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How might an accurate value for the multiplier aid a government in setting fiscal policy?
Any given multiplier will enhance national income at a given rate times enhance in government spending. Knowing that, for instance, the value of k is 2, and that 10,000 jobs are expected to be created for every additional billion in national income, then additional government spending of 0.5billion will make the necessary jobs.
Suppose that in an economy 100 worker-hours produce 160 units of output in year 1. In years 2 and 3 worker hours are 120 and 130 and units of output are 216 and 260, respectively.
Under capitalism, most production is undertaken by private companies (of various forms), with the goal of generating a profit to the company's owners. Profit is obtained when compa
Define the returns to scale in production technology. Returns to scale in production technology: Assume that we are using some vector of inputs x to generate some output y a
how does pp curve solve the problem of how to produce, what yo produce, and when to produce?
why is normal rate of return on capital included in the total cost and what implication does it have
RATIONAL EXPECTATIONS AND ECONOMIC THEORY : We assumed above that the role of economic theory is not to provide quantitative predictions about the future. Suppose we assume ins
I''m having trouble with this problem.....I must have missed the class that it was discussed in. I''m more confused with the interpreting the equations with all the Labor demand/La
Examine the role of foreign direct investment (FDI) for developing countries Explanation of foreign direct investment as the direct ownership of capital in another country by a
if a commodity has limited demand , should economist say that we still have a scarcity ?
Differentiate the definition of economics as given by Prof. Marshall and Prof.Robbins. Illustrate the concept of production possibility curve .How PPC is helpful to solve econom
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