.
autonomous expenditure:
multiplier:
short-run equilibrium output:
output gap: