Please find the effect of Y and r if there is a decrease in the tax rate. Use the following equations and evaluate the total derivative. (eq.1) Y = C(YT) + I(r, Y) + GM(eq.2) == L (Y,r)P(eq.3) T = tYGiven that:Cy-T, Iy > 0, 0 < Cy_T + Iy < 1, Ir < 0, Ly > 0, Lr < 0, 0 < t < 1Endogenous variables: Y, r, T

National income is the entire monetary worth of all the commodities and services a country produces…

Answered: (eq.1) YC(YT) + I(r, Y) + G (eq.2)…

(eq.1) YC(YT) + I(r, Y) + G (eq.2) //=L(Y,r) (eq.3) T=tY Given that:Cy-T, Iy > 0, 0 < Cy_T + Iy < 1, Ir< 0, Ly > 0, Lr < 0,0 < t < 1 Endogenous variables: Y,r, T M P

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please find the effect of Y and r if there is a decrease in the tax rate. Use the following equations and evaluate the total derivative.

(eq.1) Y = C(YT) + I(r, Y) + G
M
(eq.2) == L (Y,r)
P
(eq.3) T = tY
Given that:Cy-T, Iy > 0, 0 < Cy_T + Iy < 1, Ir < 0, Ly > 0, Lr < 0, 0 < t < 1
Endogenous variables: Y, r, T

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