A change in government expenditure by ΔG will lead to a change in the equilibrium level of income by ΔY where ΔY > ΔG. Explain. Discuss the two approaches to the First Model of income determination...

A change in government expenditure by ΔG will lead to a change in the equilibrium level of income by ΔY where

ΔY > ΔG. Explain.

Discuss the two approaches to the First Model of income determination (including government expenditure and tax).