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Consider a closed economy to which the Keynesian-cross analysis applies. Consumption is given by the equation C = 200 + 2/3(Y - T). Planned investment is 300, as are government spending and taxes.
a. If Y is 1,500, what is planned spending? What is inventory accumulation or decumulation? Should equilibrium Y be higher or lower than 1,500?
b. What is equilibrium Y? (Hint: Substitute the values of equations for planned consumption, investment, and government spending into the equation Y = C + I + G and then solve for Y.)
c. What are equilibrium consumption, private saving, public saving, and national saving?
d. How much does equilibrium income decrease when G is reduced to 200? What is the multiplier for government spending?
Duff Inc. paid a 2.06 dollar dividend today. If the dividend is expected to grow at a constant 4 percent rate and the required rate of return is 7 percent, what would you expect Duff's stock price to be 3 years from now
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There are three firms in an economy: A, B, and C. Firm A buys $250 worth of goods from firm B and $200 worth of goods from firm C, and produces 200 units of output, which it sells at $5 per unit. Firm B buys $100 worth of goods from firm A and $15..
Suppose the LRAS is positioned at a real GDP of $12 trillion in base year dollars, and the long run equilibrium price level (in index number form) is 115. The corresponding full employment level of nominal GDP must be how much trillion dollars.
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