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If the demand for housing falls, reducing planned investment by $75 billion, what is the effect on national income and output (GDP) (the consumption function is c = 50 + 0.7 (yd))
I know that reducing planned investment decreasing will reduce overall GDP. But I'm not sure what the significance of the consumption function is in this question?
The economy has two sides. One side is the aggregate demand side. Elucidate the relationship between the price level and the quantity demanded of Real GDP.
Explain what will happen in the countries to which the immigrants return to potential GDP, employment, and the real wage rate.
Find the total industry output and the number of firms in the market. How much economic profit does each firm in this market make?
q.assume a calculator virus disables the nations automatic teller machines making withdrawals from bank accounts less
Explain why does a newspaper dispenser open to a stack of newspaper and essentially "trusts" a consumer to take just one copy.
Compute the corresponding Compensating and Equivalent Variation. Illustrate your answers graphically. Compute the compensating demands for goods X and Y. Illustrate your answers graphically.
Camille's Creations and Julia's Jewels both sell beads in a competitive market. If at the market price of $5, both are running out of beads to sell (they can't keep up with the quantity demanded at that price), then we would expect both Camille's and..
Is it reasonable from an economist's viewpoint to minimize the role of the government in accordance with Nozick's moral argument.
consider an economy in which the amount of investment is equal to the amount of savings i.e. the economy is closed to
Compare and Contrast the features of the retirement plans offered by Creative Games and United Manufacturing. Which plan do you think is more desirable? Why?
A flat tax plan allows individuals to deduct a standard allowance of $10,000 from their wages. Assume that the flat tax rate is 12%. Calculate the amount of income tax and the average tax rate if you were earning: $30,000 a year $60,000 a year
q1. connie and stephen must decide how to split a pie. suppose both of them simultaneously formulate demands x and y.
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