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The basic facts about the path of GDP are as in problem 1. But there is now a one-period outside lag for government spending. Decisions to spend today are translated into actual spending only tomorrow. The multiplier for government spending is still 2 in the period that the spending takes place.
a. What is the best that can be done to keep GDP as close to target as possible each period?
b. Compare the path of GDP in this question with the path in problem 1 after policy actions have been taken.
What if she can lend and borrow money at a 15 percent rate of interest? Will she choose a different option? Why? b. Suppose musical conservatories raise their tuition so that it now costs Debbie $60,000 to become a concert pianist. What career wil..
Suppose you may choose between two machines for production atyour store. Both machines have a useful cycle of 10 years. MachineA cost $10,000, leaves an annual (EOY) income of $2,500, machine Ahas annual expenses of $1,000
Assume that two companies (A and B) are duopolists who produce identical products. Demand for the products is given by the following linear demand function: P = 200 Â- Qa - Qb Where Qa and Qb are the quantities sold by the respective firms.
The demand for bottled water in a small town is as follows: Price per bottle Quantity demanded $1.00 500 $1.50 400 $2.00 300 $2.50 200 $3.00 100 Calculate the price elasticity of demand for bottled water for a price rise from $1.00 to $1.50.
what unemployment rates would we expect to see in this economy?b. Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) ..
How do tax rates influence the rates of spending relative to the potential for economic growth from lower rates?
A team of carrying materials costs $ 15,000 and is expected to save 3,000 in operating costs the first year. The increase in operating and maintenance costs will reduce the net savings $ 250 per year until the equipment is replaced at the end of y..
Beatrice has calculated the fixed costs for the Café are $18,000 per month and each meal costs $4.50. Will profits go up or down as a result of the price cut? By How much?
There is a single difference: we've changed the exponent on At in the production function of the output good so that there is now a diminishing marginal product to ideas in that sector. 1. Provide an economic interpretation for each equation.
The production function for product y is given by y = min {l; 2k}. The price of capital is r = 120 per day and the price of labour is w = 30 per day. Determine the (daily) total cost C(y) and marginal cost MC(y) of manufacturing this product.
a. Derive the demand and supply curves (qd and qs). b. What is the equilibrium price and quantity c. If P=$160 what will be the forecast of quantity demanded and quantity supplied d. At the price of $160 will there be either a surplus or shortage. Wh..
If American workers produce 4 cars a year and 10 tons of grain and Japanese workers can produce 4 cars per year and 15 tons of grain, what would the PPF (Production Possibilities Frontier) graph look like
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