Given the income model as follows: Y=C+I C = Co + bYd T=To+tY Yd=Y-T 1=lo where, Y=[income], C= [consumption], 1- [investment], Yd= [disposable incomel, T=[tax] Io, Co, & To lexogenous variables). (a) State the model in the form of a matrix equation AX-B dengan XT=[Y C] (b) if I = lo=30, Co=85, b=0.7, t=0.2, and To: 20 Determine the equilibrium values of Y and Cusing Cramer's method
Given the income model as follows: Y=C+I C = Co + bYd T=To+tY Yd=Y-T 1=lo where, Y=[income], C= [consumption], 1- [investment], Yd= [disposable incomel, T=[tax] Io, Co, & To lexogenous variables). (a) State the model in the form of a matrix equation AX-B dengan XT=[Y C] (b) if I = lo=30, Co=85, b=0.7, t=0.2, and To: 20 Determine the equilibrium values of Y and Cusing Cramer's method
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![Given the income model as follows:
Y=C+I
C = Co + bYd
T
To+tY
Yd=Y-T
1=10
where,
Y= [income], C= [consumption], 1= [investment], Yd= [disposable income], T = [tax] Io, Co, &
To [exogenous variables).
(a) State the model in the form of a matrix equation
AX = B dengan XT=[Y C]
(b) If I = lo=30, Co= 85, b=0.7, t = 0.2, and To= 20 Determine the equilibrium values of Y and
C using Cramer's method](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe18ff0f9-5fcf-45f6-8bbe-2ce26d7b0fe0%2F666efffe-223c-4ef0-9c1b-14954b9634e3%2Fx2aajn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Given the income model as follows:
Y=C+I
C = Co + bYd
T
To+tY
Yd=Y-T
1=10
where,
Y= [income], C= [consumption], 1= [investment], Yd= [disposable income], T = [tax] Io, Co, &
To [exogenous variables).
(a) State the model in the form of a matrix equation
AX = B dengan XT=[Y C]
(b) If I = lo=30, Co= 85, b=0.7, t = 0.2, and To= 20 Determine the equilibrium values of Y and
C using Cramer's method
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