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25-05-2023
Mathematics

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An open economy is in equilibrium whenY = C + I + G + X - M ...An open economy is in equilibrium whenY = C + I + G + X - MwhereY = national incomeC = consumptionI = invesmentG = goverment expenditureX = exportsM = importsDetermine the equilibrium level of income given thatC= ₀.₈Y + 80I = 70G = 130X = 100M = ₀.₂Y + ₅₀

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