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Find equilibrium GDP using the following macroeconomic model (the numbers, with the exception of the MP0, represent billions of dollars): C = 250 + 0.75Y
Find equilibrium GDP using the following macroeconomic model (the numbers, with the exception of the MP0, represent billions of dollars): C = 250 + 0.75Y Consumption function | = 2,000 Planned investment function G = 1,000 Government spending function NX = 500 Net export function Y = C + | + G + NX Equilibrium condition The equilibrium level of GDP is SSE billion. (Round your answer to the nearest billion dollars.)
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