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Assume that the economy is characterized by the following structural equations:
C = 160 + 0.6 (4 - T)
I = 150; G = 150; T = 100.
a) Determine the equilibrium output level.18
b) If G increases to 200, what is the how equilibrium level of output? What is the value of the govt. expenditure multiplier?
c) If tax down to 50, by how much will equilibrium output increase? What is the value of tax multiplier?
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Why are the imports subtracted when GDP is measured in expenditure approach? If you woke up in the working & found that nominal GDP has doubled overnight. what statistic wou
Why is it important for policymakers to consider both the direct and indirect effects of public policies?
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Individual A has UA(XA,YA)=lnXA+2YA and has $500. PX=5 and PY =10. (a) Find the optimum. Show that it is indeed the maximum. (b) PX=10. Find the new optimum. (c) Calculate
Indicate whether each of the following statements is true, false, or uncertain, and explain your answer. Your grade will depend primarily on the quality of your explanation.
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