Concern a simple model of the national economy described by the difference equation Here Y k is
Question:
Concern a simple model of the national economy described by the difference equation
Here Yk is the total national income during year k, a is a constant less than 1, called the marginal propensity to consume, and b is a positive constant of adjustment that describes how changes in consumer spending affect the annual rate of private investment.
Find the general solution of equation (14) when a = .9 and b = .5.
Transcribed Image Text:
D [ = Aq» + + Aq + DD - z+ ¥K
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Data from in Theorem 17 Letting a 9 and b 5 gives the d...View the full answer
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Related Book For
Linear Algebra And Its Applications
ISBN: 9781292351216
6th Global Edition
Authors: David Lay, Steven Lay, Judi McDonald
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