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Q. Assume that economists observe that in a closed economy an increase in government spending of $10 billion raises total demand for goods and services by $30 billion.
* If se economists ignore possibility of crowding out, illustrate what would y estimate marginal propensity to consume (MPC) to be?
* Now assume that economists allow for crowding out. Would their new estimate of MPC be larger or smaller than their initial one?Assume that government of a closed economy reduces taxes by $20 billion, that re is no crowding out and that marginal propensity to consume is 3/4.
* Illustrate what is initial effect of tax reduction on aggregate demand?
* Illustrate what additional effects follow this initial effect? Illustrate what is total effect of tax cut on aggregate demand?
* How does total effect of this $20 billion tax cut compare with total effect of a $20 billion increase in government purchases? Why?
Illustrate money supply should the Bank of Canada set next year if it wants to keep the price level stable.What money supply should the Bank of Canada set next year if it wants inflation of 10 percent.
What are the factors that affect pay differentials? How does each factor increase or decrease relative wages?
Propose how it can conclude the efficient levels of information in an organization to justify taking risk over uncertainty.
Identify at least three such factors that, in your view, should be included in the GDP calculations; then elucidate and illustrate how could they will help to improve the GDP as a tool for measuring the well-being of a nation.
Illustrate what is the marginal cost of the 1,000th packet. Is this firm making an economic profit, a normal profit, or an economic loss
The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table.
Illustrate what are some examples of goods which the U.S. has comparative advantage in producing.
Hardwood Cutters presents seasoned as well split fireplace logs to consumers in Toledo, Ohio. The low-cost provider company is of firewood in market with fixed costs.
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
a bear that weighs 4000n gasps a vertical and slides down at constant velocity. Illustrate what is the friction force that acts on the bear.
Illustrate what risks do you face. Upon inquiry at your bank, you find that the forward price for a September contract to buy dollars is 10SKr per dollar. How might you hedge your exchange-rate risk for the first year.
Besides elections and campaigns, do the major political parties influence public values and ideas.
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