Consider the two-sector model dY/dt = 0.5 (C + I - Y) C = 0.7Y + 500

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Consider the two-sector model
dY/dt = 0.5 (C + I - Y)

C = 0.7Y + 500
I = 0.2Y + 500
Find an expression for Y(t) when Y(0) = 15 000. Is the system stable or unstable?

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Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

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Question Posted: Apr 18, 2019 10:25 AM

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Consider the two-sector model dY/dt = 0.5 (C + I - Y) C = 0.7Y + 500

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If the second and third equations are substituted into the first we get ...View the full answer

Mathematics for Economics and Business

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