ECON 104 Final (20 points) 1. (5 points) Use Cramer's Rule to find Y and C when Y=C+I+G₁ C= a + by Where Y is the nation

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Econ 104 Final 20 Points 1 5 Points Use Cramer S Rule To Find Y And C When Y C I G C A By Where Y Is The Nation 1 (40.67 KiB) Viewed 9 times

ECON 104 Final (20 points) 1. (5 points) Use Cramer's Rule to find Y and C when Y=C+I+G₁ C= a + by Where Y is the national product and C is the private consumption. The symbols I. (private investment), G. (public spending), a, and b all represent constants, with b < 1. (You must use Cramer's Rule; other methods receive zero credits.) 2. (5 points) Consider an economy divided into an agricultural sector (A) and an industrial sector (I). To produce one unit in sector A requires 1/8 unit from A and 1/2 unit from I. To produce one unit in sector I requires 1/4 unit from A. Suppose external demands in each of the two sectors are 60 units. Solve the Leontief model for this economy. 3. (10 points) Solve the following linear programming problem. Minimize 6x+2y Subject to x-y 20 3x+y=8 x20 yz0