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Suppose that an initial $40 billion increase in investment spending expands GDP by $40 billion in the first round of the multiplier process. If GDP and consumption both rise by $36 billion in the second round of the process, what is the MPC in this economy?
What is the size of the multiplier?
If, instead, GDP and consumption both rose by $38 billion in the second round, what would have been the size of the multiplier?
Using the tools during development will reduce the MCS projects' Language and Toolset Experience rating from Nominal to Low. During maintenance, the experience with the tools will return the rating to Nominal. The cost of the tools is $500K.
julie has preferences for food, f, and clothing, c described by a utility function u(f,c)+f*c. her marginal utilities are Muf=c and Muc=f. suppose that food cost $1 a unit and that clothing costs $2 a unit. julie has $12 to spend on food and cloth..
Suppose that the stock market crashes and, as a result, people in Gotham City are poorer. This reduces the quantity of taxi rides demanded by 6 million rides per year at any given price. What effect will the mayor's new policy have now
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year they sold 4000 of these skateboards. The company bellieves that the price elasticity for this product is about -2.5.
Consider an IS-LM model in which money demand depends on after-tax income, so the LM equation is M / P = L(r,Y ?T) . The IS equation is standard one, Y = C(Y T) + I(r) +G. Assuming a fixed price level in the short run, find the signs of dY* / dG a..
When the more current observations are more relevant to estimate of next period than previous observations, the naive forecasting method to employ is
intermediaries come from a competitive market with an equilibrium price of $8 per unit for their services, that is, any buyer or seller who wants intermediary's services must pay $8 for them. What is the maximum per unit that sellers are willing t..
Suppose that a paper mill "feeds" a downstream box mill. For the downstream mill, the marginal profitability of producing boxes declines with volume. The 1st unit of boxes increases earnings by $10, the 2nd by $9, the third $7, and so on, until th..
Two processes can be used for producing a polymer that reduces friction loss in engines. Process T will have a first cost of $750,000, an operating cost of $60,000 per year, and a salvage value of $80,000 after its 2-year life.
The demand in the cake market is Qd =500 - 10p and unrestricted supply is Qs = 100 + 10p. Suppose the government imposes a baker's license that reduces cake supply to Q¢s =10p. Calculate the numerical values of the following:a. Price that cons..
Modifying a product to increase its "value added" benefits customers and can enhance supplier profits. For example, suppose an improved version of a product increases customer value added by $25 per unit. (In effect, the demand curve undergoes a p..
Calculate Lorie's profit-maximizing output, price, and economic profit. B) Do you expect other firms to enter the singing lesson business and compete with Lorie C) What happens to the demand for Lorie's lessons in the long run
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