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Part C The following equations characterize an open economy in billions of dollars. C = 100...

Part C The following equations characterize an open economy in billions of dollars. C = 100 + .6 (Y – T) T = 40 I = 48 G = 64 X = 76 M = 20 + .15Y (i) If government expenditures and taxes both increased by $15 billion, what would be the change in equilibrium income?

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