Macroeconomics models are used to explain how ___________ variables influence _________ variables. (a) Microeconomic; macroeconomic (b)...
Macroeconomics models are used to explain how ___________ variables influence _________ variables.
(a) Microeconomic; macroeconomic
(b) macroeconomic; microeconomic
(c) endogenous; exogenous
(d) exogenous; endogenous
Homework Answers
(a) Microeconomic; macroeconomic
Macroeconomics models are used to explain how Microeconomic variables influence macroeconomic variables.
Add Answer to:
Macroeconomics models are used to explain how ___________
variables influence _________ variables.
(a) Microeconomic; macroeconomic
(b)...
Which of the following statements regarding macroeconomic models is correct? Macroeconomic models focus primarily on the...
Which of the following statements regarding macroeconomic models is correct? Macroeconomic models focus primarily on the optimizing behavior of households and firms. The purpose of economic models is to show how endogenous variables affect exogenous variables. Macroeconomic models are based on simplyfing assumptions. Macroeconomic variables can only be expressed by mathematical equations.
Important characteristics of macroeconomic models include all of the following except: implicit or explicit consistency with...
Important characteristics of macroeconomic models include all of the following except: implicit or explicit consistency with microeconomic foundations functional relationships based on controlled experiments. O endogenous and exogenous variables O simplifying assumptions
in the macroeconomics model below matrix In the macroeconomic model below, Y is aggregate output, C...
in the macroeconomics model below matrix
In the macroeconomic model below, Y is aggregate output, C is aggregate consump- tion, Io is aggregate investment, Go is government spending, T is the total amount of taxes collected by the government, and t is income tax rate. The variables Y, C, and T are en dogenous, Go, lo, and t are exogenous, and a, b, and k are parameters. Express this system of equations in a matrix form, clearly wrting out and...
Need help, please show work. For B, the answer choices are (increase, decrease, or stay the...
Need help, please show work. For B, the answer choices are
(increase, decrease, or stay the same). For C, the potential
answers are in the answer bank.
The Science of Macroeconomics- End of Chapter Problem Assume consumers feel that frozen yogurt is a substitute for ice cream and that the price of frozen yogurt falls. Use this information to answer the three following questions. a. The accompanying supply and demand diagram depicts the market for ice cream. Shift the demand...
EC2040-5 Question 2 [40 points] Consider the following macroeconomic model: Y=C+10 + Go c-a+b(Y-T) Where the...
EC2040-5 Question 2 [40 points] Consider the following macroeconomic model: Y=C+10 + Go c-a+b(Y-T) Where the endogenous variables are Y,c and T, while the exogenous variables are Go and lo. The parameters are such that a > 0,d 0,0 < b a) Set up the model in matrix form. [5 points] b) Find the inverse of the matrix of parameters [10 points] c) Use Cramer's rule to find equilibrium income Y and equilibrium taxes [10 points] d) Find and discuss...
15.2.2 15.2.1 Consider the following macroeconomic model: Y = C+1, C = a +by (a >...
15.2.2
15.2.1 Consider the following macroeconomic model: Y = C+1, C = a +by (a > 0, 0<b< 1). The endogenous variables Y and C are national income and consumption respec- tively, and the exogenous variable I is investment. Find the equilibrium values of Y and C in terms of I and the parameters a, b. Find also an expression for the change in Y when I increases from Io to I1, determine its sign and comment on its magnitude....
4. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following...
4. Analyze the difference between macroeconomics and microeconomics (written response). Determine whether each of the following is primarily a macroeconomic issue or a microeconomic issue (answer only). A) What price to charge for a TV B) Tax reform on total consumer spending in the economy C) Your family's decisions about what to purchase D) A contractor's decision regarding how much to work each week E) Government policy to increase employment
4. (28 pts) Consider the following macroeconomic model: Y C M = C + Io +...
4. (28 pts) Consider the following macroeconomic model: Y C M = C + Io + Xo - M = a +bY = u +mY a> 0 and 0 <b<1 u> 0 and 0 <m < 1 The three endogenous variables are Y (income), C (consumption), and M (imports). The variables I. (investments) and X. (exports) are exogenous. Also, a, b, u and m are exogenous constants satisfying the restrictions presented above. (a) Write this system as a 3 x...
