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Given that the US economy production function (to calculate current GDP and potential GDP) is : GDP = Y= F(K,L,N) = 0.04K+0.03L+0.03N. The current GDP is produced with K=200, L=100, and N=100, the full employment GDP (potential GDP) can be potentially produced with K=225, L=150 , and N= 150. Given that the average MPS (not MPC) is 0.25 (for problems 1, 2, and 3), and active population is 100 millions. GDP is in Trillion dollars
To apply supply side economics, given that only 40% of the tax credits given to businesses are reinvested, how much tax credit do investors need to move the economy to the full employment level? You should assume that consumption and government spending are not going to change. Hint: First, find the GDP gap, then find out how much extra investment spending is required to fill up this gap. Finally, how much tax cut is needed for the businesses to stimulate the required additional investment spending, knowing that from every dollar of tax cut, businesses will invest only 40%?
Calculate the original market equilibrium price and quantity in absence of the price support policy.
What are the financial markets and what purposes do they serve? What are financial intermediaries? How do these intermediaries function in the economy? What is a federal government budget deficit? What is the national debt? How does a budget deficit ..
What effect do increased regulations have upon a country's PPF and where the economy produces on the PPF? Do regulations cause the PPF to shift?
Exhibit 2-8 represents Robin Hood’s production possibilities frontier. Assume that he currently produce at point G inside the production possibilities frontier. He can produce more bows employing the existing resources more efficient. He can increas..
For what rate of inflation, both the options are equally attractive ? Describe two different methods of "Depreciation" an equipment / plant may undergo (with numerical example)
Which of the five characteristics listed in the text for human service professionals do you think is most important? Explain why.
Wilson is offered a job in Kansas City that pays $50,000 and a job in Dallas that pays $60,000. Which pair of CPIs would ensure that the two salaries have the same purchasing power?
Lean Burger's drive through receives 20 customers in every ten minutes of business time.
Which of the following statement completions is CORRECT? If the yield curve is upward sloping, then the marketable securities held in a firm's portfolio, assumed to be held for emergencies, should
Based on a random sample of 10 values from a normal population with mean μ and standard deviation σ, you calculated that xbar = 10 and the sample standard deviation = 4. Estimate a 95% confidence interval for the population mean. Which probability di..
Find the Nash Equilibrium of the game and explain why your result is the equilibrium. If the Nash Equilibrium the best outcome for the game? If not, explain how this outcome can be improved.
Home (H) and Foreign (F) produce autos and shirts using capital (K) and labor (L). Draw a PPF-Budget Constraint-Indifference Curve diagram for each country that shows the autarky (no-trade) equilibrium, indicate what the country is producing and cons..
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