Solution:-
In equilibrium, Y = C + I + G + X
As Given,
C=100+0.75(Y-T)
I=700
G=450
X=50
T=450
Y=100+0.75(Y-450)+700+450+50
=100+0.75Y-337.5+1200
=1300+0.75Y-337.5
=962.5+0.75Y
Y-0.75Y=962.5
0.25Y=962.5
Y=3850
In Economic, equilibrium GDP is equal to $3850
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