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Assume the United States has the following consumption information: GDP=Income $4000, $6000,$8000,$10000,$12000; Consumption $4500,$6000,$7500,$9000,$10500. Also the economy has G=$1100, I=$404, and Xn=$15. Unemployment in the economy is currently 5.2% and inflation is 0.1%. a) What is the MPC in this economy? b) What is the multiplier in this economy? c) What is the equilibrium level of gDP in this economy? d) What is the equilibrium level of income in this economy?
Chris raises cows and produces cheese and milk because he enjoys:
explain briefly about what kind of supply and demand elasticities for gasoline must be present in the U.S. market.
q1. what are the most important things to consider when making a pricing decision for a good whose demand as well as is
The U.S. government bought 112,000 acres of land in south eastern Colorado in 1968 for $17,500,000. The cost of using this land today exclusively for the reintroduction of the black-tailed prairie dog
Should the government limit the amounts that juries are allowed to award victims of medical malpractice, so as to reduce malpractice insurance premiums and thereby lower health care costs.
determine what would happen to total revenue if a firm raised its price in each elasticity range identified.
Important determinants of the demand for workstations and must therefore be included in the study. How would you respond to this implication.
If sales fall by 20 percent from 1,000,000 papers per month to 800,000 papers per month, what happens to the Average Fixed Costs per paper?
rom the Blades' Use of Long-Term Financing case study, formulate an overall corporate financial strategy to support the long-term financing of Blades, Inc.
The null hypothesis regarding a contingency table with 6 rows and 4 columns should be rejected (at 95% confidence) if the test statistic is greater than
Sketch a graph which shows the lost gains from trade that result from having a monopoly.
Why would your company have bid with a zero mark-up on some past tenders? Why didn't it win all of those contracts? What is the bid price that maximizes the expected contribution of the contract?
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