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7. The Norwegian economist Trygve M. Haavelmo (Nobel laureate 1989) devised a model for the U.S. economy for the yea rs 1929 1941 based on
7. The Norwegian economist Trygve M. Haavelmo (Nobel laureate 1989) devised a model for the U.S. economy for the yea rs 1929 1941 based on the following equations: (i) c = 0.712y + 95.05 (ii) 5 = 0.158(c+x) 34.30 (iii)y=c+xs (iv)x=93.53 Here x denotes total investment, y is disposable income, 5 is the total savings by firms, and c is total consumption. Write the system of linear equations in standard form and solve the system
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