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.

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Chapter1: Making Economics Decisions
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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.
Transcribed Image Text: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.
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