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Assume a Keynesian macro model: AE = C + I + G + NX C = 100 + 0.75Yd I = 300 G = 285 NT = 100 X = 40 M = 50
a) Find the equilibrium level of income.
b) Calculate the tax multiplier and find the effect on equilibrium level of income of a change in the level of net taxes from 100 to 50 by using tax multiplier.
c) If government wants to reach a 100 $ higher aggregate output level with no change in the budget deficit, how much should the government spending and/or net taxes increase or decrease?
d) What will be the effect of an expansionary fiscal policy of a change in the government spending by 25? Find by using multiplier. Find the new equilibrium level of output.
Plot the relationship between leisure and GPA on a graph. (Hint: Assume that the general shape is that of an inverted parabola.) Michelle has standard.
Suppose 20 foreign workers with exactly the same skills and same education level asdomestic workers immigrate to country Omega and try to find a job. Holding everything else constant, what will happen to capital productivity in Omega
Analyze the economics of New Orleans in light of the above parameters and develop your own Cost-Benefit Analysis (CBA) for rebuilding.
Write the system in matrix form and find the equilibrium prices and quantities.
Using a prisoner's dilemma game such as the "wedding game." explain how a positional arms race can occur. In your answer be sure to explain positional arms races, the nature of the wedding game, etc.
Suppose you won $15 on a lotto ticket at the local 7-Eleven and decided to spend all the winnings on candy bars and bags of peanuts. The price of candy bars is $.75 and the price of peanuts is $1.50.
Consider an economy where, consumer’s utility function is given as U(C,L)=C-(1/2)L2 . Where C is consumption and L is labor. The production technology is Y=(1.6)L-(1/2)L2. The turnover cost per labor is (0.36)/(w/p)
Select an industry or firm and state what is the market structure (pure competition, or monopoly, or monopolistic, or oligopoly).Define the characteristics of the industry or firm to support your selection of a market structure. Explain or illustrate..
When the firm increases labor input, which of the following is correct about the relationship between marginal product of labor and marginal cost? Answer If marginal product is increasing, marginal cost will be decreasing. Marginal cost is equal t..
Explain how would you be able to measure that variable? What do you think is a better variable to measure worker productivity during work?
Describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that the same crate of wine now costs $82.
A firm must decide whether to provide their salespeople with firm-owned cars or to pay a mileage allowance for their own cars. New cars would cost about $28,000
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