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a) If the desired fiscal stimulus is $20 billion and the desired AD increase is $50 billion, we can conclude that the MPC is: b) To eliminate an AD shortfall of $120 billion when the economy has an MPC of 0.8, the government should decrease taxes by:
With the help of an AD-AS diagram, explain the effect on the price level and real GDP. Use an upward sloping AS curve and be clear about the interconnections among markets.
What might be included in the "total cost" of acquiring and watching movie on DVD? What about the "total cost" of seeing a movie at the multiplex?
How might there be increase in total spending on a child's education in response to providing a fixed level of education?
At what price will she buy four visits? Eight visits? What is the elasticity of between a price of $5 and $6 per visit? Between a price of $29 and $31?
Shelly's preferences for consumption and leisure can be expressed as. This utility function implies that shelly's marginal utility of leisure is C-200 and her marginal utility of consumption is L-80.
Which country is capital abundant according to the Heckscher-Ohlin theorem? Given your answer to (a), draw the PPF for Canada. Also draw the indifference curve and the relative price line for the no-trade equilibrium.
Suppose we have a competitive market for a good with domestic demand and supply given by:
What is your economic cost of buying a ticket? What is your economic cost of attending the game (once you already bought the ticket)?
Using the following schedule, define the equilibrium price and quantity. Explain the situation at price of $10. What will occur? Discuss the situation at a price of $2. What will occur?
What is the difference between the medium of exchange and the store of value? What is the difference between commodity money and fiat money?
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
Assess the degree of difficulty associated with measuring marginal revenue product for each of the following occupations.
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