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Recall from introductory economics that an increase of $1 in government spending may increase GDP by more than $1. The exact amount by which GDP goes up is the multiplier. Using a sample of 41 observations, we estimate the multiplier; its estimated value is 4.0 and its standard error is .4.
a) Find a 90 percent confidence interval, a 95 percent confidence interval, and a percent confidence interval for the true value of the multiplier.
b) Would you believe that the value of the multiplier was 4.2? Would you believe that it was 2.8?
c) If government spending increases bt $20 billion, how much do you predict that GDP will rise? Find an interval in which it is 90 percent likely that the resulting true rise is GDP will br found.
If the national GDP is $559 billion in the base year, and it rises to 577 in year i, and 605 in year 2, what is the real GDP in each year, given that the price index has risen from 100 to 104.5 in the first year and up to 108.3 in the second year ?
Find Louis' optimal consumption bundle of orange juice and pineapple juice each week. Suppose the price of pineapple juice rises to $2 a cup while the price of orange juice remains constant. How much additional income would Louis need to afford hi..
Suppose that the price of good X rises and the price of good Y falls in such a way that the consumers new optimal consumption bundle lies on the same indifference curve as his old bundle.
The federal government cuts spending on the purchase of new goods and services by $35 billion at a time when households are not spending 40% of additional income they receive.
Evaluate the statement: “Restricting imports from other nations will save U.S. jobs.” Include both advantages and disadvantages in you argument
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450 and If the firm produced 800 units per day, its total cost would be $300, and if it produced 500 units per day, its total cost would be $275.
would you expect the price elasticity of demand to be higher at the level of an individual school or at the aggregate
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Explain how an increase in the real interest rate
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HP provided AAA with sophisticated equipment and reliable repair service, for several years. AAA returned a failed piece of equipment. A meeting was held which included Juanito Rios, AAA's representative; Sonia Martinez
Business person A has the option of taking out a bank-loan for opening a store that would compete with business person B, who already owns a store. Business personB, not knowing whether or not A has taken out a loan, can decide whether or notwhether ..
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