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6. With these same equations: C = 220 +0,76rd, I = 440₁ 6=270-dosk X=530, M=535, and T = U+01127

6. With these same equations: C = 220 +0,76rd, I = 440₁ 6=270-dosk X=530, M=535, and T = U+01127

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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**Title: Solving for Equilibrium in Economic Equations** **Date:** 4/3/23 **Problem Statement:** Given the following set of equations, calculate the value of \( G \) at equilibrium: 1. \( C = 220 + 0.76YD \) 2. \( F = 440 \) 3. \( G = 270 - 0.05X \) 4. \( X = 530 \) 5. \( M = 535 \) 6. \( T = 44 + 0.12Y \) **Task:** Determine the equilibrium value of \( G \). **Explanation:** - **Equation (1):** The consumption function, where \( C \) is consumption and \( YD \) is disposable income. - **Equation (2):** A constant term representing a fixed variable \( F \). - **Equation (3):** An expression for \( G \), where \( G \) depends negatively on \( X \). - **Equation (4):** A given value for \( X \). - **Equation (5):** A given value for \( M \) (potentially imports or another economic measure). - **Equation (6):** An expression for taxes \( T \), where \( Y \) is income. To find the value of \( G \) at equilibrium, substitute the given value of \( X \) into Equation (3).
Transcribed Image Text:**Title: Solving for Equilibrium in Economic Equations** **Date:** 4/3/23 **Problem Statement:** Given the following set of equations, calculate the value of \( G \) at equilibrium: 1. \( C = 220 + 0.76YD \) 2. \( F = 440 \) 3. \( G = 270 - 0.05X \) 4. \( X = 530 \) 5. \( M = 535 \) 6. \( T = 44 + 0.12Y \) **Task:** Determine the equilibrium value of \( G \). **Explanation:** - **Equation (1):** The consumption function, where \( C \) is consumption and \( YD \) is disposable income. - **Equation (2):** A constant term representing a fixed variable \( F \). - **Equation (3):** An expression for \( G \), where \( G \) depends negatively on \( X \). - **Equation (4):** A given value for \( X \). - **Equation (5):** A given value for \( M \) (potentially imports or another economic measure). - **Equation (6):** An expression for taxes \( T \), where \( Y \) is income. To find the value of \( G \) at equilibrium, substitute the given value of \( X \) into Equation (3).
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