Given: Investment = N100 million Consumption = N200 m + 0.75Y Y = C + I Where, Y =Income, C = Consumption and where I = Investment What is the income level ...

Answer Details

We are given the following equations: - Investment = N100 million - Consumption = N200 m + 0.75Y - Y = C + I We can substitute the value of I in the third equation with N100 million (from the first equation) and simplify the second equation as follows: Y = C + I Y = (N200 m + 0.75Y) + N100 m Y = N200 m + N100 m + 0.75Y 0.25Y = N300 m Y = N1,200 million Therefore, the income level to the nearest million is N1,200 million.