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Suppose the government increases education spending by $20 billion. Based on an MPC of 0.75, how much additional consumption will this increase cause? Show your work.
If Latanya plans to use the phone for one hour to talk with only one person, with whom would she rather speak.
The demand for milk is more elastic than the demand for water. Suppose the government levies an equivalent tax on milk and water. W hy he deadweight loss would be larger in the market for which item.
Elucidate how much the last input added to the total amount of revenue. Elucidate how much the last input added to the total amount of production.
Can you explain the practice of scalping tickets for major sporting events in terms of market shortages? How else might tickets be distributed? If rent controls are so counterproductive, why do cities impose them? How else might the housing problems ..
Assume an economy with an aggregate production function of the form Y = 1.5K. If the nation’s population grows at 5%, the rate of depreciation is 3%, and the savings rate is 8%, what is the steady-state output per capita level?
Compute the equilibrium level of income. Sketch this equilibrium position using a two-dimensional graph.
What is the firm's short-run demand function for input Z? How much input Z will the firm use when the price is $40? When the price is $80?
Someone proposes to buy the farm from you for $1 million. Would you make more by selling the farm or keeping it
Illustrate money supply should the Bank of Canada set next year if it wants to keep the price level stable.What money supply should the Bank of Canada set next year if it wants inflation of 10 percent.
q.1. find the sample correlation coefficient between x and y.2. how would you decide if a simple linear regression
q1. explain why the following situations would occur in terms of the factors that affect elasticity.a demand for
Why would the government bypass the free market in times of war? Is government rationing a better idea than rationing by price? Give reasons. How does government rationing affect the allocation of resources? Explain.
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