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Please explain and solve the problem below.
Assume that the full-employment level of output is $600 and the price level associated with full-employment output is 100. Also assume that the economy's current level of output is $550 and at the price level of 100 current aggregate demand is $465. If the government wants to move the economy back to the full-employment level of output and the MPC is 0.9, then it should reduce taxes by?
Suppose the economy's production function is Y = A(300N – N^2). The marginal product of labor is MPN = A(300 - 2N). Suppose that A = 10. The supply of labor is NS = 0.05w + 0.005G. If G is 26,000, what are the real wage, employment, and output?
Suppose a consumer’s utility function is given by U(X,Y) = X*Y. Also, the consumer has $720 to spend, and the price of X, PX = 9, and the price of Y, PY = 9. How much total utility does the consumer receive? Now suppose PX decreases to 4. What is the..
Analyze the effects of a tax cut in an IS-LM model. How does the tax cut shift the IS curve and the LM curve? How are equilibrium interest rate and level of income different from its original level?
The secretary general of OPEC, Ali Rodriquez, stated that it would be easier for OPEC nations to make future supply adjustments to fix oil prices that are too high, than it would be to rescue prices that are too low. Evaluate this statement.
Describe the Lucas critique. Why might the level of government debt affect the government's incentives regarding money creation?
Always Round Tire finds that their demand curve is P = 50 − .02 Q (note: Marginal Revenue has twice the slope as the demand curve). What price and quantity combination will maximize the firm's revenue? Q=1250 P=25 ***What are the total revenue and pr..
The complexity of the international financial community has never more apparent during a global financial crisis. The international financial community is more vital to the functioning of the US economy than many traditional economic institutions in ..
Summarize the controversy over the value of the Chinese yuan in foreign currency markets. Is China still using central bank foreign exchange policy to maintain the value of the yuan? What is the current policy of the United States on this issue?
When comparing the distribution of wealth to the distribution of income, it can be noted that
q1. what are the most important things to consider when making a pricing decision for a good whose demand as well as is
Welfare effects of a tariff in a small country Suppose Guatemala is open to free trade in the world market for soybeans. Because of Guatemala's small size, the demand for and supply of soybeans in Guatemala do not affect the world price.
these cuts are not discriminate theory, re is nothing EU can or should do about m. So why are some old EU members so upset about East European taxes.
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