Explanation Given: 0.005 Y – 1000 r = 10 0.005 Y + 800 r = 100 Formula used: Eliminating one variable from the set of two equations having two variables. Calculation: 0.005 Y – 1000 r = 10 -----(1) 0.005 Y + 800 r = 100 -----(2) On subtracting equation (1) from equation (2), we get 0.005 Y + 800 r = 100 0.005 Y – 1000 r = 10 − + − _ 1800 r = �...

College Algebra Enhanced with Graphing Utilities (7th Edition) (Sullivan Enhanced with Graphing Utilities Series)

7th Edition

ISBN: 9780134111315

Author: Michael Sullivan, Michael Sullivan III

Publisher: PEARSON

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Chapter 8.1, Problem 76AYU

To determine

To find: Economics In economics, the IS curve is a linear equation that represents all combinations of income Y and interest rates $r$ that maintain an equilibrium in the market for goods in the economy. The LM curve is a linear equation that represents all combinations of income $Y$ and interest rates $r$ that maintain an equilibrium in the market for money in the economy. In an economy, suppose that the equilibrium level of income (in millions of dollars) and interest rates satisfy the system of equations.

${\begin{cases} 0.06 Y - 5000 r = 240 \\ 0.06 Y + 6000 r = 900 \end{cases}$

Find the equilibrium level of income and interest rates.

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Chapter 8.1, Problem 75AYU

Chapter 8.1, Problem 77AYU

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Chapter 8 Solutions

College Algebra Enhanced with Graphing Utilities (7th Edition) (Sullivan Enhanced with Graphing Utilities Series)

Ch. 8.1 - Solve the equation: . (pp. 82-85) Ch. 8.1 - Prob. 2AYU Ch. 8.1 - Prob. 3AYU Ch. 8.1 - Prob. 4AYU Ch. 8.1 - Prob. 5AYU Ch. 8.1 - If the lines that make up a system of two linear...Ch. 8.1 - If a system of two linear equations in two...Ch. 8.1 - Prob. 8AYU Ch. 8.1 - Prob. 9AYU Ch. 8.1 - Prob. 10AYU

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