Given the national model Y= C + Io + Go + Xo - z C= Co + bYd Yd= Y - To Z= Zo + zY Explain the equilibrium level of income and consumption Explain the economic meanings of b and z. List the endogenous and exogenous variables of the model?
Given the national model Y= C + Io + Go + Xo - z C= Co + bYd Yd= Y - To Z= Zo + zY Explain the equilibrium level of income and consumption Explain the economic meanings of b and z. List the endogenous and exogenous variables of the model?
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 18SQ
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Question
Given the national model
Y= C + Io + Go + Xo - z
C= Co + bYd
Yd= Y - To
Z= Zo + zY
Explain the equilibrium level of income and consumption
Explain the economic meanings of b and z.
List the endogenous and exogenous variables of the model?
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ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning