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An economy is operating with output $400 billion below its natural level, and fiscal policymakers want to close this recessionary gap. The central bank agrees to adjust the money supply to hold the interest rate constant, so there is no crowding out. The marginal propensity to consume is 4/5, and the price level is completely fixed in the short run. In what direction and by how much would government spending need to change to close the recessionary gap? Explain your thinking.
What is crowding out? Can it hurt private industry? What else can occur that might cause private industry great problems?
Hot chocolate is made from chocolate syrup and milk. Using a separate supply and demand graph for each question, please show the effects of the following events on the market for hot chocolate (please specify the change in demand, supply and the equi..
Illustrate what should be the production level if the producer operates in a monopolistic competitive market where the cost of software at each possible quantity
Suppose an economy is characterized by the following equations: C= 520 + 0.6 Yd Yd = Y - T I = 500 G = 500 T = 400. Is this economy closed or open? Explain. Determine the following: 1) The equilibrium level of GDP(Y)
XYZ Co. manufactures bicycles. Demand for this year’s model is expected to occur at a constant annual rate of 7200 items. One bicycle costs $245. The holding cost is based on a 11% annual rate, and production setup costs are $340. Use the production ..
Assume that imports increase supply. In terms of demand, supply and consumer surplus, why would consumers prefer more imports? Adam Smith studied a pin factory and found that 1 individual doing all tasks necessary to make a pin could only make severa..
This exercise presents a simple example to elucidate how exchange-rate conversions can produce misleading results and how the PPP methodology works.
Explain the structure of the federal judicial system. What are the responsibilities of each part of the system? Need the response to be at least 200 words
Let a firm be in long run competitive equilibrium. The market price will be equal to
sketch a production indifference curve indicating that CCC can produce no more than 1,000 containers with this expenditure.
q1. short run profit maximizingthe producer of high-quality flatbed scanners is tiresome to decide what price to set
Which assumption about consumer preferences is violated in this scenario. Randy likes basketball more than football; football more than baseball; and baseball more than basketball.
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