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Consider the following model of aggregate demand, in which there is no international trade, the price level is fixed, and the symbols are defined as in class (all dollar amounts in billions):
C = 10 + (10/11)DI
I = 15
G = 15
Taxes = (1/10)GDP
Determine the equilibrium GDP in this economy (show your work). Draw this equilibrium on a properly labeled graph. Then use the multiplier to determine what will happen to equilibrium GDP if there is an exogenous 20 billion dollar increase of government purchases. As a result of this change, what will happen to the equilibrium values of consumption, saving, and the government budget deficit? Explain.
Illustrate what happens to the supply curve and the equilibrium point when a new technology improves a production process.
an economic bad is something you dont want to consume i.e. less bad is better. define an economic bad mathematically
university is probably an M-form organization. Its president administers schools, for example, a college of business and a college of liberal arts. The college of business Each of these in turn has a dean who is responsible for faculty departments..
The problem is related to macroeconomic and it is describe the research on the economic performance of china over the last ten years from 2004 to 2013.
give answers for below questions in detail....nbsp nbsp nbsp nbspa show how to find equilibrium in an rc model
Yesterday, a perfectly competitive producer of construction bricks manufactured and sold 10,000 bricks per week at a market price that was just equal to the minimum average variable cost of producing each brick.
Currently, the island of Guam does not have a minimum wage need but uses the United States minimum wage as a reference. Give a theoretical justification for why imposition of a $5.15 minimum wage.
Describe what effect a contractionary fiscal policy would've on the price level and real GDP starting from full employment equilibrium.
It turns out that the city of Tucson cannot enforce the minimum wage very well and they cannot tell employers whom to hire. An underground market for jobs develops. The city has limited resources for enforcement, so that they can only catch employ..
Assess President Obama and the Congressional Majority Democrats' stimulus, budgetary, and health care initiatives in the context of promoting Economic Growth and Development.
our friend wants to pay off her two debts in a single payment. The first debt is $570 due in 8 months, and the second is $1,380 due 1 1/2 in years. What will that single payment be if she wants to make it at the end of 1 year given a compound inter..
Distinguish between a carbon-tax and a cap-and-trade strategy for reducing carbon dioxide and other so-called greenhouse gases (that are believed by many scientists to be causing global warming). Which of the two strategies do you think would have t..
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