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1. The following equations describe an economy. C= 0.8(1-t)Y t= 0.25 I= 900-50i G= 800 L= 0.25 Y - 62.5 I M/p = 500 (A)What

1. The following equations describe an economy.

C= 0.8(1-t)Y

t= 0.25

I= 900-50i

G= 800

L= 0.25 Y - 62.5 I

M/p = 500

(A)What is the equation that describes the IS Curve?

(B)What is the equation that describes the LM curve?

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