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Consider a closed economy where there is no tax, no transfer payment nor government purchase of goods and services. The relationship between the consumption (C)

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Consider a closed economy where there is no tax, no transfer payment nor government purchase of goods and services. The relationship between the consumption (C) and the GDP of the economy can be described by the Consumption Function C = I) Y where Y is the aggregate income or equivalently the GDP of the economy and b is a positive number between 0 and 1, Le, the consumption is a action, b, of the GDP of the economy. Suppose that the investment (I) undertaken in the economy is $600 and the GDP is $2000. What must be the value of \"b\" in the consumption function such that the equilibrium in the loanable funds market is consistent with the data above? Explain

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