Let the national income model be: Y C+lo+Go, 0=1000, C 30+0.6(YT), Go=1400, T=100+ 0.3Y, where Y is the national income, C is the consumption expenditure, / is the investment, G is the government expenditure and lastly T represents the taxes.Solve for Y, C and T using GNU Octave by first rewriting the formula in the form Ax = b and also determine the inverse of matrix A.
Let the national income model be: Y C+lo+Go, 0=1000, C 30+0.6(YT), Go=1400, T=100+ 0.3Y, where Y is the national income, C is the consumption expenditure, / is the investment, G is the government expenditure and lastly T represents the taxes.Solve for Y, C and T using GNU Octave by first rewriting the formula in the form Ax = b and also determine the inverse of matrix A.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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