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| PAGE: 710 | SET: Exercises | PROBLEM: 71 |
The linear equation that represents all combinations of income 
and interest rates 
that maintain an equilibrium in the market for goods in the economy.
The system of equations are 
Multiply the equation 
by 
and add to the equation 
to eliminate .
.
.
The rate of interest is 
.
Substitute 
in equation .
.
Therefore, the equilibrium level of income and interest rates is
million and 
.
The equilibrium level of income and interest rates is million and 
.
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