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Given the basic Keynesian model-as a starting point: Y = C + I + G C = a + b Yd I = f (i) I ? f (Y) ie., MPI* = 0 G = Go Tx = Txo * MPI to represent marginal propensity of invest (NOT import) Assume S = -5 + .25Y, then a $10 billion increase in government spending financed by a $10 billion tax increase would: (Think and apply what you know) (Points : 3) have no effect on income. lower the level of income by $30 billion. raise the level of income by $10 billion. raise the level of income by $40 billion.
What is nonprice competition? Why is there an emphasis on nonprice competition in oligopoly markets rather than on lowering prices to gain market share? Explain the concept of market power. Why does a monopolist have market power while a perfectly co..
What are the distinctions between net ordinary income and separately stated income and deductions? What is the rationale for separately stating those items as individual K and the K-1?
Many U.S consumers want their meals in a hurry, but with more service and higher quality food than in traditional fast food restaurants. The result has been the rise of fast casual restaurant chains, such as Daphne’s Greek Café, Boston Market, and pa..
For the closed-economy, one-period model, suppose that U(C,I) = In C + βl, and F(K,N)= ZK^(a)N^(1-a), where β>0 and 0
Discuss the impact of the minimum wage when there are two sectors in the economy, one is subjected to the minimum wage and the other is not.
Which of the following must be true in an economy with a government but with no foreign trade?
Eric tries to eat more healthfully by eliminating cookies, donuts, and similar snacks from his diet. Every day at work, however, co-workers bring in these treats and Eric succumbs to temptation. Which of the following concepts would behavioral econom..
q.suppose you consume nothing but goods x and y. we have two years? of data regarding your consumption and incomeyear
List who you think were the top 5 players (whose ideas were most influential) through Chapter 12. For each, provide a well-written sentence or two describing their contributions to the development of our economic thought.
suppose the quantity of good x demanded by individual 1 is given by x1 10 ?? 2px 001i1 04py and the quantity of x
A manager is trying to decide whether to build a small medium or large facility. Demand can be low, average, or high, with the estimated probabilities being 0.25, 0.40, and 0.35, respectively. If a large facility is built and demand is high, earnings..
What is the argument made by minimum wage laws critics who argue that they create more unemployment than would otherwise be the case? Which Apple supplier has come under intense scrutiny (especially in China) these last few years over its labour prac..
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