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Consider our standard formula for GDP: Y=C+I+G+X. Additionally note that consumption is given by: C = a+b(Y-T) where T= -20+0.2Y. You also know that : a=150 ; I = 500 ; G = 385 ; X = -7 Furthermore you knowthat the marginal propensity to save (MPS)equals 0.4 Calculate the following: a.) Marginal Propensity to Consume b.) Government spending multiplier c.) Tax multiplier d.) Y* e.) Government Deficit
Assume the following payoff matrix in which the numbers indicate the profits in millions of dollars for a duopoly based either on a high price or a low price strategy.
For each of the following concepts provide a definition, a complete explanation as to their significance, and a practical example.
What are two or three methods currently being used to encourage economic growth for the typical company in Hong Kong and typical company in Singapore?
Define and describe the difference between the absolute advantage and the comparative advantage.
How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps. Is the Phelps' plan an improvement over current government policies? 3. The availability of investment capital is critical f..
Select two companies whose product(s) you use in your daily life. You may choose anyfirms you wish, as long as their information is publicly available(as to their products and financial information) and they are knownto the average person.
A monopolist faces the following demand curve: P=120-0.02Q-What is the level of production, price and total profits per week?
Suppose a new deposit to the US banking system of $1000. Assume that all commercial banks have a target reserve ratio of 10 percent and there is no cash drain.
Is the economy of a big city more competitive than that in a small town or given neighborhood? How? Do you think your local grocer has monopoly power?
Plato, a Greek philosopher who lived from 427BC to 347BC, famously wrote that, "Necessity is the mother of inventions."you agree with this statement.
Countries A and B have the same rates of investment, population growth, and depreciation. Country A has a higher rate of growth than does Country B. According to the Solow model, which country has higher investment in human capital?
Are retail gasoline prices essentially equilibrium prices? Why or why not? In most markets, are prices typically at the equilibrium? Why or why not? What might keep prices from moving to the equilibrium?
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