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A consumer has initial real wealth of 20, current real income of 90, and future real income of 110. The real interest rate is 10% per period.
a. Find the consumers' PVLR
b. Write the equation of the consumer's budget constraint(using the given numerical values) and graph the budget line.
Suppose that the consumer's goal is to smooth consumption completely. That is, he wants to have the same level o consumption in both the current and the future period.
c. How much will he save and consume in the current period?
d. How will his current saving and consumption be affected by an increase of 11 in current income?
e. How will his current saving and consumption be affected by an increase of 11 in future income?
f. How will his current saving and consumption be affected by an increase of 11in his initial wealth?
Read the article titled - Mankiw, "The Macroeconomist as Scientist and Engineer" ( you can find it online). Please provide a couple paragraph on your thoughts regarding this article and whether you agree or disagree with the author.
1. One factor which did not influence the levels of real output and employment in the classical system was the
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Given the above prices, will the firm adopt a new method which involves 10 units of land, 3 of labor, 2 of capital, and 2 of entrepreneurial ability?
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Illustrate the quantity of laptops demanded, the level of imports of laptops, the price paid for laptops and the consumer surplus
what one thing about the experience made you feel good about it? Why? In reflecting on the unpleasant experience, what one thing about the experience made you feel uncomfortable about it? Why? Consider what you do for work on a day-to-day basis. G..
Suppose that the money market is initially in equilibrium and that money supply is then raised. Explain the adjustment toward a new equilibrium interest rate.
suppose megabus nds a way to determine if a potential rider is a student or not. they use this information to engage in
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