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Calculate MPC, MPS and the Multiplier if consumption expenditure increases by $4,250 as a result of increase in income from $40,000 to $45,000.
The demand for a product is Qd = A - Bp where A and B are positive constants. Suppose when the price is $1, the amount demanded is 60 and the elasticity of demand is -1. What are the values of A and B?
Enlighten the budgetary challenges state governments would face if the economy were to go into a recession also the unemployment rate were to increase.
q1. the price of good is 1.20 per unit also annual demand is 800000 units. market research indicates that an increase
Suppose good X is a normal good. Then a decrease in income would lead to
Select an asset of your choice. For example you may select an appliance in your home, office, or in another place that have been in use for many years and you are thinking is time to replace it by a new one. After selecting the defender equipment and..
Given a production Yt=(Abar)Kt^(1/3)Lt^(2/3) and K*=1000 and Abar=3/2. and also there are Lbar=1000 workers who supply labor in elastically. What does the long run model say wage in this economy is?
Illustrate what is the minimum price necessary for the company to supply one thousand cups.
Briefly explain the difference between economic forecasting and business forecasting. What is the best economic tool to help the leaders to see future better than others economically 6 to 9 months before the cycles of the business cycles of the US ec..
Suppose that there are 10 million unemployed workers in a country and 90 million employed workers. Suppose we know that the fraction of workers who lose their jobs in a given month is .02 and the probability that unemployed workers find work in a giv..
Illustrate why does the GDP deflator give a different rate of inflation than does the CPI. Illustrate what is the difference between a medium of exchange and a store of value.
Suppose the price of good 1 is $2, and the price of good 2 is $1. Derive Pete’s demand function for good 1 (as a function of income). Is good 1 normal for Pete? How about good 2? Plot the Engel curve for goods 1 and 2 (with income on the horizontal a..
determine what would happen to total revenue if a firm raised its price in each elasticity range identified.
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