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Suppose the consumtion function is ( C = $500 billion + 0.9Y) and the government wants to stimulate the economy. By how much will the aggregate demand at current prices shift intially (before multiplier effects) with
(a) A 50 billion dollar increase in government purchase?
(b) A 50 billion dollar tax cut?
( c) A $50 billion dollar increase in income transfer?
If the government imposed a minimum wage of w=70, what would be the resulting quantity of labor employed, the wage, and the welfare loss. Also, calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum w..
Gold Trackers watching the value of precious metals and has daily information on prices and sales of gold for the last many years.
In the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting inflation. The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD mo..
Yo=1200 Y=C+I+G C=130+.5(Y-T) I=(-400)-(10R) G=150 T=50 1. Compute private savings 2. Compute public savings 3. Compute the value of the equilibrium real rate of interest (R) 4. Suppose G rises from 150 to 200. What is new R?
The following table shows nominal GDP and an appropriate price index for a group of selected years. Compute real GDP, and indicate in each calculation whether you are inflating or deflating the nominal GDP data.
where a > 1. In addition assume that the firms target own profit maximization, compete (simultaneously) in quantities and have marginal costs equal to c1 = c2 = c. Assume that 1 > c > or equal to 0. Describing the necessary mathematical steps, and..
The market price of the product is $10 per unit and the market wage rate is $8. Labor employed 4, total product 17 labor employed 5, total product 20 labor employed 6, total product 25 labor employed 7, total product 28 labor employed 8, total produc..
What is the annual compounding interest charged? Using the compounding annual interest rate from above, what is the nominal, period interest rate and corresponding effective interest rate if compounding is hourly? Assume 30 days per month.
Suppose two firms 1 and 2 compete in quantities and face a demand curve p = 100 - q. Suppose firm 1 has a constant marginal cost of 10 while firm 2 has a constant marginal cost of 40. Suppose they produce quantities simultaneously. a. Find q..
Valles Global Industries (VGI) is considering selling a product to SohnCo. The contract sells parts for revenue of $32 million a year for 15 years. Their initial investment is $150 million and the equipment has no salvage at 15 years. They esti..
Now.suppose the monopolist has a total cost curve given by TC+16+4Q2(fixed costs are at original level but variable costs changed). Find the monopolist's profit-maximizing quantity and price.How much economic profit does the monopolist earn d)Inte..
As a dentist you find that a person's annual demand curve for appointments are P=500-50Q. The marginal cost for your service is $50 There are three ways you could charge for your services -Charge $50 each time someone makes an appointment -Sell an an..
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