Assume that a closed economy is characterized by the following equations.

C = 100 + (2/3)(Y - T)

T = 600

G = 500

I = 800 - (50/3)r

M^s/P = M^d/P = 0.5Y - 50r

Solve for the equilibrium values of Y and r, assuming P = 1.0 and M = 1,200. (Hint: First find equations for IS and LM curves and then solve for equilibrium.)