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Consider the following economy
C=1000+0.6Yd
G=220
T=200
I=500
A. Find the government budget deficit or surplus
B. Find the Z line
C. Calculate the Equilibrium level (Y)
D. Calculate the equilibrium level of disposable Income (Yd)
E. Calculate the level of Consumption (C) in equilibrium
F. Show the Z line and the Equilibrium level of Y on your graph
The lunch you buy in your school cafeteria is classified as: a) a consumer durable. b) a consumer nondurable. c) a service. d)either a consumer nondurable or a service because it fits into both categories.
Consider a firm for which production depends on two normal inputs, labor and capital, that are not perfect complements. Initially the firm faces market prices of w = 10 and r = 8, for labor and capital. These prices then shift to
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