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In order to financially stimulate the nation, the Federal government injected $900 billion dollars into the economy. However, the results were less than spectacular. One reason could have been a failure to understand the marginal propensity to consume. Assume the marginal propensity to consume (MPC) was only 0.4. How much of that $900 billion went to increased consumption? Where did the rest of the money go?
Increased consumption: ________________________
Where did the rest go? _________________________
Using MPC = 0.4, what is the spending multiplier (the actual numerical value please):
___________________
What was the implied change in income as a result of the stimulus package?
Determine whether GDP will be underestimated or overestimated in each of the following:
Suppose there are two consumers of a public good, Barbie (B) and Ken (K). Their demand curves for the good are given by: Graph Barbie’s demand curve. What is the slope? Graph Ken’s demand curve. What is the slope?
Show that the gross increase in profits from raising price by dp equals pqt(1 - tε). Recall that t = (dp/ p). Show that the gross decrease in profits from raising price by dp equals mptqε.
The Rustin Transportation Planning Board estimates the cost of upgrading a 4-mile section of 4-lane highway from public use to toll road to be $41 million now. Resurfacing and other maintenance will cost $820,000 every 4 years. A toll road would requ..
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q.the private marginal cost is mcp 80 q while the marginal harm to the rest of society from gunk is suppose the
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with the help of appropriate diagrams explain the following statement whether it is true false or uncertain an increase
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Assume that the level of GDP increased by $100 billion in a private closed economy where the marginal propensity to consume is 0.5. Aggregate expenditures must have increased by.
Your company is interested in analyzing the behavior of interest rates and the models used to predict interest rates in the future. As an initial project in this area, If the market-clearing price (market equilibrium) of this bond has a return of 20%..
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