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1. Assume a two-sector economy where Y = C + I C = a + b Y I = f ( i ...... with a = $18 billion b = 0.8 and investment demand schedule/curve so that at i = Investment = 8% $60 billion 6% $70 billion 4% $80 billion 2% $90 billion Instructions: Calculate an equilibrium income (IS) schedule/curve. For your answer simply indicate the equilibrium income associated with each different rate of interest. 2. Still assume a two-sector economy as above, but with S = -15 + .2 Y and investment demand schedule/curve such that at I = Investment= 7% $90 6% $110 5% $130 4% $150 Instructions: same as #1 above 3. Now let's assume a three-sector economy Y = C + I + G C = a + b Yd specifically, C = 20 + .8 Yd Yd = Y - Tx Tx = 50 billion I = f ( i ......... G = 100 billion G = Go Tx = Txo and investment demand schedule/curve so that at I = Investment = 8% $60 billion 6% $70 billion 4% $80 billion 2% $90 billion Instructions: Same as #1 and #2 above
After reading about the Solow growth model, which concludes that continued economic growth requires continual innovation, and Schumpeter’s dynamic growth model, does the combination of these two models provide an adequate model of technological chang..
The chair-making industry currently consists of 90 producers, all of whom operate with the identical short-run total cost curve STC(Q)=500+3Q2, where Q is the annual output of a firm. Only $200 of each firm's fixed cost is sunk. The market demand cur..
What is Gross Domestic Product, and why is it important for national economies?
Describe the importance of Charles Darwin's trip to the Galapagos Islands in 1831. What were some of the key insights Darwin gained on this voyage? After the publication of On the Origin of Species, were his ideas immediately accepted? Do you t..
Advanced MUa = z=10-x and MUb = z = 21 - 2y, where z in marginal utility per dollar in the amount spent on product A, and y is the amount spent on product B. Assume that the consumer has $10 to spend on A and B
Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
What effect would the following taxes have on a monopolist’s price and quantity?
1. what factors can contribute to unemployment?2. how can technology lead to greater unemployment or is it a benefit to
what is producer surplus and how is it measured? what is the relationship between the cost to sellers and the supply
1.the following table reports the consumer price index for the los angeles area on a monthly basis from january 1998 to
According to Cahner's In Stat Group, number of worldwide wireless phone users will soon reach one billion. In the United States alone, the number of users is expected to increase by 17 million per year for the next five years.
Explain why housing prices vary from one city to another
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