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Q. Assume you are a typical consumer and expect to work for 40 years (from this point onward) and to live for 10 years beyond superannuation. Suppose as well that you have perfect foresight, and, if necessary, have the ability to borrow to support future consumption (i.e., you have no liquidity constraints). Explain how much does consumption change this year in absolute dollars ($ ΔC) as a result of a $5,000 annual tax cut to your income, if the tax cut:
A. is permanent, and will begin immediately (this year)?
B. will last only for the current year (i.e., a 1-year temporary tax cut)?
A Fenway park, home of the Boston Red Sox, seating is limited to 39.000. Hence, the number of tickets issued is fixed at that figure. Seeing a golden opportunity to raise revenue.
Suppose you read in the newspaper that all last week the Fed conducted purchases in open market, and that on Tuesday of last week it lowered the discount rate.
Find the autonomous expenditure and induced expenditure in this economy.
If income rises from 1000 to 1800 and consumption rises from 1100 to 1700 the marginal propensity to save.
Microsoft emerges to have a monopoly with over 90% of the personal Calculator operating market. Why then would it not be charging a monopoly cost.
The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.
The quantity demanded of the resource in each year is given by the equation Qt = 10 - Pt . The marginal cost of extraction is zero.
Which of the government policies below is not likely to encourage per capita economic growth.
Visualize you are a manager for good or service used. From results of the deterioration equation, recommend strategies to either preserve demand if an increase over 3 periods occurs or improve demand
Why do proponents of active policy recommend government intervention to close an expansionary gap. Some economists argue that only unanticipated increases in the money.
Explain how each change mentioned in the article impacts upon the aggregate expenditure model.
Consider a couple's decision about how many children to have.Assume that over a lifetime a couple has 200000 hours of time either work or raise children.The wage is RM10 per hour.Raising a child takes 20000 hours of time.
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