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a) In a closed economy with the following functions: (i)Calculate the equilibrium level of income and the simple Keynesian multiplier in this model. (ii)Calculate the

a) In a closed economy with the following functions:

(i)Calculate the equilibrium level of income and the simple Keynesian multiplier in this model.

(ii)Calculate the Budget Surplus (BS).

(iii)Suppose the Government decides to give a stimulus package to its population amounting , Then what will be the new equilibrium level of income?

What is the role of RBI in monitoring the exchange rate under fixed exchange rate regime and under flexible exchange rate regime?

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