Answer to Question #82827 in Microeconomics for flora

Question #82827

5. Consider the following national income model
Y = C+I+G+X-M
C=0.75(Y-T)
M=0.25Y
I=820
G=960
t=0.3
X=650
Find the equilibrium values of Y, C and M

Expert's answer

C=0.75Y-0.225

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