Macroeconomic

Suppose that the economy is characterized by the following structural equations Y - C+ + G + ( -M) XO=550 C = a + by Let C = 450 + 0.29Y 10 = 750 G-G Go= 360 M_M my M= 240 + 0.5Y (a) How much is Y. C and M? (12 marks) (b) Given that full employment income is $2500, graph your information using the Keynesian model and state the gap that exist if any (5 marks) (c) Determine the value for net export at the equilibrium income and state what this value is indicating