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In order to financially stimulate the nation, the Federal government injected $900 billion dollars into the economy. However, the results were less than spectacular. One reason could have been a failure to understand the marginal propensity to consume. Assume the marginal propensity to consume (MPC) was only 0.4. How much of that $900 billion went to increased consumption? Where did the rest of the money go?
Increased consumption: ________________________
Where did the rest go? _________________________
Using MPC = 0.4, what is the spending multiplier (the actual numerical value please):
What was the overall change in income as a result of the stimulus package after the multiplier completely works its way through the economy?
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..
Lucinda Lacy purchased a foreclosed house today for $105,500 by making a down payment of 15% of the purchase price and paying closing costs of: Lucinda has a mortgage loan with an interest rate of 3.9% APR, compounded monthly for 30 years. Her taxes ..
Sam is interested in buying two types of goods, x and y. He can either use all his income to buy 3 units of x and 9 units of y, or 9 units of x and 3 units of y. If he spends all his income on x, how many units can he buy?
What is the present value of innovation to the innovating firm? In a patent race, what might each firm be willing to spend on research and development?
Contrast two or three key economic factors for this country with the U.S. economy, and comment.
The computer industry not spread more evenly around the globe? Identify three product categories for which you think the markets are global. Can you find three that are multi domestic? What market data would you need to support your assertion?
the government limits the amount of land that can be devoted to tobacco production. Are these two programs at odds with the goal of reducing cigarette consumption
You must summarize the criminal conduct, identify offense by name and type (i.e., mass murder, a crime of violence, stranger to stranger), then discuss the following questions as outlined below. Discuss the crimes they committed, the reason(s) provid..
Find the 90% confidence interval for the compensation of a year when the productivity is 85 and interpret the CI.
An industry said to be characterized by monopolistic competition is the apparel industry. Suppose you were hired as a consultant by a firm in this industry. How would advise the firm as to the levels of output, price, input usage, and advertising?..
The following national income is in billions of dollars: Net domestic product equal?
Suppose that the annual growth in real income in Japan is expected to be between 2 and 3 percent and that income elasticity of demand for housing in Tokyo is estimated to be between 0.8 and 1.0 for rental units and between 0.7 and 1.5 for owner-occup..
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