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Consider a closed economy, where the price level P is constant and equal to 4.You are given the following additional information: C = 1,000 + 0.8(Y - T) T = 0.25Y - 100 I = 3,000 - 1,000r G = 500 L = 20,000r M = 6,400 A.What is the equilibrium level of income? What is the equilibrium level of the interest rate? Explain how you obtained your answers. B. The public increases its demand for money such that L = 30,000r. The Bank of Canada responds by increasing the money supply such that M = 9,600. What is the equilibrium level of income? What is the equilibrium level of the interest rate? Explain how you obtained your answers. C. Compare the equilibrium level of income for Part A with the equilibrium level of income for Part B. Explain why this result has occurred.
characterize the long run equilibrium of a perfectly competitive industry in which average costs are U-shaped as output increases, under both restricted and free entry.
Show that maximizing prot implies cost minimization.
Assume that, as the chair of the Fed, you make a decision to "put policy on automatic pilot" and require that monetary policy follow an established rule.
Estimate the cash flow to be included in the horizon year and what will be the horizon value if there is no profit growth?
By specializing in the production of particular goods in which it has a comparative advantage, a nation is:A) less likely to make efficient use of available resources.
Suppose that unusually hot weather causes the demand curve for ice cream to shift to the right. Why will the price of ice cream rise to a new market-clearing level?
Suppose there are 60 million people employed, 10 million unemployed, and 30 million not in the labor force. what does the civilian noninstitutional population equal?
You are considering auctioning a Leonardo Da Vinci original sketch. You entice four bidders to come to your auction. The bidders’ valuations of the sketch in decreasing order are $3.0, $2.2, $2.0, and $1.5 (in millions).
Relates to content and skills covered in Week 7 of the Weekly Study Program, Chapter 32 of Ganset al. (2012). Refer here to the comments given for Week 7 for assistance in answering this question.
suppose two entities are considering collusion - to make things legal consider a situation similar to opec except
The market for good X is initially in equilibrium at $5. The government then places a per-unit tax on good X, as shown by the shift of S1 to S2. Approximately what percentage of the tax do producers end up paying?
The aggregate supply curve shows the relationship between the aggregate price level and: Profit per unit equals:
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