The equilibrium level of the national income for the said economy will be Y=300
What is equilibrium level?
When economic forces are in balance, there is said to be an economic equilibrium. In the absence of outside influences, economic variables essentially hold true to their equilibrium levels. Market equilibrium and economic equilibrium are two different concepts. Economic equilibrium is the set of economic variables (often price and quantity) that the economy is driven toward by standard economic processes like supply and demand. The concept of economic equilibrium can also be used to describe a wide range of elements, including interest rates or overall consumer spending. The point of equilibrium denotes a theoretical state of rest where all economic activities that "should" occur have actually happened, given the initial conditions of all significant economic variables.
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