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Given C =100+0.8Y, M=150+0.20Y, I=100, and X = 350: Determine YE algebraically using the trade balance...

Given C =100+0.8Y, M=150+0.20Y, I=100, and X = 350: Determine YE algebraically using the trade balance approach. Draw a graph.

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Trade balance is maintained where exports are equal to imports. We get the equilibrium output using this approach which is 1000 in our case. The graph with horizontal line is exports constant at 350. The upward sloping line named M is imports increasing with output and has a y axes intercept at 150. The intersection gives us equilibrium output which is 1000.

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