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Unlike households, governments are often able to sus-tain large debts. For example, in 2013, the U.S. govern-ment's total debt reached $17.3 trillion, approximatelyequal to 101.6% of GDP. At the time, according to the U.S. Treasury, the average interest rate paid by the government on its debt was 2.0%. However, running budget deficits becomes hard when very large debts areoutstanding.
a. Calculate the dollar cost of the annual interest on the government's total debt assuming the interest rate and debt figures cited above.
b. If the government operates on a balanced budget before interest payments are taken into account, at what rate must GDP grow in order for the debt-GDP ratio to remain unchanged?
The "graying of America" will substantially increase the fraction of the population that is retired in the decades to come. To illustrate the implications for U.S. living standards, suppose that over the 44 years following 2006 the share of the po..
Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken and the price of each bucket of chicken was $10. In 2005 the price per bucket of chicken was $20 and 22,000 buckets were produced.
Consider a competitive market served by many domestic and foreign firms. The domestic demand for thse firms' product is \(Q^{4} = 500 -1.5P\) The supply function of the domestic furms is \(Q^{SD} = 50 + 0.5P\) while that of foreign firms is \(Q^{S..
Is the firm maximizing its economic profit? How do you know? What should the firm do to maximize profit? Should it increase or decrease output?
In Smalltown, the price of Twinkies fell from $0.80 to $0.70. As a result the quantity demanded of HoHo's decreased from 120 to 100. What would be the appropriate elasticity to compute
There is a big gap in the earnings of married women and married men, even if individuals of both sex have the same level of education.
a. Compute the IRR of each investment b. At MARR=15% determine the acceptability of each project c. If A and B are mutually exclusive projects, which project would you select based on the rate of return of incremental investment
In a hypothetical economy, the monetary aggregate M1 equals 120,000 pesos, and M2 equals 320,000 pesos. The following information about this economy is also available: Money market deposit accounts 80,000 Amount of currency held outside of banks.
In the United States, the capital share of GDP is 30%, output growth is 3%, the depreciation rate is 4% and the capital output ratio (K/Y) is 2.5. Assume the US economy is described by a Cobb-Douglas production function.
The United States was devastated through the Crash of 1929 and the following depression. What policies were enacted during the New Deal contain finance speculation and turbulence?
Where Qd denotes quantity demanded, P denotes price, Y denotes personal income (in thousands of dollars), and A denotes advertising expenditures in hundreds of dollars. ABC's marginal cost function is given as MC = 21 + 4Q Assume Y equals 3
Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity. What is the equilibrium price and the equilibrium quantity
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