i need the answer quickly ECONOMICS.In an economy, total savings are $2000 crore and theratio of Average Propensity to Save and AveragePropensity to Consume is 2: 7. Calculate the level ofincome in an economy.

we can calculate the level of income by using APS and APC which are as follow-

Answered: ECONOMICS .In an economy, total savings…

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter9: Demand-side Equilibrium: Unemployment Or Inflation?

Section9.A: The Simple Algebra Of Income Determination And The Multiplier

Problem 3TY

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ECONOMICS .In an economy, total savings are $2000 crore and the ratio of Average Propensity to Save and Average Propensity to Consume is 2: 7. Calculate the level of income in an economy.