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Suppose an economy is experiencing a recessionary gap equal to $10 billion. a) If the government does nothing then use the AD/AS model to explain how the self-correcting mechanism will eliminate the gap. b) If the marginal propensity to consume is .8 and the tax rate is .2 then use the AD/AS model and the multiplier to illustrate the impact of a $4 billion increase in government spending on real GDP and the price level. Determine whether or not the increase in spending will eliminate the recessionary gap. c) Repeat part (b) except now suppose the government imposes a $4 billion cut to fixed taxes but leaves the tax rates the same at .20.
Suppose a government moves to reduce a budget deficit. Using the model developed in class: a) Graphically illustrate the impact of reducing the government’s budget deficit by increasing (lumpsum) taxes on household income. Be sure to label: i. the ax..
What is the percent of clear lumber from each of the three suppliers? What is the percent of lumber from each of the three suppliers
Look into the future. Consider trends in society, technology, economics, environmentalism, and politics that can influence the Virgin Group. Be sure to look beyond Virgin's current market, product, and geographic boundaries. Identify two or three fac..
If the expected future exchange rate rises, the currency's
1. What determines the level of market power a monopolist can exercise?
Firm 1 and Firm 2 compete in an industry and must decide whether to introduce an upgrade to their existing products. The nature of the strategic interaction is described by the game box, where (Y) means “upgrade” and (N) means “do not upgrade”. Draw ..
In order to determine the Chi-Square Critical for the Chi-Square. You need to find out the Degrees of Freedom (DF)
Explain verbally the theoretical land price gradient between commercial, residential, and agricultural uses of lands. Do we observe this theoretical relationship in Colorado’s Front Range? Why or why not? Discuss at least three of the policy options ..
Draw a simple circular flow diagram showing the flow of dollars, goods & services between households & firms. Explain why the dollar flow out of households and into businesses must be equal. Is the same true in the expanded circular flow? Explain. Su..
Discuss how the wage rate and level of employment will be determined if
q1. the wall street journal once stated regarding fannie mae and freddie mac that their profit is privatized but their
You were recently hired to replace the manager of the Roller Division at a major conveyor-manufacturing firm, despite the manager's strong external sales record
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