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An economy's AD curve is described by the following equation:
Y = 13,400 - 20,000formula25.mml,
where Y is output and formula25.mml is inflation (measured as a decimal). Initially, the inflation rate is 0.04 (i.e., 4 percent) and potential output equals 12,000
a)Find inflation and output in short-run equilibrium.
b) Find inflation and output in long-run equilibrium.
The best estimates for the first costs, yearly costs (O&M) and yearly benefits (Energy savings) are given below. However, uncertainty exists about the disposal cost and energy savings. The MARR is 5%; taxes and inflation can be ignored.
There are two workers in the economy, "A" and "B"; "A" can go to school and "B" cannot. Education increases future income according to the following function: I(e)= 50(e)/(1+e) Total cost per year of schooling equals 2, and thus: mc(e)=2.
Based on the information for the U.S. for the period 1970 to 1983, the following regression results were obtained, GNPt = -787.4723 + 8.0863M1t r2 = 0.9912
Consider the following balance sheet of Princeton Bank: Assets- Reserves 30, Securities 140, Loans 280, total assets 450. Liabilities+ Capital- Transactions deposits 300, Nontransactions deposits 140, Capital 10, total liabilities + capital 450.
New actuator element technology enables engineers to simulate complex computer-controlled movements in any direction. If the technology results in cost savings in the design of amusement park rides, what is the future worth in year 5 of savings.
Two policy programs are proposed: (1) eliminate the deficit by cutting government spending and (2) eliminate the deficit but raising taxes. Which program has the least damaging effect on GDP
Assume that the demand curve is given by the following: p=20 and the supply curve is given by Q=p-5. If the government puts in place a tax of 5 that must be paid by the seller the total amount of tax revenue raised is equal to what
Suppose the production function of the economy takes only capital as input and follows the formula: Y = zKWith saving rate s, deprectiation rate d and population growth rate n, write down an equation that determines capital stock next period
John runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop, and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth)
Merry Inc wants to replace a 9-year -old machine with a new machine that is more efficient. The old machine cost $70,000 when new and has a current book value of $15,000. Merry can sell the machine to a foreign buyer.
Corporate orders generate an avg. contribution of $100 per coat. Firm K has just recieved and unexpected order for up to 300 coats but has unused capacity to produce only 200. One manager recomends delivering 200 coats.
Below are some data from the land of milk and honey. Year Price of Milk Quantity of Milk Price of Honey Quantity of Honey 2010 $1 100 quarts $2 50 quarts 2011 $1 200 $2 100 2012 $2 200 $4 100 Compute nominal GDP, real GDP, and the GDP deflator f..
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