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Here we investigate a particular example of the model studied in Sections 9-2 and 9-3 with no government. Suppose the consumption function is given by C 100 .8 Y , while investment is given by I 50.
a. What is the equilibrium level of income in this case?
b. What is the level of saving in equilibrium?
c. If, for some reason, output is at the level of 800, what will the level of involuntary inventory accumulation be?
d. If I rises to 100 (we discuss what determines I in later chapters), what will the effect be on the equilibrium income?
e. What is the value of the multiplier, , here?
f. Draw a diagram indicating the equilibria in both ( a ) and ( d ).
Discuss the challenges of producing a system with leading edge technology while conducting systems integration and meaningful independent testing.
what is the effective corporate tax rate?
If the Fed's inflation target is 2 percent, potential output growth is 3.5 percent, and velocity is a function of how much the interest rate differs from 5 percent: % ? V - 0.5 A (i - 5) Suppose that a model of the economy suggests
where K represents capital equipment and L is labor. Your company owns 4 units of capital equipment and does not have the flexibility needed to acquire additional equipment (that is, capital is fixed at K = 4). Your company is currently employing ..
A firm produces output according toa production function Q = F(K,L) = min {2K,4L}. a. How much output is produced when K =2 and L = 3 b. If the wage rate is $30 per hour and the rental rate on capital is $10 per hour, what is the cost-minimizing in..
You are considering buying a new car with a part of your student loan dollars as you really do not need the extra cash now. You have two alternatives with the following cost structures. Speedy Initial cost = $20,000Annual operating cost = $8,000 Us..
Write down the unit cost of producing one yard of cloth and one calorie of food as a function of the price of one machine-hour, r, and one work-hour, w. In a compet- itive market, those costs will be equal to the prices of cloth and food.
You work on a doughnut farm--you grow doughnuts. In each period, you are able to grow 20 doughnuts. If you go to the coffee & doughnut exchange, you may buy and sell doughnuts for $1 each, and buy and sell coffee for $2 each.
Suppose there are five goods in the economy, A-E. The current-year quantity of each is 10A, 20B, 30C, 40D, and 50E. Current-year prices are $1 for each unit of A, $2 for each unit of B, $3 for each unit of C, $4 for each unit of D, and $5 for each..
A 10-year, 12%, $1000 bond that pays dividends quarterly can be purchased for $900. If the bond is purchased and pays as scheduled, calculate the nominal and the effective rate of return that the purchaser receives.
How many units should be produced to maximize profit? How do this company's marginal costs behave as output increases? Provide a logical explanation as to why a computer manufacturer's marginal costs might behave in this way.
These data were used to build a multiple regression model to predict the job performance of new hires based on age and GPA. The results of the analysis are shown below. Regression Analysis: Job Performance versus Age, GPA
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