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Difficulty identifying formulas for use. also, do multipliers and autonomous spending have to be calculated for item 1/IS curve? For the last item, does autonomous consumption and investment have to be computed to derive?
Assume following (equations) summarize/represent structure of economy. If:
C=Ca + 0.75(Y-T)Ca=800-25rT=400+0.2YIp=600-25rG=1200(M/P)^d = 0.2Y-20rM^s/P=700
1. What are equations for IS and LM curves? What is equilibrium level of income and interest rate? What if mix of fiscal and monetary policies is changed. Te money supply is increased by 100 while government spending reduced by 250:
2. Does investment increase, decrease or remain unchanged? Why/calculate.
3. Does consumption increase, decrease or remain unchanged? Why/calculate.
We make choices as consumers every day. Opportunity cost is defined as a person's "next best alternative" or "the cost of what you give up when you make a choice."
Evaulate the price elasticity of demand for subway rides. The subway fare in your town has just been increased from the current level of 50 cents to $1.00 per ride.
In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space.
Describe the effect of increase from 1998-1999. How would the increase in demand affect the price? How would the price effect depend upon the price elasticity of supply? Please describe how. (Explain the illustration instead of actually drawing it)
Evaluate the MU in the utility functions
What are some things that would affect changes in supply? How can quantity demanded be changed and what if the government raised the minimum wage. How would this policy effect your firm?
Find out the equilibrium price and quantity and illustrate with a graph. The government imposes a tax of $5.00. Find the new equilibrium price and quantity. Determine the total tax revenue earned by the government
What was the Neolithic Revolution. Explain
Assume the economy starts at equilibrium and the mpc=.8. What would be the effect of the $500 increase in taxes (once all the rounds of the mulyiplier process are complete) in relation to equilibrium output?
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
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