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Suppose that the initial output equilibrium was 200 units. Assume that the consumption function is: C=25+0.8YD
Suppose there is now a decline in inestment of 8 units.
a) What will be the new equilibrium level of income? SHOW ALL STEPS.
b) What increase in government spending would be required to restore an income to the intital level of 200? SHOW ALL STEPS.
c) Alternatively, what reduction in tax collections would be sufficient to restore an income level of 200? SHOW ALL STEPS.
For each of the following, state whether it is considered money in the United States. Explain why or why not. The available credit you have on your Master Card. Federal Reserve notes in your wallet. Reserves held by banks at the Federal Reserve Bank.
Which of the following is true about perfect competition?
Weisbro and Sons purchase their inventory one quarter prior to the quarter of sale. The purchase price is 60 percent of the sales price. The accounts payable period is 60 days. The accounts payable balance at the beginning of quarter one is $27,000. ..
Assume the hospital is a monopolist with a demand function given by p = 404−2x, where p is the price of hospital care and x is the quantity of hospital care. Assume that the hospital’s cost function is given by C = 300+4x+8x 2 , where C is total cost..
What is the capitalized equivalent amount worth, at 8% annual interest compounded semi annually, for a present initial cost investment of $50,000, a series of semi annual positive disbursement of $5,000 that extent to infinity, and in 12 years there ..
Panel B shows how the demand for X shifts when the price of related good Y increases from $60 to $68. Use the information in Panel B to calculate the cross-price elasticity. Are goods X and Y substitutes or complements?
Explain how perfect price discrimination works and how it increases profits for a monopoly as compared to a single-price monopoly. Draw the diagram as part of your answer.
What are transnational corporations (TNCs, or multinational corporations, MNCs) and how are they different from other business firms? Why have the MNCs become more important in international political economy during the past three decades?
The demand for borrowed funds is, The income of Lebron James, for example, is determined by, The income to someone such as Lebron James is
Two fi?rms compete in a duopoly market. Each fi?rm chooses a quantity and the price in the market is determined from the following inverse demand function.
The government imposes an excise tax on the sale of all toothbrushes. Before the tax, 2 million toothbrushes were sold every year at a price of $1.50. After the tax is imposed, 2 million toothbrushes are sold every year; consumers pay $2 per toothbru..
Mr. Smith has saved $1800 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7500 each year for a period of 5 years. In the sixth and seventh years, he only withdrew $5000 per year. In the eighth year, he decided to wit..
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