An open-economy is characterized by the following:C = 800+ 0.8 (YT)I = 24001.2.G = 200T = 100Solve for the following (provide solutions where applicable, andencircle/box/highlight your final answers):Equilibrium Outputequilibrium outputX = 3000M = 0.2Y(Y*)The consumption level corresponding to

In an open economy, aggregate expenditure is the sum of consumption, investment, government spending…

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An open-economy is characterized by the following: C = 800+ 0.8 (Y-T) I = 2400 G = 200 T = 100 X = 3000 M = 0.2Y

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Question

An open-economy is characterized by the following:
C = 800+ 0.8 (YT)
I = 2400
1.
2.
G = 200
T = 100
Solve for the following (provide solutions where applicable, and
encircle/box/highlight your final answers):
Equilibrium Output
equilibrium output
X = 3000
M = 0.2Y
(Y*)
The consumption level corresponding to

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An open-economy is characterized by the following: C = 800+ 0.8 (Y-T) I = 2400 G = 200 T = 100 X = 3000 M = 0.2Y Solve for the following (provide solutions where applicable, and encircle/box/highlight your final answers):
Consider a closed economy in which the population grows at the rate of 1% per year. The per-worker production function is yt = 2.2kt^0.5, where y is output per worker and k is capital per worker. The depreciation rate of capital is 10% per year a- Households initially consume 80% of income and save the remaining 20% of income. There is no government spending. What are the steady-state values of capital per worker, output per worker, consumption per worker, and investment per worker? b-Suppose saving rate decreases to 10% permanently. What are the steady-state values of capital per worker, output per worker, consumption per worker, and investment per worker?