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BEST ANSWER UP FOR GRABS-->Macreconomics Question. Any helpers out there?
A Keynesian model of the closed economy is described by the following equations
Y = C + I + G
where
C = bYd
Yd = Y + TR – T
TR = TR bar
T = T bar
I = I bar
G = G bar
(a) Derive, from first principles, the equilibrium level of income.
(b) Derive the Keynesian expenditure multiplier.
(c) If T = tY, derive the equilibrium level of income.
2 Answers
- Anonymous1 decade agoFavorite Answer
A. Y=C+I+G
Y=b(Y+TR-T)+I+G
(1-b)Y=(bTR-bT+I+G)
Y=1/1-b(bTR-bT+I+G)=equilibrium income
B multiplier= 1/1-b
C.Y=bY+bTR-btY+I+G
(1/1-b+bt)Y=(bTR+I+G)
Y=1/1-b+bt(bTR+I+G)
- Anonymous5 years ago
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