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Assume the economy is in short-run equilibrium and there is less than full-employment output. Also assume that the marginal propensity to consume (MPC) is equal to 0.8.
a. What is the value of the government spending multiplier in this case?
b. Given the size of the multiplier, what would be the implied change in income (gross domestic product) from the stimulus spending of $500 billion?
Which of the following is the most fundamental assumption in economics?
Utilizing the standard IS/LM model, elucidate how the scope of monetary policy to change real economic activity in the short run depends on the private sector reaction to interest rate changes.
Bob’s Breakfast, a perfectly competitive restaurant, sells its Breakfast Special (the only item on the menu) for $5.00. The costs of waiters, cooks, power, food, etc. average out to $3.95 per meal. The costs of the lease, insurance and other such exp..
If an industry's long run per unit costs are constant as its output increases then?
Compute the average revenue and the marginal revenue of a fully competitive firm and illustrate in diagrams both the curves of the average and the marginal revenue.
The federal government and the state governments constitute the U.S. legal system. This system is based on the legal system of
Suppose the demand of the good is P = 10 - Q. A monopolist's total cost is TC = 2 + 4Q. What's the optimal price and quantity of the monopolist? B. Calculate the monopolist's profit (or loss).
Ilustrate what is the marginal propensity to consume (MPC).
What would happen to his attempt to attain a blanaced budget? How would the President tell that his economy is approaching equilibrium or getting better?
Use the Mundell-Fleming model to try to understand the basis for this criticism and show a possible policy that Germany might pursue that could have a beneficial impact on another member country of the euro zone. how do the equation(s) of the model (..
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equatio..
Describe the expansion of suffrage in the United States since the Founding. Why might the government have denied participation to so many for so long? What forces influenced the expansion of voting rights? Describe and give examples of some forms of ..
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