Reference no: EM132813442
GIVEN: Ca = 5,000 mps = 0.1 I = 6,000 G = 4,000
Ta = 1,000 mpt = 0.2 TR = 1,500
REQUIRED: Show the solutions.
1. Formulate the consumption function.
2. Formulate the savings function.
3. Derive the equilibrium income for an economy consisting of HHs only and prove that Y = C & S = 0 using any approach of your choice.
4. Derive the equilibrium income for an economy consisting of HHs & BFs and prove that Y = C + I & S = I using any approach of your choice.
5. Derive the equilibrium income for an economy consisting of HH, BF & G does not impose taxes and prove that Y = C + I + G & S = I + G using any approach of your choice.
6. Derive the equilibrium income for an economy consisting of HH, BF & G imposes fixed taxes and prove that Y = C + I + G & S + T = I + G using any approach of your choice.
7. Derive the equilibrium income for an economy consisting of HH, BF & G imposes fixed & behavioral taxes and prove that Y = C + I + G & S + T = I + G using any approach of your choice.
8. Derive the equilibrium income for an economy consisting of HH, BF & G imposes fixed & behavioral taxes but grants transfer payments and prove that Y = C + I + G & S + T = I + G + TR using any approach of your choice.
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