Our week one discussion is primarily focused on two introductions: macroeconomicsand microeconomics. Macroeconomics is focused on...
Our week one discussion is primarily focused on two introductions: macroeconomicsand microeconomics. Macroeconomics is focused on the overall level of economic changes, i.e., changes in unemployment and monetary changes (currency exchange rates). There are many macroeconomic events that greatly influence a manager’s decisions about production and pricing; yet many of these events are beyond the control of management. As such, for your first discussion assignment please complete the following task by Wednesdayand then respond to at least two of your...
Macroeconomics model usually wants to model Output Y, Consumption C, Investment I, and Interest Rate r...
Macroeconomics model usually wants to model Output Y, Consumption C, Investment I, and Interest Rate r taking as given Government spending Go, taxes To and Money in the economy Mo. The variables Y, C, I, and r are therefore endogenous while Go, Mo and To are exogenous. a,b,c,d,e,f are parameters. (i) Write the following system using matrix notation (5pts) (ii) Find the determinant of the coefficient matrix (the A matrix) (5 pts) (iii) Let a,b,c,d,e,f to be equal to 1...
Important characteristics of macroeconomic models include all of the following except: implicit or explicit consistency with microeconomic foundations functional relationships based on controlled experiments. O endogenous and exogenous variables O simplifying assumptions
in the macroeconomics model below matrix
In the macroeconomic model below, Y is aggregate output, C is aggregate consump- tion, Io is aggregate investment, Go is government spending, T is the total amount of taxes collected by the government, and t is income tax rate. The variables Y, C, and T are en dogenous, Go, lo, and t are exogenous, and a, b, and k are parameters. Express this system of equations in a matrix form, clearly wrting out and...
Need help, please show work. For B, the answer choices are
(increase, decrease, or stay the same). For C, the potential
answers are in the answer bank.
The Science of Macroeconomics- End of Chapter Problem Assume consumers feel that frozen yogurt is a substitute for ice cream and that the price of frozen yogurt falls. Use this information to answer the three following questions. a. The accompanying supply and demand diagram depicts the market for ice cream. Shift the demand...
EC2040-5 Question 2 [40 points] Consider the following macroeconomic model: Y=C+10 + Go c-a+b(Y-T) Where the endogenous variables are Y,c and T, while the exogenous variables are Go and lo. The parameters are such that a > 0,d 0,0 < b a) Set up the model in matrix form. [5 points] b) Find the inverse of the matrix of parameters [10 points] c) Use Cramer's rule to find equilibrium income Y and equilibrium taxes [10 points] d) Find and discuss...
15.2.2
15.2.1 Consider the following macroeconomic model: Y = C+1, C = a +by (a > 0, 0<b< 1). The endogenous variables Y and C are national income and consumption respec- tively, and the exogenous variable I is investment. Find the equilibrium values of Y and C in terms of I and the parameters a, b. Find also an expression for the change in Y when I increases from Io to I1, determine its sign and comment on its magnitude....
4. (28 pts) Consider the following macroeconomic model: Y C M = C + Io + Xo - M = a +bY = u +mY a> 0 and 0 <b<1 u> 0 and 0 <m < 1 The three endogenous variables are Y (income), C (consumption), and M (imports). The variables I. (investments) and X. (exports) are exogenous. Also, a, b, u and m are exogenous constants satisfying the restrictions presented above. (a) Write this system as a 3 x...
Macroeconomics model usually wants to model Output Y, Consumption C, Investment I, and Interest Rate r taking as given Government spending Go, taxes To and Money in the economy Mo. The variables Y, C, I, and r are therefore endogenous while Go, Mo and To are exogenous. a,b,c,d,e,f are parameters. (i) Write the following system using matrix notation (5pts) (ii) Find the determinant of the coefficient matrix (the A matrix) (5 pts) (iii) Let a,b,c,d,e,f to be equal to 1...
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