1. Assume a private, closed economy where Y = C + 1, and C = 10 + 0.97 and 1 = 15. (Values in $ billions.)
a) Solve algebraically for the equilibrium level of national income. (2)
b) Calculate the value of the multiplier. (2)
c) Solve graphically for the equilibrium income by constructing an accurate
i) The 45 degree graph
(4)
ii) savings/investment graph (4)

What is "staffing level"? a) the practice of assigning the same number of workers to each department b) the average educational level attained by employees of a business c) the rank above cashier d) the number of workers assigned to jobs at a particular time

Which result is a positive aspect of globalization?

Consumer surplus is: the difference between the price of a product and what consumers were willing to pay for the product. the difference between the discounted price of a product and its retail price. the difference between the price paid by consumers and the price required of producers. the difference between the price of a product and consumers' valuation of the last unit of the product purchased.