Find solutions for your homework business economics economics questions and answers the norwegian economy can be characterized by equation: c = 50 +0.75(y-t) i = 200 g=120 and the government's budget is balanced so g=t. please answer the following questions: 1- find the equilibrium level of income. 2- at equilibrium level, find the amount of saving in norway? 3- if g rises to 160 with no change in taxes, what will happen to the equilibrium Question: The Norwegian Economy Can Be Characterized By Equation: C = 50 +0.75(Y-T) I = 200 G=120 And The Government's Budget Is Balanced So G=T. Please Answer The Following Questions: 1- Find The Equilibrium Level Of Income. 2- At Equilibrium Level, Find The Amount Of Saving In Norway? 3- If G Rises To 160 With No Change In Taxes, What Will Happen To The Equilibrium This question hasn't been solved yet Ask an expert  Show transcribed image text Expert Answer  Transcribed image text: The Norwegian economy can be characterized by Equation: C = 50 +0.75(Y-T) I = 200 G=120 And the government's budget is balanced so G=T. Please answer the following questions: 1- Find the equilibrium level of income. 2- At equilibrium level, find the amount of saving in Norway? 3- If G rises to 160 with no change in taxes, what will happen to the equilibrium level of income? What is the government-expenditure multiplier? 4- If T increases to 160 with no change in G, what will happen to the equilibrium level of income? What is the tax multiplier? 5- If both government spending and taxes increase to 160, will equilibrium income change? Explain this result?