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Assume that the consumption schedule for a private open economy is such that consumption C = 20 + 0.80Y. Assume further that planned investment Ig and net exports Xn are independent of the level of real GDP and constant at Ig = 40, G =20 and Xn = 10. Recall also that, in equilibrium, the real output produced (Y) is equal to aggregate expenditures: Y = C + Ig + G+ Xn. a. Calculate the equilibrium level of income or real GDP for this economy. b. What happens to equilibrium Y if G changes to 40? What does this outcome reveal about the size of the multiplier? What does this outcome reveal about the impact of fiscal policy?
If the government decides to spend an extra $5 billion on fighter jets that they would otherwise have spent on road construction, and the MPC = 0.75, what is the effect on AD?
Find aggregate output (Y) and the rate of interest (i) in this economy. Is the government's budget balanced, in surplus or deficit? If full-employment output is 830 and the Fed increases the money supply from 150 to 160, will economy achieve equilibr..
Illustrate what major legislative actions has congress taken As 1993 to reduce size of Federal deficit. Why process is politically painful to Congress.
If a firm is losses money, it might be enhanced to stay in business in the short run. Is this statement ever true.
Explain how might spending of Asians on American goods be affected. What about Americans who have invested in these countries.
A 1000 gallon metal tank cost $150,000 when it was fabricated 15 years ago. What would a 5000 gallon tank cost today if the power sizing eponent is .6 and the construction cost index for such equipment has increased from 200 to 500 over the last 15 y..
33 % of monetary base is held outside ?nancial institutions. Where do you think this portion of the monetary base is held exactly? Under what conditions might it return to the banking system?
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time? 1. Write your indiv..
Assume the value of a statistical life is $85,000,000 and that workers in more dangerous jobs are exposed to an additional 1/105 risk of death. How much more should the workers in the more dangerous jobs be paid (compared to the other workers)?
You are the manager of a 24-hour copy shop that is closed on Sundays. You lease a building for $2,000 per month and hire three employees who each work eight-hour shifts at a wage of $10.00 per hour (each works a total of 40 hours per week). Are there..
Demand is measured on the vertical axis and supply on the horizontal axis. The law of demand states that there is a direct relationship between supply and demand. Excess demand in the market will cause the price of a product to decline. Antiques woul..
Explain how consumer surplus changes when a monopoly price discriminates. Explain how consumer surplus, economic profit, and output change when a monopoly perfectly discriminates.
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