What are the exogenous variables in the two equations above

Reference no: EM131038529

Y = C(Y-T) + 1(r) + G ................... (1)M/P = L(i, Y) ...............................(2)Required:a. Rewrite the IS equation as national savings = investment.b. What is the nature of the aggregate supply if the equation derived in (a) represents the goods market equilibrium?c. In equation (2) that is the LM equation, if prices are fixed what is the value of expected inflation? Explain your answer.d. What does the value of expected inflation in (c) imply on the real interest rate and the nominal interest rate?e. What are the exogenous variables in the two equations above? what are the endogenous variables

Reference no: EM131038529

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