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Assume the following economy: Autonomous Consumption = £10,000; Marginal Propensity to Consume = 0.8; Business Investment = £30,000
A. Find the equilibrium size of income Y and the size of the Multiplier of Business Investment (hint: to find the Multiplier increase investment by 10,000) (5%)
B. Assume now that a government sector is introduced, while business investment is still £30,000. Government spending injects £50,000 into the economy. However, in order to finance its expenditure the government levies an income tax at a rate of 25%.
Which group of policies aims at extracting all consumer surplus?
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Social Welfare: A social planner has decided to allocate income between two people so as to maximize the sum of utilities of persons 1 and 2 (W = U1 + U2). Determine the marginal rate of transformation of person 1’s income into person’s 2’s income, i..
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How does one assess and determine the performance of an economy (any economy)? And more specifically, what criteria are commonly used to do so?
787b stimulus bill approvedwashington-less than one month after president obama took office congress last night passed
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