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*** REPEAT QUESTION. PLS DO CLEARLY IN EVERY STAGE OF CALCULATION WITH EXPLAINATION PLS*** Suppose you have the following national income model: Y - C
*** REPEAT QUESTION. PLS DO CLEARLY IN EVERY STAGE OF CALCULATION WITH EXPLAINATION PLS***
Suppose you have the following national income model:
Y - C =G
-0.5 Y + C = 127-0.5T
-0.30000000000000004Y + T = 199
Convert this system of equations in matrix form.
(a) What is the determinant of the coefficient matrix?
(Note: you can use either inversion or Cramer's rule to find the values of Y, C and T.)
(b) What is the equilibrium value of Y?
(c) What is the equilibrium value of C?
(d) What is the equilibrium value of T?
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