Assume a closed economy described by the following, Business Economics

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Assume a closed economy described by the following

Assume a closed economy described by the following equations: C = 300 + 0.6(Y-T) ; I = 500 - 40R; G = 200; T = 200; M = 2800; (M/P)d = 4Y - 100R; SRAS: P = 1; LRAS: Y=1000 e) Find short run equilibrium level of output, prices, and real interest rate.

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Business Economics: Assume a closed economy described by the following

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Business Economics: Assume a closed economy described by the following

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