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Suppose the government raises its revenue by a net tax of 25% on income, t = 0.25, the marginal propensity to consume out of disposable income is 0.8, and the government has an outstanding public debt of 1,500. The autonomous expenditure is (C0 + I0) is 600 and government expenditure is 400. What is the debt to GDP ratio?
1. How this reading relates to chapter 10? 2. What parts of the GDP this article talks about? Explain and provide examples. 3. What did you find interesting/not interesting in this article?
Assume that the product depicted below generates external costs in consumption of $4 per unit. What is the socially optimal output By how much does the market overproduce this good
Abraham drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.55 per can. On a particular day, he is willing to pay $0.95 for the first can, $0.80 for the second can, $0.60 for the third can, and $0.40 for the ..
Discuss briefly what you think the way in which the HDI is constructed. (Briefly means no more than five lines of text. Excesses are severely penalised.)
Which of the following is a central proposition of orthodox Keynesianism - output is constrained by aggregate supply
Show such data graphically. Upon what specific assumptions is this production possibilities curve based? If the economy is at point C, what is the cost of one more automobile? Of one more forklift? Describe how the production possibi..
Suppose you have to store employee records for your employer, the largest company in the states. The primary key is the Social Security number.
Suppose that Carl's budget is $20 and that apples cost $5 per unit and bananas cost $2 per unit. Draw our model of the optimal bundle with Apples on the horizontal axis. (You must show his indifference curves and his budget set.)
Compare the use of open market operations, discounting, and changes in reserve requirements to control money supply on the following criteria: flexibility, reversibility, effectiveness, and speed of implementation.
Let's watch a bank create money. Last Wednesday, the Bank of Numenor opened for business. The first customer, Edith, walked in the door with 100 silver coins called Thalers to deposit in a new checking account. The second customer, Max, walks in t..
What are the two problems facing the Bank of Canada in trying to control the money supply precisely?
Write down a household's budget constrain if there are four assets in the economy: money, (risk-free) physical capital, (risk-free) corporate and government bonds. What reasonable assumptions we can make about the return on the bonds and capital? Wha..
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