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"Fiscal Policy in the Two-Period Economy Consider the two-period economy with government. Neither the representative consumer nor the government start their lives with any assets (that is, both a0 = 0 and 0 b = 0 ). All taxes that the government levies are lump-sum. In each period, the government has positive government spending (i.e., both g1 > 0 and g2 > 0). The real interest rate between period one and period two is zero (i.e., r = 0), and there are no credit constraints whatsoever. Finally, suppose that the government lives for the entire two periods, and, until part c below, so does the representative consumer.
a. Suppose that the government is currently planning to collect t1 = 3 and t2 =5 in taxes in period one and period two, respectively. A policy change is proposed,
however, that would reduce period-one taxes to t1 = 2 without changing either g1 or g2. If this policy change is enacted, is it possible to numerically compute the amount of tax collections that the government will require in period two? If so, compute it; if not, explain why not."
Compute the percentage change in price and quantity (%ΔP, %ΔQd) by adding this one room. Calculate the Price Elasticity of Demand.
Explain by how much did real GDP increase between 2002 and 2003. Velocity in the country of Shem is always stable.
Challenge of any merger that raises the HHI by 100+ points in a market where the HHI is above 1800 before the merger.
One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone may get hurt.
Do sibs have the expected effect. Explain. Holding medic and feduc fixed, by how much do sibs have to increase to reduce predicted years of education by one year.
To determine which of the output levels represents a macroeconomic equilibrium.
Explain how might you make profits by purchases or sales of bonds now,with the intention to sell in a few months' time.
Elucidate and illustrate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
Assumptions make the nation easier to understand because they simplify reality and focus our attention.
BP Oil is in the process of replacing sections od its Prudhoe Bay, Alaska oil transit pipeline. Illustrate what required return does the project become financially unacceptable.
Explain how much does consumption change this year in absolute dollars as a result of a $5,000 annual tax cut to your income, if the tax cut.
How Farmer jones carrots and buys beets. His income eLasticity of demand for both carrots and beets is posotive.an increase in the price of carrots causes him to.
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