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2. (45 points total - 5 points each part except part e) A closed economy has full employment level of output (Y) of 2,000. Government purchases, G, are 200, taxes (T) are 400. Desired consumption (Cd) and investment (Id) are: Cd = 550 + 0.5(Y -T) - 600r Id = 600 - 400r We now have a change in the desired investment function - it is now: Id = 570 - 400r c) Name four reasons why the desired investment function would change the way it did. d) Resolve for the goods market clearing interest rate and the associated levels of desired savings and investment.
One of the major problems facing Cisco Systems and other direct sellers is
Why is the Cournot equilibrium stable? (i.e., Why don"t firms have any incentive to change their output levels once in equilibrium?) Even if they can"t collude, why don"t firms set their outputs at the joint profit maximizing levels (i.e., the levels..
In theory, we know that a monopolist basis its price directly off of the demand curve, but in practice a monopolist cannot 'see' the demand curve. Explain how a monopolist might set prices, even without having explicit knowledge of the shape of th..
According to the law of comparative advantage, what should be the distinguishing characteristics of the goods a nation produces?
Suppose you have a limited money income and you are purchasing products A and B whose prices happen to be the same. To maximize your utility you should purchase A and B in shuch amounts that?
ention each account affected and the appropriate amount. Also, assuming your bank lends out money to the extent allowed by law, how much will the money supply grow beyond the initial $100,000 deposit?
Describe why government regulation is required, citing the major reasons for government involvement in a market economy.
Consider the utility function \(U(x,y) = y\sqrt{x}\) a)Does the consumer believe that more is better for each good? b)Do the consumer's preferences exhibit a diminishing marginal utility of x? Is the marginal utility of y diminishing?
explain how rent seeking can lead to a drop in production of goods and services. what role might the underground economy play in lessing the drop in productie activities.
Most of us participate in the economy every day. As households, we can provide labor to companies or government in the input market and we are also consumers of goods and services in product market.
Julia must select between two different designs for preventing closure, which will be in use indefinitely. Model 1st has a life of 3-years and cost of $8000, and maintenance of $1000 every year.
Suppose it is known that the distribution of earnings for government workers is relatively less disperse than that for workers in the private sector. Use the Roy model to explain which type of workers - skilled or unskilled
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