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Assume a simple keynesian depression economy with a multiplier of 4 and an initial equilibrium income of 3,000. Saving and investment equal 400 and assume full employment income is 4000.
a) What is the MPC and MPS?
b) How much would government spending have to rise to move economy to full employment.
c) assume the government plans to finance any government spending my raising taxes to cover increase in spending. How much will government spending and taxes have to rise to move economy to full employment?
d) From the initial equilibrium, if investment grows by $100 what will be the new equilibrium level of income and savings?
The following data(stored in the file Wholefoods1)compared the prices of some kitchen staples at the new Whole Foods market and at the Fairway supermarket located about 15 blocks from Time-Warner building.
Suppose the price of housing increases to 3, but the price of food stays at 10. Rewrite Jane's budget constraint and draw it on a graph. Now suppose the price of housing decreases to 1. Rewrite her budget constraint again.
A) What are the free trade equilibrium conditions (equilibrium price and equilibrium quantity)? B) If there were to be an import quota of 200 units, then how would the equilibrium price and quantity change? C) How would you say that the quota has aff..
question 1explain how the original phillips curve differs from the expectations-augmented phillips curve or the
Since the end of World War II, some countries have achieved great strides in a variety of development indicators, whilst others have stagnated, and still others have had mixed experiences.
Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees In many smaller cities all McDonald's outlets are owned by the same franchisee. Why is (or isn't) this fac..
According to your estimate, elucidate what happens to the Transit Authorityas revenue when the fare increases.
Refer to the above data. If the product price is $60, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations. Refer to the above data. If t..
Examine the fiscal policies in place at the start of your specific time period in relation to their effects on macroeconomic issues.
fiscal policy is a very precise tool for controlling aggregate demand. if the government wants to increase aggregate
The text identified three goals of macroeconomic policy: (i) Minimize unemployment, (ii) Minimize inflation and (iii) Maximize economic growth. Obviously, these goals have elements that conflict with one another. Which do you think we are doing the b..
In 2010, the money supply, M1, was $1,832 billion.Nominal GDP was $14,660 billion. What was the velocity of money measured using M1?
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