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Given the following model: Y = C + I + G + (X - M)
Question 1 Suppose that : Autonomous Consumption = $ 500 MPC = 0.75 Taxes = $ 400 Investment = $ 500 Government Spending = $ 1200 Exports = $ 300 Imports = $ 500
Find the following: (2 points each) A. E quilibrium income B. E quilibrium consumption C. E quilibrium saving D. Write the savings function E. Show that injections equal withdrawals
Question 2 Suppose that full employment GNP (FE Y) is = 4000 ( 2 points each)
A. Explicitly find the necessary change in G to get the economy to full employment GDP. B. Explicitly find the necessary change in Taxes to get the economy to full employment GDP.
Question 3 Given the position of the economy in question one and that full employment GDP = 4000 explain how the following monetary policies would get the economy to full employment GDP (1 .5 point each)
A. Open market operations B. Discount rate C. Federal funds rate D. Required reserve ratio
Consider supply and demand in the market for privately-owned apartments in Moscow. What market outcomes do you predict in this market if the University of Idaho eliminates the requirement that freshmen must live on campus?
Using a certain quantity of resources, workers in the fictitious country of Iguania can produce 4 bottles of penicillin or 12 loaves of bread. Using the same resources, workers in another fictitious country, Chamelia, can produce 6 bottles of penicil..
In the founding documents of the United States of America - in this case the Articles of Confederation and the Constitution - does the use of checks and balances seem to provide for the protection of a pluralistic system of government with multiple a..
Exhibit 5-5 GDP data (billions of dollars) Personal consumption expenditures $5,207 Interest 425 Corporate profits 735 Government spending 1,406 Depreciation 830 Rental income 146 Gross private domestic investment 1,116 Compensation of employees 4,42..
Is an increase in the marginal income tax rate reflected by a shift in the after-tax supply of labor or a movement along the supply curve when the pretax wage rate is on the vertical axis? Explain your answer
Pope Urban II's Speech at Clermont (1095) in Lualdi, How did urban ii appeal to his audience? Why do you think this language motivated people in the audience to join the Crusade? What did the Crusade offer them?
What are the factor markets like for the automobile industry? What global pressures does the automobile industry face? Foreign competition?
q. 1. suppose at columbia university grade point average gpa and sat scores are related by the conditional expectation
When she hired a fourth worker, her total product increased but by only 1,000 bullfrogs. Yolanda pays $1,000 a week for equipment and $500 a week.
Suppose the average household in a state consumes 800 gallons of gasoline per year. A .20 tax is introduced coupled with a $160 annual tax rebate per household. Will the household be better or worse off?
Your weapons company, Top GunZ, sells fighter jets to two countries. The jets can be produced at a constant marginal cost of $10 million. The demand for jets in the two countries can be represented as: QA = 100 – 2p QB = 80 – 4p. Assume that the opti..
If the labor supply curve is very elastic, a tax on labor:
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