Neco 2020 Economics Question 18
Practice objective / multiple choice question 18 from the 2020 Neco Economics examination.
In a Keynesian economy, autonomous consumption is \(200\) \(\text{₦}\), marginal propensity to consume (MPC) is \(0.75\), tax rate is \(20\%\) of income, marginal propensity to import (MPM) is \(0.1\), government spending \(G = 150\) \(\text{₦}\), investment \(I = 100\) \(\text{₦}\), and net exports are zero. Determine the equilibrium level of national income.
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About This Question
This is Neco 2020 Economics Question 18. It is one of the objective questions from the 2020 Neco Economics examination.
Difficulty level: Medium .
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