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Assume that the banking system has total reserves of $200 billion. Assume also that the reserve ratio is 40 percent and that there is no currency in this economy.a. What is the money multiplier? What is the money supply?
b. Suppose the Fed then raises legal reserve requirements and causes the reserve ratio to increase to 50 percent of deposits. What is the new value of the money multiplier? What is the change in the money supply?
2. Suppose that nominal GDP is $8,000 billion, the GDP deflator has a value of 2, and velocity is 4. Also assume that velocity does not change over time.a. What is the value of real GDP? How big is the nominal money supply?
b. If the Federal Reserve wants to keep the annual inflation rate constant at 1 percent, and the average growth rate of real GDP over time is 3 percent per year, how fast should the money supply grow on average over time to achieve the target inflation rate?
What is the multiplier? How is it calculated? Why is the multiplier related only to consumption spending?
Calculate total revenue, marginal revenue, marginal cost, and average cost at each level of sales fo the store. If Swim N Style is a profit maximizer, what number of suits will it sell per hour? What will its price and profit be? How can you tell wha..
Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth)..
Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P Qd = 50000 - 10P
A small company expects to produce 8,000 items in the upcoming year. The current material cost is $5.25 each. 14 minutes of direct labor are required per unit. Workers are paid $7.50 per hour. 2,133 direct labor hours are forecasted for the produc..
Proponents of the program have said that $400 million will be given directly to taxpayers and argue that this will have an economic effect that is greater than the original $400 million spent because of the multiplier effect. Many voters and taxpa..
The best level of output for a monopolist in the short run is 500 units and is MR=MC. At this point Q=500, P= $11 and ATC= $8, so that the monopolist earns a profit of $3/per unit and a total profit of $1,500. Suppose that the AFC of the monopolis..
WHAT FUTURE AMOUNT OF MONEY WILL BE ACCUMULATED 10 YEARS FROM NOW BY INVESTING $1000 NOW PLUS $2000 FIVE YEARS FROM NOW AT 6% INTEREST COMPOUNDED SEMI-ANNUALLY
The Zenvox Television Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5I, where Q is the number of televisions, P is the price per television and I is the average monthly income. Average monthly income i..
Consider a monopolistically competitive -market with N firms. Each firm's business opportunities are described by the following equations: Demand: = - Marginal Revenue: = - 2 Total Cost: = 50 + Marginal Cost: = 2
Suppose that two players are playing the following game. Player A can choose either Top or Bottom, and Player B can choose either Left or Right. The payoffs are given in the following table: Player B LEFT RIGHT
A person arranges to repay a a$1000 bank loan in 10 equal payments at a 10% annual interest rate. Immediately after his third payment he borrows $500, also at 10% annual interest rate. When he borrows the $500, he talks the banker into letting him..
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