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(b) Answer the following questions using the aggregate expenditures model of the economy described below. C = 90 + .7Yd T = 50 + .2Y Ia = 36 Ga = 45 Xa = 62 M = .16Y i. What are the marginal propensity to consume, the marginal tax rate, and the marginal propensity to import? ii. What is the saving function? What is the marginal propensity to save? iii. What is the aggregate expenditure function? What is autonomous expenditure? What is the marginal propensity to withdraw? iv. What is the equilibrium level of real GDP? v. What is the size of the multiplier? vi. Suppose the full employment level of real GDP is $350. Does a recessionary gap or an inflationary gap exist? How can the government eliminate the gap by altering government expenditures?
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Is it possible to collect new tax revenue, and at the same time guarantee that the poor individual will not be made worse-off by the new carbon tax? Be specific, and make sure you calculate the final tax revenue. Assume the government is able to o..
Explain the various major reasons why the quantity of education in a country would likely be less than the efficient amount in the absence of any government intervention. Include a carefully labeled and well-explained supply-demand diagram that sh..
If you could live anywhere in the world, where would you choose and why? What is one location in the world you would never, ever live? Why not?
Which of the following is an example of a change in the quantity demanded? (Hint. For which items is there a direct change in price that leads to a change in quantity demanded) Markets are more efficient when information is perfect;
What are issues in choice of functional form and what would be an alternate functional form that avoids these issues?
From the e-Activity, examine the federal budget over the past 25 years. From the data, determine which of the two (2) forces appears stronger: falling revenue or spending growth. Speculate on the main reasons for the trend. Provide a rationale..
The price of Labor (L) is $50 for each unit and the price of capital (C) is $20 per unit. How much labor and capital should Joy employ to produce 100,000 units? Find out the total cost of production?
locate a news article about an issue that has been addressed through e.g. poverty pollution etc. in order to conduct a
With an aid of diagram (consist of both demand & supply curves) show & explain what happens to the equilibrium price & quantity when:1. the preference for pepsi suddenly increases 2. the price of milk has increased which increased the cost of ice cre..
by outsourcing overseas a company can reduce costs but must also take certain risks. global supply chains are exposed
Sweetgrass Radiology Labs has a fixed amount of radiology equipment. The laboratory can hire any number of radiology technicians per hour to produce radiographs, which are displayed on a screen.
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