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Explain the relationship among household disposable income, consumption, and savings. What is Marginal Propensity to Consume (MPC) and what does an MPC of 0.9 tell us about consumption and saving? Use an example to explain MPC.
Explain the following statement: "Changes in disposable income lead to movements along the consumption function while changes in wealth lead to a shift of the consumption function." Use examples to illustrate your response.
What impact would you expect each of the following events to have on business cycles? Label each as a demand-side or supply-side shock.
What economic policy changes might you expect in response to each of these events?
Explain the following statement: Any deviation from planned output or planned expenditures (Consumption + Investment) will throw the economy into disequilibrium. To illustrate your explanation, provide an example of how actual output might deviate from planned output and how actual expenditures might deviate from planned expenditures. List any economic reactions might you expect in the examples you provide.
Much of the demand for U.S. agricultural output has come from other countries U.S. farmers are concerned about this drop in export demand.
why might a parent company like McDonald s or Hilton choose to franchise its local outlets rather than own them and staff them with employees In many smaller cities all McDonald's outlets are owned by the same franchisee.
Answer the next three questions on the basis of the following production possibilies data for Francia and Galacia. All data are in tons.
Illustrate what did the USA do like other countries as well after the first oil price shock.
Describe the optimal method for procuring a modest number of standardized inputs that are sold by many firms in the marketplace.
Draw a set of indifference curves for Jones, and second set for Smith, with alcoholic drinks on vertical axis and non-alcoholic on the horizontal axis.
The demand schedule (or demand function or curve) for a good shows the total quantities (Q) that buyers are willing and able to buy at various prices (P) in some period of time. For example, here is a demand function illustrating the very special ..
As we know about the own-price elasticity for good x.
The discussion centers on how person or consumers would react during a period when a country's GDP growth rates.
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
Sam arrived on campus at the beginning of the academic year with $480 to spend on textbooks and CDs. The price of a textbook is uniformly $80 and the price of a CD is always $20. Her parents made a deal with her - after Sam spends $240 of her own ..
Suppose that any money lent by a bank is always deposited in a checkable deposit and that the reserve ratio is 10%. The Fed purchases $100 million in Treasury bills.
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