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Assume that the national income model is specified as y c

Assume that the national income model is specified as: Y = C + I0 + G0 , C = C0 + bY D , T = tY

(a) Identify the endogenous and exogenous variables and the parameters.

(b) Determine the equilibrium national income and the multiplier.

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Microeconomics: Assume that the national income model is specified as y c

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Microeconomics: Assume that the national income model is specified as y c

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