consider a simple closed economy with no government and no inflation. the following equations represent the investment and saving functions respectively,
where i is the rate of interest and Y is the level of national income. find the equation of the IS curve and plot it on the graph. if the equation of the lm curve isY=4=2i
(a)find equilibrium level of national income and equilibrium rate of interest.
(b) calculate the effect on the level of income of an autonomous fall in investment of 10
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