4. The equilibrium levels of income Y,consumption C, disposable income Ya,and taxation T, for a three-sectormacroeconomic model satisfy thestructural equations:Y = C + I, + GoC = a + bYa (0 0)Ya = Y – TT = tY + T, (0 < t < 1, T, > 0)i. Express this system in the form AX =dii. Using Cramer's rule, find theequilibrium levels of consumption(C*), disposable income (Ya*) andtaxation (T*)

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4. The equilibrium levels of income Y, consumption C, disposable income Ya, and taxation T, for a three-sector macroeconomic model satisfy the structural equations: Y = C + I, + Go С — а + bYa (0 0) Ya = Y – T T = tY + T, (0 < t < 1, T, > 0) i. Express this system in the form AX = d ii. Using Cramer's rule, find the equilibrium levels of consumption (C*), disposable income (Ya*) and taxation (T*)

4. The equilibrium levels of income Y, consumption C, disposable income Ya, and taxation T, for a three-sector macroeconomic model satisfy the structural equations: Y = C + I, + Go С — а + bYa (0 0) Ya = Y – T T = tY + T, (0 < t < 1, T, > 0) i. Express this system in the form AX = d ii. Using Cramer's rule, find the equilibrium levels of consumption (C), disposable income (Ya) and taxation (T*)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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