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1. Suppose that 70% of the population acts according to the traditional Keynesian consumption theory due to liquidity constraints. The remaining 30% of the population follows the permanent income theory.
A. If the MPC in Keynes's consumption theory is 0.8, and the change of disposable income is 10 million yuan (assuming that the change is completely derived from temporary income), what is the change of consumption?
B. If 70% of the population acts on the life cycle theory and 30% acts on the Keynesian consumption theory, how much will consumption change?
C. If 100% of the population acts according to the life cycle theory? what is the change of consumption?
But when interest rates rise, which people's consumption will rise and which people's will fall? How will the consumption of the whole society change? Is it wrong to ignore the impact of interest rate on consumption in IS-LM model?
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The Euro has had led to positive growth in income and trade to non-EU countries. Based on this statement, how did the other countries benefit from the introduction of the Euro?
The Defect Tracking System (DTS) is a web based application that can be accessed throughout the organisation. There are features like email notifications, user maintenance, user access control, report generators etc in this system.
The exchange rate is currently $ 2.00 per pound. Anincrease in the price level in the US relative to the price levelin England will:a. increase the exchange rate to $2.50b. not affect the exchange ratec. increase the exchange rate to $3.00d. reduce t..
Suppose the government institutes a new sales tax on shoes, which are produced by a competitive constant-cost industry. a. Does the price of shoes change by more in the short run or in the long run b. Does the industry-wide quantity change by more in..
Find the firm's optimal quantity, price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC. b) Suppose instead that the firm can sell any and all of its output at ..
Explain the difference between saving and investment as defined by a macro economist. Which of the following situations represent investment? Saving? Explain.
congress is considering a tax credit program for those who purchase energy-efficient appliances. proponents of the
1. Discuss what the job of "carbon trader" is. 2. Discuss what the job of an "environmental health and safety" (EH&S) specialist is.
Labor is relatively abundant in Mexico compared with arable land. Which liberalized trade between the U.S., Canada, and Mexico.
What is the core issue in this interest group politics Which groups are pro limits Which groups would you imagine are lobbying against Are these peak associations or public interest groups What does Goldsmith mean by industry capture
the branch manager given the objective to maximize revenues by pricing a new stereo system composed of a reciever, CD player, and speakers. Your economists have estimated that two diffeernt groups will purchase these products.
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