b is the slope of the consumption function.
d is the constant autonomous lump sum tax.
a is the autonomous consumption which is independent on the disposable income.
t is the rate or proportion of income tax.
The expression that well describes or determines income, consumption and taxes when they are all at equilibrium is as indicated below:
Y¯ = 1/1-b x (a - bT + I + G).
franco crick answered the question on March 23, 2018 at 16:02
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