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Suppose that a hypothetical economy is categorized by the following model:
C = 800 + 0.6DII = 500G = 75T = 180X = 25IM = 15
where C represents consumption, DI represents disposable income, I represents investment, G represents government purchases, T represents net taxes, Y represents real GDP, X represents exports, and IM represents imports.
The oversimplified multiplier formula tells us the change in equilibrium GDP with respect to a one-unit change in any component of spending.
What is the value of the oversimplified multiplier formula in this case?
Based on this information, what is the price elasticity of demand for movie tickets at Crown What, if any, other factors could have accounted for some of the decline in attendance leading to an overinflated price elasticity of demand
Recall from introductory economics that an raise of $1 in government spending may raise GDP through more than $1. The exact value by which GDP goes up is multiplier.
Explain difference between profit maximization and shareholder wealth maximization and determine which of these is a more comprehensive statement of a firm's economic objectives?
a. If the Fed requires banks to hold 5 percent of deposits as reserves, how much in excess of reserves does First National now hold b. Assume that all other banks only the required amount, by how much would the economy's money supply increase
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Determine the economic advantages or disadvantages, for the United States speaker company Bose, to start a distribution center in the Czech Republic?
Suppose the residents of Vegopia spend all their income on cauliflower, broccoli, and carrots. In 2005, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 heads carrots for $50. In 2006, they buy 75 heads of caulif..
Suppose that the demand for Federal funds curve is such that the quantity of funds demanded changes by $160billion for each 1 percent change in the Federal funds interest rate. Also, assume that the current Federal funds rate is at the 3 percent r..
Suppose that the inverse demand for shale gas is given by p = 400 - 2q. The private marginal cost of producing shale gas is PMC = 100 + q. Suppose that in order to produce shale gas at the PMC given above, the oil and gas (O&G) companies (that pro..
Consider a simultaneous move quantity-setting game with two firms facing a demand curve p = 100 - q. Both firms have marginal cost of 20. Suppose one firm maximizes profit and the other maximizes revenue, but both take into account the other firm'..
Julia can fix a meal in 1 hour, and her opportunity cost of one hour is $50. Jacque can fix the same kind of meal in 2 hours, and his opportunity cost of one hour is $20. Will both Julia and Jacque be better off if she pays him $45 per meal to fix..
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