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In the eclectic economy of Ecentricitia, their currency is the Ecentric dollar (ED). 0.05 of each ED earned by Ecentricites goes to taxes. 0.09 of each ED earned is spent on imports. After taxes, they save 0.15 of each ED. Use this information to answer the following questions.
A. What is the Government spending multiplier in Ecentricitia?
B. What would be the original increase in expenditures if the government wanted to increase total aggregate expenditures (AE) by 100?
Donna buys goods X and Y. She can just afford the bundle X = 6 and Y = 11. She can also afford X = 12 and Y= 8. Each of these bundles exhausts her income. Draw Donna’s budget line. What is the ratio of the price of x to the price of y?
1nbspbarriers to entry help maintain market power and earn positive economic profits.nbsp these factors apply to all
q1. how concentrated are income gains among the top 110th of one percent?q2. how does cost-consciousness help in better
Compute accounting profit. What are the opportunity costs for the manager of being in this business relative to returning to his old job. Illustrate what is the economic profit of the business.
An individual, who has income I, cares only about two goods: X and Y. Their prices are Px and Py, respectively. The individual's utility function is U(X,Y)=aln(X)+(1-a)ln(Y).
The probability of accepting the next wage offer is: Which of the following would be considered a real (as opposed to pecuniary) externality associated with migration? The longer the expected length of tenure on the job:
How much income gets you into the top quartile or quintile. Discuss the issues of regressive, proportional, and progressive taxation.
Suppose there is a bill to increase tax on cigarettes by $1 per pack coupled with an income tax cut of $500. Suppose a person smokes an average of 500 packs of cigarettes per year--- and would thus face a tax increase of about $500 per year from the ..
Two important policy goals of the government and the Fed are to keep unemployment and inflation low, while at the same time making sure that GDP is increasing at an average of 3% per year. Assume that the country is in a budget deficit and carrying a..
The construction cost of a permanent park is $600,000. Annual maintenance and operation costs are $120,000 per year. At an interest rate of 10% per year, the capitalized cost of the park is nearest to:
A profit-maximizing monopolist produces an output level at which
In Savannah, Georgia, the retail gasoline market consists of 8 firms. Firm 1 has 30% of the market, Firms 2 and 3 have 20% each and the remaining firms have 6% each. What is the four-firm market concentration ratio for this industry? Show your calcul..
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