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Suppose the Council of Economic Advisors (CEA) hired you as an Economist (Economic consultant). The head of the council tells that she believes the current unemployment rate of 9 % is too high. They would like to increase real aggregate output (RGDP) . She wants to know what policy to pursue to increase RGDP by $2 trillion ($2,000 billion) . The best estimate she ga ve you is the value of MPC = 0.8 . Which of the following policies should you recommend and why? You need to show your work of estimations and explain in words. 4 pts a. Increase government expenditure (G) by $400 billion b. Reduce taxes by $400 billion c. Reduce taxes by $400 billion an d increase govt. expenses by $200 billion d. Increase G by $5 00 billion
Discuss utility and some of the properties about people's preferences. One is that "more is better ".do you agree that is always the case and if not do you have an example?
Assuming that prices are set competitively (i.e. set equal to MC of producing services), show in a supply-demand graph how we could measure the “efficiency loss” (or deadweight loss) associated with health care over-consumption.
Can Alpha make a credible threat to punish Beta with a retaliatory price cut
Workers make the supply decisions in labor markets, but firms (represented by hiring managers) make the demand decisions. Will firms want to hire more workers or fewer workers when the wage rate rises? What are some techniques employers can use to ..
Do you find the most important aspect of our economy that needs to be fixed is the budget deficit?
Analyze the characteristics which make any transaction possible and justify the importance of each of the characteristics.
Calculate the after-tax nominal interest rate, then subtract off inflation to get the after-tax real interest rate for both cases.
As oil prices rose during 2006, the demand for alternative fuels increased. Ethanol, one alternative fuel, is made from corn.
Compare the magnitude of the percentage in the rental on capital with percentage change in wage in part 1. Use notation format.
Paula has set aside $60 monthly budget to attend plays and watch movies. She likes plays exactly three time as much as she likes movies. Draw her indifference curves. If the price of movies decreases to 4 dollars how many movies will she see?
Given the equation of exchange set forth by the quantity theory of money (M x V = P x Q), where M is the supply of money, V is the velocity of money, P is the price level, and Q is real output, which of the following best defines M?
Some businesses will examine their pricing structure and modify it in order to maximize revenue, either by raising or lowering price. Why organization chosen lower prices to increase revenue.
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