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GDP and the Multiplier Application Most estimates indicate that the marginal propensity to consume in China is approximately 0.50. If we ignore a rise in the price level generated by a boost in aggregate demand that results from an increase in real autonomous spending, the value of the multiplier would be about 2. [This is so because 1/(1-MPC) = 1/(1-0.5) = 1/0.5 = 2]. Economists at the Hong Kong Monetary Authority have estimated, thought, that the short-run effect of an initial rise in real autonomous spending on China's real GDP is actually much smaller.Therefore, once the effect on real GDP of an upward price level adjustment is taken into account, the estimated result from a one-unit increase in real autonomous expenditures is only a 1.1 unit increase in China's annual real GDP.By about how much would China's equilibrium real GDP change if the nations's net export spending declined by 1 trillion yuan?What Implications would this change in Chinese GDP have for U.S. exports, imports, and GDP?
Illustrate which combination of fiscal policy actions would be most contractionary for an economy experiencing severe demand-pull inflation.
Discuss contributions of competing and dominant school of thought to evolution of labour economics; mention paradigm differences and distinctions between old labour economics and new labour economics.
how the economy moves to a new equilibrium. Focus on short-run as well as long-run equilibrium.
question 1 nbspa group of rogue french farmers has gone on a furious egg breaking rampage destroying tens of thousands
If hospitals begin to affiliate within regions, would you expect that unnecessary duplication of facilities would increase, decrease or stay the same?
Although there seems to be a great demand for your bread, why would productivity decline when you hire more labor in the short run?
Some firms with monopoly power are more focused on market share, size and influence in the economy. This is particularly true if there is a tendency for ownership (stockholders) and control (managers) to be separated.
Find the equilibrium price and quantity after the shift of the demand curve.
Even though we recently became a net exporter for gasoline, it appears that for our overall trade with other countries, the U.S. is a net importer and I'm sure, you all know, especially with China, we are huge net importer. Is that good? Which is bet..
Suppose you have two goods, ice cream and macaroni(an inferior good to most people). show graphically what would happens when the price of the ice cream decreases and income increases.
Businesses have to make many financial decisions that have a direct impact on operations and the ability to successfully compete in the marketplace.
If the economy is competitive so that factors of production are paid the value of their marginal products, illustrate what is the share of total income that will go to land.
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