Answer: Your welcome!
Step-by-step explanation:
The short-run equilibrium level of GDP (income) is $1000. This is calculated using the equation Y = C + I, where Y is GDP (income), C is consumption, and I is investment. Since consumption is C = 0.80(Yd) + $300, and Investment is I = $200, the equation can be re-arranged to Y = 0.80Yd + $500, which solves for Y = $1000. This is the equilibrium level of GDP (income).