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2. (45 points total - 5 points each part except part e) A closed economy has full employment level of output (Y) of 2,000. Government purchases, G, are 200, taxes (T) are 400. Desired consumption (Cd) and investment (Id) are: Cd = 550 + 0.5(Y -T) - 600r Id = 600 - 400r We now have a change in the desired investment function - it is now: Id = 570 - 400r c) Name four reasons why the desired investment function would change the way it did. d) Resolve for the goods market clearing interest rate and the associated levels of desired savings and investment.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
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"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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