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Assume that the Keynesian multiplier in the Jamaican economy is 2, the equilibrium GDP is $5,400 million, and the tax rate (t) = 20%. Consumption (C), taxation (T) and disposable income (Yd) are given as follows: C = 800 + 0.8Yd, T = tY, Yd = Y - T
i) Assume government expenditure (G) = $820 million, calculate the equilibrium consumption in the economy.
ii. Suppose the government would like the GDP to grow by 5% in the next year, determine the required increase in government expenditure.
Shirley loves peanut butter and jelly sandwiches. However she must have the proportions of peanut butter to jelly exactly right and she always uses 3 tablespoons of peanut butter and 2 tablespoons of jelly when making her sandwiches.
Compute the population size that is compatible with the maximum sustainable yield. What would be the size of the annual catch if the population were to be sustained at this level?
EBF 484-ENERGY ECONOMICS PROBLEM SET. If the crude oil producer acts as price-taking firm, what is the change in consumer surplus as a result of price ceiling
Antilock brakes, airbags, and seatbelts increased the number of accidents while simultaneously decreasing the number of fatal accidents. Why does this happen?
Illustrate what is the relationship between the variable that you selected and the economy. What trends do you see in the data sets.
The Los Angeles retail market for unleaded gasoline is fiercely value competitive. Suppose situation faced by a typical gasoline retailer when the local market price for unleaded gasoline is $2.50
A seller uses a second-price sealed-bid auction to sell a painting to two bidders. The seller claims that the painting was drawn by a famous painter, say Monet. Both bidders are not sure about the seller's claim
Expected changes in the U.S. real exchange rate vis-a-vis Switzerland and expected rates of inflation in the U.S. and Switzerland.
1. suppose that a nations production possibilities are as follows possibilitiesfood millions of tons per yeartractors
Elucidate social media have a place in the business nation. How would you use social media to promote your business.
Why do you think governments in developed nations continue to lavish extensive support on agricultural producers, even though those producers constitute a very small segment of the population?
Does globalization have any implications for environmental policy? Justify and support your position.
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