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Suppose that the economy starts at equilibrium and the mpc = 0.75. What would be the effect of a $300 increase in government spending once all the rounds of the multiplier process are complete?
To calculate the change in equilibrium output, the following expression could be used:Y = G (1/ 1-mpc)  this should be the Delta symbolSuppose that the economy starts at equilibrium and the mpc = 0.8. What would be the effect of a 300 increase in taxes once all the rounds of the multiplier process are complete?
"When taxes and government spending both increase by the same amount (or decrease by the same amount), the size of the deficit or surplus the government had before remains the same."What would you say about the multiplier?
Assume the economy is in a recession. Describe an adjustment process using AD AS analysis that will ensure that the economy will return to full employment. How can the government speed up this process?
Utilizing the economists model of individual choice comparing the marginal costs and marginal benefits of a choice.
Illustrate what is the present value of a contract that promises to make year end payments to you of $100 for the next 20 years if the interest rate is 5%.
Describe how a change in investment can have big impact on GDP causing a nationwide slump. Recall that investment is "small" relative to the entire economy.
Illustrate what policies would you implement to help the economy reach full employment.
Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..
The demand and supply curves for gasoline (in billions per year) are given below. Using the equations, find the initial equilibrium price and the quantity in the market for gasoline.
Describe and graph (using AD/AS framework) an example in today's news of fine tuning economy. Assume the MPC in an economy is 0.8, the APC is 0.8 and disposable income is $9 billion. If disposable income increases to $14 billion, what is the new le..
The Wozniak Corporation, a maker of aircraft engines, determines that in 2008 the demand curve for its product is as follows-What is the price elasticity of demand if price equals $500?
Let's say there's a world-wide influenza pandemic. Assume that the marginal cost (supply) of influenza vaccinations is constant at $40. Assume that everyone in society has health insurance that pays 80% of all medical services
Explain why do some regions promote unrestricted trade within their region but restrict trade that crosses the region's boundaries.
Marketing research shows that the price elasticity demand coefficient for the widgets
Explain why is strong home currency mitigate the growth of inflation rate locally
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