Neco Model Questions Vol1 2019 Economics Question 4
Practice objective / multiple choice question 4 from the 2019 Neco Model Questions Vol1 Economics examination.
In an economy, the marginal propensity to consume (MPC) is 0.75 and the tax rate is 20 % of income. Autonomous consumption is 50, autonomous investment is 30, government spending is 80, and net exports are -20. Using the expenditure approach, calculate the equilibrium level of national income.
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This is Neco Model Questions Vol1 2019 Economics Question 4. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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