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Q. Consumption function in the AS-AD model?
Consumption. Suppose that P increases by say 10% whereas real GDP (Y) is constant. Nominal GDP and nominal national will now have increased by 10%. If your income increases by 10% and prices increase by 10%, it's reasonable to assume that your consumption (in nominal terms) will increase by 10% (nothing has changed in real terms). This means that demand for real consumption C is unchanged.
An economy has the following parameter values: s ?=.3,d ?=.1,A ?=1,andL ?=100.2 The economy begins at steady state but at some point is attacked by Godzilla, destroying 70% of the
according to this example,how much value do each book contribute to the GDP? a) a forester chop down 100 trees and sell them @$100 to the paper and pulp factotry
Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b) There are 13 possible pairs possible (Aces throu
Properties of indifference curve: Property I: Higher indifference curve gives higher utility. Explanation: Since all goods are non-satiated, larger consumpti
Four aspects are interesting when we look at inflation data for Sweden During 1800s, when Sweden was primarily an agricultural society, deflation where almost as common as
The city of Johnstown decides to build a new stadium to attract a basketball team from the city of Rosendale. One economic advisor suggests that the stadium should be fi
Examine two (2) tenets of the mercantilist school. Determine whether you agree or disagree with these principles. Provide at least two (2) reasons to support your answer
Supply of labor, L S (W/P), depends positively on real wages in classical model. It isn't always clear which individuals are included in the labor supply. Labor supply may consist
when domestic currency becomes more valuable in terms of foreign currency, the domestic currency is said to have
conditions for steady state in solow model.in what respects is golden rule different from steady state?
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