The following equations describe a certain economy C=400+0.75Yd I=200-100r T=70+0.2Y G=100 x=10 M=150+0.06Y Ms=4000 Md=0.2Y-10r...
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The following equations describe a certain economy C=400+0.75Yd I=200-100r T=70+0.2Y G=100 x=10 M=150+0.06Y Ms=4000 Md=0.2Y-10r Where, Yd, Md and Ms represent disposable income, money demand and money supply respectively. Required: Caclulate the equilibrium level of consumption (C). Give your answer on 2 decimal places
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