Agricultural Economics 430

Tt Total personal taxes due in year t. Gt Total government spending in year t. and where: Yt = 1,200. Tt = 50 + 0.25(Yt-1) Gt = 250 (Show all work for full credit) If personal income last year was $800, what is the level of total consumption expenditures in the current year (year t)? … ................
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