Business, 23.09.2021 05:40 babygirlqueen5588

Consider the following Keynesian macroeconomic model: Y=C+I+GC=200+0.8Y
I=1000−2000R
where the endogenous variables are national income (Y), consumption (C) and investment (I) and the exogenous variables are gov't spending (G) and interest rate (R)
i. Write the above equations in a matrix form:
A(Y)=B(C)(I)
where A is a 3 x 3 matrix and B is a 3 x 1 matrix with entries involving the exogenous variables.
ii. Find the inverse of A and solve for Y, C and I.

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Consider the following Keynesian macroeconomic model: Y=C+I+GC=200+0.8Y
I=1000−2000R
w...

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