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Assume the United States has the following consumption information:
GDP = Income Consumption
$4000 $4500
$6000 $6000
$8000 $7500
$10000 $9000
$12000 $10500
Also the economy has G = $1100, I = $404, and XN = $15. Unemployment in the economy is currently 5.2% and inflation is 0.1%
a. What is the MPC in this economy?
b. What is the multiplier in this economy?
c. What is the equilibrium level of GDP in this economy?
d. What is the equilibrium level of Income in this economy?
Suppose that a security costs $3,000 today and pays off some amount b in one year. Suppose that b is uncertain according to the following table of probabilities: b: $3,000 $3,300 $
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Consider the following: An economy is found to have output, y = 20000 Also assume that the government runs a deficit where tax revenue T= 4000 and government expenditures G=5000
Long-Run Labor Demand: Graph an increase in the wage when only labor is a 'normal' input to production. Graph an increase in the wage when both inputs are 'normal'
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what is credit multiplier?
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how to work out National Income?
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on
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