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content area top Part 1 Consider a simple macro model with a constant price level and demand-determined output. The equations of the model are: Cequals150plus(0.9)Upper

content area top Part 1 Consider a simple macro model with a constant price level and demand-determined output. The equations of the model are: Cequals150plus(0.9)Upper Y Subscript Upper D, Upper Y Subscript Upper Dequals(0.8)Y, Iequals400, Gequals700, Tequals(0.2)Y, Xequals130, IMequals(0.08)Y Equilibrium national income is

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