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In the country of Republic of Texas indirect taxes are $5,153, corporate income taxes are $8,398, transfer payments from the government to households are $5,224, personal income taxes are $6,279, the interest paid on the debt of the government is $9,712, and social security taxes are $9,133. Moreover, the federal budget was $449.
How much money the government spent in the purchase of goods and services in the Republic of Texas?
Suppose that, initially, the Michigan economy is in equilibrium with no unemployment. The supply of workers is ES = -1,000,000 + 200w, and the demand for workers is ED = 16,500,000 – 300w, where w = annual wages, and E = number of employed workers.
Graphs are normally two dimensional in their use of an x and y axis. What advantages do multi-dimensional graphs have in terms of using three dimensional representations (x, y and z graphs or even additional axis representations) and do these present..
Draw a graph of money market equilibrium. Is the real or nominal interest rate on the axis? Explain why. Let’s say the Fed wants to lower the nominal interest rate. Use your graph to show how they do this. Explain. Define monetary neutrality. Explain..
In the long run, an economy's level of output
A pulpwood-forming machine was purchased and installed 8 years ago for $50.000. The declared salvage value was $5000, with a useful life of 10 years. The machine can be replaced with a more efficient model that costs $90,000, including installation. ..
Why do the soft technologies open more opportunities for women? To what extent have these technologies impacted the perceptions of men’s and women’s roles in the economy, within marriage, and in society as a whole?
An economy has a consumption function of C = 400 + .75(DI) The following values are fixed : G , T = 1000 NX = 50 I = 750 Suppose that the CPI ( i.e., the "Price Level") is currently equal to 115. What is the equilibrium real GDP (on the demand side)?
Allen Corporation's vice president in charge of marketing believes that every 9% increase in the selling price of one of the company's products would lead to a 11% decrease in the product's total unit sales. The product's absorption costing unit prod..
Personal income taxes are reduced as part of an expansionary fiscal policy. What is the impact on aggregate expenditures and income?
An investor is considering the construction of a new marina on the Detroit river at a cost of $68m. M&O costs will average $80,000 per year for the first five years, and rise to $100,000 per year thereafter. A major overhaul costing $12m will be requ..
the manufacturer of perfume enters into agreement with several distributor about the price at which the distributors can resell the perfume. The manufacturers who do not agree to the pricing suggestion are not able to sell the perfume.what is The..
What is the least you would be willing to accept to sell your house? c. Why are the answers to the above two questions different?
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