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Trying to solve this from my textbook for practice. Please Help! Thank you Answer questions 5, 6, and 7 using the following information: Let the

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Trying to solve this from my textbook for practice. Please Help! Thank you

image text in transcribed
Answer questions 5, 6, and 7 using the following information: Let the national income model be: Y = C+ lo + Xo - M C = atb(Y - To); (a > 0,0 0) where Y is Income, C is Consumption, M are Imports, Io is investment, Xo are Exports, To are taxes, and a, b and m are parameters. Investment, Exports and Taxes are exogenous variables. The matrix format of this set of equations is: Io + Xo 0 Q = a - bTo - m 0 0 O (3)- Io + Xo a - bTo m 0 O 1 Io + Xo C = a - bTo m M 0 O Io - Xo a - bTo 0 Question 6 2 pts The determinant of the coefficient matrix you found in Question 5 is: Oltm -b 0 1 -m+b Oltm+b 0 1-m-b

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