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Consumption: C = 1622 + 0.7(Y - T) Investment: I = 4000 Government: G = 2000 Taxes: T = 3000 Exports: EX = 2750 Imports:

Consumption: C = 1622 + 0.7(Y - T)

Investment: I = 4000

Government: G = 2000

Taxes: T = 3000

Exports: EX = 2750

Imports: IM = 2935

(a) Use the above information to calculate the new level of equilibrium output for X Island.

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