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Business, 01.05.2021 18:00 megamorph

By using REPEATED SUBSTITUTION method only, please answer the following Macroeconomics question: Consider the simplified, two-equation, national income model Y = C + I C = a + b Y Where national income (Y) and consumption (C) are endogenous variables and investment (I) are exogenous variables. The parameters in the consumption function, where a represent the autonomous consumption expenditure and b represents the marginal propensity to consume, respectively.

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By using REPEATED SUBSTITUTION method only, please answer the following Macroeconomics question: Con...
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