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Suppose that every additional five percentage points in the investment rate (I/GDP) boost economic growth by one percentage point. Assume also that all investment must be financed with consumer saving. The economy is now assumed to be fully employed at
GDP $6 trillionConsumption 5 trillionSaving 1 trillionInvestment 1 trillionIf the goal is to raise the growth rate by 1 percent,
a. By how much must investment increase?
b. By how much must consumption decline for this to occur?
a Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run. b In the short run, if output growth is just 2 percent for two years and the equation determining the real interest rate changes to r = 4.5 - ..
Determine the quantity demanded,the quantity supplied, and the magnitude of the shortage if a pride ceiling of $30 is imposed in this market. Also, determine the full economic price paid by consumers. What are the equilibrium quantity and price in ..
The mayor considers engaging in direct quantity regulation (also called "command- and-control") and declares that each firm must engage in 42.5 units of pollution abate- ment. If the plants are controlled by the same firm, would it be socially optima..
A machine has an initial cost of $500,000, and was estimated to have a salvage value of $30,000 at the end of its 7 years useful life. The machine is expected to generate annual net savings of $125,000. A loan of $200,000 at 7% interest
Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of shampoo, and 3 jars of peanut butter. In year 2, the output mix changes to 5 quarts of ice cream, 2 bottles of shampoo, and 2 jars of peanut butter.
Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium $/£ exchange rate and its expected future level? Suppose the expected future $/£ exchange ..
3-defective electric toothbrushes were accidentally shipped to a drug store called Clean brush items along with seventeen non-defective ones.
People hold $400 million of bank deposits but no currency. Banks have made $380 million dollars of loans and only hold enough reserves to satisfy reserve requirements. Because of uncertainty, banks choose to hold $10 million more in reserves.
Test the null hypothesis of independence of the two qualitative variables A (political affiliation: A1 = Republican; A2 = Democrat; A3 = Independent) and B (education: B1 = high school; B2 = college; B3 = graduate school)
A manufacturer of off-road vehicles is considering the purchase of dual -axis inclinometers for instalation in a new line of tractors. The distributor of the inclinometers is temporarily overstocked and is offering them at a 40% discount from the ..
A company is considering producing a new children's bar soap. A market research firm has told the company that if they perform a survey the successful production of a favorable market occurs 65 percent of the time. That is, P(positive survey favor..
A competitive refining industry produces one unit of waste for each unit of refined product. The industry disposes of the waste by releasing it into the atmosphere. The inverse demand curve for the refined product (which is also the marginal benef..
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