18. In an economy C = 200 + 0.75Y is the consumption function where is consumption expenditure and Y is National Income Investment eipenditunis4000. Calculate the equilibrium level of income and consumption apenditure.
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Consumption Expenditure is the spending by households on goods and services, excluding new housing. In developed countries it has become the largest component of Gross Domestic Product (GDP) (Arnold, 2008).
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