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Write the reduced form of the model

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Reference no: EM13877185

Assume a Keynesian model for a closed economy with

C = 506 + 0.9177Y - 0.0001355Y 2
I = 30 + 0.15Y + 4.3√ Y

Assume G0 = 545 and write the reduced form of the model. Linearly approximate Y by expanding the reduced form around 3390.

Reference no: EM13877185

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