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Assume that government purchases decrease by $10 billion, with other factors held constant, including the price level. Calculate the change in the level of real GDP demand or each the following values of the MPC. Then calculate the change if the government, instead of reducing its purchase, increased autonomous next taxes by $10 billion.
Explain why an economy's income must equal its expenditure and why is it desirable for a country to have a large GDP? Give an example of something that would raise GDP and yet be undesirable.
Describe each of the following economic functions of money and provide an example of each: (1) medium of exchange; (2) standard of value; and (3) store of value.
q.you are given the following information about an economy c 0.80di i 200 g 500 x-im -30 t 14y.1. find equilibrium
What is the equilibrium level of income? If government purchases increase to 420, what is the new equilibrium income? What is the multiplier for government purchases?
The welfare system provides income for people who are very poor, with low incomes and few assets. If a recipient of welfare payments decides to work and earn some money, the amount he or she receives in welfare payments is reduced. a. How does the ex..
Marco borrowed $ 24,491 from a bank at an interest rate of 9 % compounded monthly to. The loan will be repaid in equal monthly instalments over 3 years. What is the remaining lump sum after 28 instalments?
A bicycle component manufacturer produces hubs for bike wheels. Two processes are possible for manufacturing, and parameters of each process are as follows
What is now the effect on gold consumption and mining of an increased use of gold as money.
Which of the following statements about financial institutions is correct? Janet saves $100 in a bank account that pays 4% interest per year. How much is Janet's account worth at the end of one year? What is the value of Janet's $100 deposit five yea..
e marginal cost of making a copy is $.50 (50 cents). The average customer makes 4 copies at a time. Illustrate what pricing strategy will maximize your profits.
Write down a formula that describes the marginal product of labor in the short run as a function of the amount of labor used.
What will happen to the equilibrium price and quantity of hairy crabs if: Use a diagram to show the tax burden on buyers and sellers and briefly explain your answer. (ii) use a separate diagram to indicate the changes in consumer surplus and producer..
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