ExampleThe equations defining a model of two trading nations are given byY, = C, + I + X, - M Y; = C, + I + X, - M,C = 0.8Y, + 200M, = 0.2Y,C; = 0.9Y, + 100M, = 0.1Y,%3D%3DExpress this system in matrix form and hence write Y, in terms of I and /t.Write down the multiplier for Y, due to changes in It and hence describe the effect onthe national income of country 1 due to changes in the investment in country 2.

*Answer: Introduction This system can be written in matrix form as = ⎡⎣Y1C1M1Y2C2M2⎤⎦ = ⎡⎣C1 + I1∗…

ne equations defining a model of two trading nations are given by Y, = C, + I + X, - M Y; = C, + I + X, - M; C = 0.9Y, + 100 = 0.1Y, %3D %3D C, = 0.8Y, + 200 %3D %3D M, = 0.2Y, %3D %3D =press this system in matrix form and hence write Y, in terms of I and/. Write down the multiplier for Y, due to changes in I and hence describe the effect om e national income of country 1 due to changes in the investment in country 2.

ne equations defining a model of two trading nations are given by Y, = C, + I + X, - M Y; = C, + I + X, - M; C = 0.9Y, + 100 = 0.1Y, %3D %3D C, = 0.8Y, + 200 %3D %3D M, = 0.2Y, %3D %3D =press this system in matrix form and hence write Y, in terms of I and/. Write down the multiplier for Y, due to changes in I and hence describe the effect om e national income of country 1 due to changes in the investment in country 2.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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