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Evaluate the fundamental arguments between Keynesians and Monetarists concerning the level of government involvement in our economy to minimize the impact and stabilize the different stages of the business cycle.
Any change in the economy's total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as themultiplier effect. Explain how the multiplier effect works.
You are told that 90 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $8 billion.
Also assume that the countries are otherwise the same: they have the same saving rate, the same depreciation rate, the same population growth rate, and the same technological progress. Both countries are described by the Solow model and are in thei..
Dinkel Manufacturing Company accumulates the following information relative to jobs started and finished during the month of June 2008.
the u.s. trade deficit is currently running over 50 billion per month. explain why this is bad for the country in the
Suppose the price of food increases from Px1to Px2. On a clearly labelled graph, illustrate the income and substitution effects of the price change on the consumption of food.
Public Affairs 854 - Problem Set 2. Graph the IS and LM curves on a single graph. Show the vertical intercepts, the slopes, and the intersection. Solve for equilibrium income. Show your work
From each pair of goods, pick the good for which demand will most likely be more elastic:
evaluate the following statement i am a manager in a governmental agency. i have no control over compensation policy.
"Emerging economies, such as china, pose a threat to the comparative advantage of the U.S". How can such a statement be evaluated using the insights learned from the standard trade model? Provide full verbal and graphical explanation.
Upon what specific assumptions is this production possibilities curve based?
The government will tax good for many reasons, resulting in a fall in equilibrium quality while the prices increase. Could someone explain how price controls and taxes have influenced your purchasing choices.
Indicate whether each of the following would be considered an automatic stabilizer (last part of lecture and pg. 544):
Now assume the government increases spending, reducing the country's savings rate based upon this change. What is the effect on the government spending on the economy.
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