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Rewrite the following national-income model in the format of a system of 3 linear equations in 3 variables (, , ). Write out the coefficient
Rewrite the following national-income model in the format of a system of 3 linear equations in 3 variables (, , ). Write out the coefficient matrix, the variable vector, and the constant vector. [Hint: watch out for the multiplicative expression in the consumption function].
= + 0 +
= + ( 0 )
= Y
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