(Advanced analysis)Answer the question on the basis of the following consumption and investment data for a private closed economy.Figures are in billions of dollars. C = 60 + .6Y I = I₀ = 30 Refer to the data.In equilibrium,the level of consumption spending will be: A) 170. B) 270. C) 160. D) 195.

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In equilibrium, aggregate expenditure (C + I) equals output (Y). Solving for Y: Y = C + I = 60 + 0.6Y + 30. Solving gives Y = 225. Consumption (C) = 60 + 0.6(225) = 195.

(Advanced Analysis)Answer the Question on the Basis of the Following