Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Given the income model as follows:
Y=C+I
C = Co + bYd
T
To+tY
Yd=Y-T
1=10
where,
Y= [income], C= [consumption], 1= [investment], Yd= [disposable income], T = [tax] Io, Co, &
To [exogenous variables).
(a) State the model in the form of a matrix equation
AX = B dengan XT=[Y C]
(b) If I = lo=30, Co= 85, b=0.7, t = 0.2, and To= 20 Determine the equilibrium values of Y and
C using Cramer's method
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Transcribed Image Text:Given the income model as follows: Y=C+I C = Co + bYd T To+tY Yd=Y-T 1=10 where, Y= [income], C= [consumption], 1= [investment], Yd= [disposable income], T = [tax] Io, Co, & To [exogenous variables). (a) State the model in the form of a matrix equation AX = B dengan XT=[Y C] (b) If I = lo=30, Co= 85, b=0.7, t = 0.2, and To= 20 Determine the equilibrium values of Y and C using Cramer's method
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