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Suppose that the economy of Wonderland is described by the following equations: Planned consumption: C = 200 + 0.8Yd Disposable income: Yd = Y - T Income taxes: T = 200 Planned gov (ernment expenditure: G = 100 Planned investment: I = 200 Planned export: X = 200 Planned import: M = 0.2Y, All variables are measured in real value. a. What is the equilibrium output? Please show your calculation. b. Suppose that the government on Wonderland succeeds in reducing income taxes from 200 to 160. What are new equilibrium output and the tax multiplier? c. List two arguments that are likely to be used in support of such a tax cut in part (b). Briefly explain your answer. d. List two arguments that might be used to oppose such a tax cut in part (b). Briefly explain your answer.
A random sample of size 14 was taken from a population with a population mean 27 and a population standard deviation 8.
Question 1: Why do some economist favor raising all tax revenue through labor and or consumption taxes?
What are the causes for poverty? What are the effects of poverty for women, youth, urban, rural and ngo?
Own price elasticity of demand for clothes is -2 and cross price elasticity of demand between clothes and shoes is -0.5. if the store increases the price of clothes by 5%, what will be the change in revenue?
A new tax law is passed that increases both corporate and personal tax rates. What effect will this likely have on the capital structure decision of the nation'
The bookstore competes with a number of similar stores and therefore operates in a monopolistically competitive marketplace. Calculate the store's total revenue , marginal revenue, average total cost, and marginal cost at each total product (TP)level..
What are two reasons why a firm operates at a loss? Provide a example.
You owe $1000 on your credit card. The APR is 24%, compounded monthly. The credit card company indicates that your minimum payment is $22.44. If you make only the minimum mouthy payment, how long will it take for you to repay the $1000 balance (assum..
Suppose the demand for gasoline is QD = 75 – 25PD and supply is QS = 30 + 20PS, where prices are expressed in dollars per gallon. How does a $0.40 per gallon tax affect the equilibrium price and quantity of gasoline (show both the pre-tax and post ta..
Explain why "globalization" may well be related to "long-term household wealth" and the domestic "velocity of money" in the U.S. macro-economy.
The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, “This is a golden opportunity.” The mine will cost $3,600,000 to open and will have an economic life of 11 years. What is the IRR fo..
Create a spreadsheet illustrating the determination of market equilibrium.
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