Homework Answers
1.claim 1 is false. If an increase in govt. spending is matched by an equal increase in taxes so that the budget remains balanced, output and national income will rise by the amount of the increase in govt spending.
claim 2. true, the amount of investment depends on the marginal propensity to invest.
2.false
3.false
4.true
5.uncertain
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TRUE-FALSE-UNCERTAIN For each of the following claims, indicate whether it is true or false, or whether...
Part A: True/False/Uncertain Questions Indicate whether each of the following statements is true, false or uncertain...
Part A: True/False/Uncertain Questions Indicate whether each of the following statements is true, false or uncertain and explain why. Most of the marks depend on the quality of the explanation - unsupported answers will receive little or no marks. Each question is worth 5 marks for a total of 20 marks. (1) An increase in the tax rate has the same effect on the aggregate expenditure function as a decrease in government spending.
Are the following statements True / False / Uncertain? Support your answer with explanation. 1. It...
Are the following statements True / False / Uncertain? Support your answer with explanation. 1. It is even better for a perfectly competitive firm to produce output even though it is loosing money. 2. If the output elasticity of the total cost is less than one, we have disec- onomies of scale. 3. Inputs are perfect substitutes when one input can always be substitutes for the other on fixed terms and thus corresponding production function is called fixed-proportion production function....
Indicate whether you consider each of the following statements to be true, false or uncertain, and...
Indicate whether you consider each of the following statements
to be true, false or uncertain, and then explain your answers
1. [ 8 points) Gross National Product (GNP) is higher than Gross Domestic Product (GDP) for an economy. 2. [ 8 points] An increase in the price level (such as GDP price index) will shift the IS curve to the right. 3. [ 8 points] Monetary policy is more effective when the LM curve is relatively steeper. 4. [ 8...
Determine whether each of the following statements is true or false, and explain why
Determine whether each of the following statements is true or false, and explain why. For each true statement, discuss the impact of monetary and fiscal policy in that special case.a. If investment does not depend on the interest rate, the LM curve is horizontal.b. If investment does not depend on the interest rate, the IS curve is vertical.c. If money demand does not depend on the interest rate, the IS curve is horizontal.d. If money demand does not depend on...
True, False, Uncertain State whether each of the following statements is true, false or uncertain. Explain and...
True, False, Uncertain State whether each of the following statements is true, false or uncertain. Explain and support your answer. There is not necessarily one right answer to these questions. All the credit is in the explanation (but you must state T, F, or U). The full cost of medical school includes mainly tuition, room, and board for the school. Uncompensated care in the U.S. is entirely subsidized by government programs, namely Medicare and Medicaid. In a DRG payment system, hospitals receive payment...
1. True, False or Uncertain: For each of the following statements determne if the statement is...
1. True, False or Uncertain: For each of the following statements determne if the statement is TRUE, FALSE, or UNCERTAIN. You must justify your answer either graphically or algebraically. No credit will be given without an explanation. a. "Suppose that the CPI in Japan in 2015 is equal to 180 and the CPI in the United States in 2015 is equal to 165. Then the inflation rate in Japan was higher than the U.S. inflation rate between 2014 and 2015."...
Short Questions Please indicate whether the following statements are True, False or Uncertain. Support your answer...
Short Questions Please indicate whether the following statements are True, False or Uncertain. Support your answer with an explanation (one to two sentences) or a diagram (75% of credit is based on your explanation!) 1. The government should only intervene in the economy when there are market failures. [2 marks 2. A utilitarian social welfare function implies that income redistribution from rich to poor will reduce social welfare. [2 marks] 3. A policy intervation will increase social welfare if and...
Identify the true, false, and uncertain arguments. Economists that favor tax cuts recommend them as a...
Identify the true, false, and uncertain arguments. Economists that favor tax cuts recommend them as a first line of defense during recessions. During the 2008-2009 downturn, the Fed favored monetary policy over fiscal policy In 2009, economists in the Obama administration estimated that the tax cuts multiplier was lower than the multiplier of government purchases Critics of government spending hikes worry about the additional savings brought about by tax cuts The 2008-2009 downturn would have been worse if there had...
Indicate whether each of the following statements is true, false, or uncertain and explain your answer....
Indicate whether each of the following statements is true, false, or uncertain and explain your answer. Be sure to clearly define any concepts included in your answer and label all graphs. Suppose that inverse market demand for Firm A sweatshirts is P= 200 – 2QD and inverse market supply for these sweatshirts is given by P = 7.5 + ½QS. The economic incidence of a tax on Firm A sweatshirts will fall more on consumers than on producers. Dan’s Deli...
For each statement, decide whether it is True, False or Uncertain and explain why briefly 1-...
For each statement, decide whether it is True, False or Uncertain and explain why briefly 1- Y=w*L + r *K , where Y is GDP, is this equation true? And if it is, can you explain the intuition? 2- Output is a function of Capital and Labor. In the Solow growth model, you can save and grow your capital indefinitely, and then your economy will always grow and standards of living will rise forever. 3- In the neoclassical model, government...
Part A: True/False/Uncertain Questions Indicate whether each of the following statements is true, false or uncertain and explain why. Most of the marks depend on the quality of the explanation - unsupported answers will receive little or no marks. Each question is worth 5 marks for a total of 20 marks. (1) An increase in the tax rate has the same effect on the aggregate expenditure function as a decrease in government spending.
Are the following statements True / False / Uncertain? Support your answer with explanation. 1. It is even better for a perfectly competitive firm to produce output even though it is loosing money. 2. If the output elasticity of the total cost is less than one, we have disec- onomies of scale. 3. Inputs are perfect substitutes when one input can always be substitutes for the other on fixed terms and thus corresponding production function is called fixed-proportion production function....
Indicate whether you consider each of the following statements
to be true, false or uncertain, and then explain your answers
1. [ 8 points) Gross National Product (GNP) is higher than Gross Domestic Product (GDP) for an economy. 2. [ 8 points] An increase in the price level (such as GDP price index) will shift the IS curve to the right. 3. [ 8 points] Monetary policy is more effective when the LM curve is relatively steeper. 4. [ 8...
1. True, False or Uncertain: For each of the following statements determne if the statement is TRUE, FALSE, or UNCERTAIN. You must justify your answer either graphically or algebraically. No credit will be given without an explanation. a. "Suppose that the CPI in Japan in 2015 is equal to 180 and the CPI in the United States in 2015 is equal to 165. Then the inflation rate in Japan was higher than the U.S. inflation rate between 2014 and 2015."...
Short Questions Please indicate whether the following statements are True, False or Uncertain. Support your answer with an explanation (one to two sentences) or a diagram (75% of credit is based on your explanation!) 1. The government should only intervene in the economy when there are market failures. [2 marks 2. A utilitarian social welfare function implies that income redistribution from rich to poor will reduce social welfare. [2 marks] 3. A policy intervation will increase social welfare if and...
Identify the true, false, and uncertain arguments. Economists that favor tax cuts recommend them as a first line of defense during recessions. During the 2008-2009 downturn, the Fed favored monetary policy over fiscal policy In 2009, economists in the Obama administration estimated that the tax cuts multiplier was lower than the multiplier of government purchases Critics of government spending hikes worry about the additional savings brought about by tax cuts The 2008-2009 downturn would have been worse if there had...
For each statement, decide whether it is True, False or Uncertain and explain why briefly 1- Y=w*L + r *K , where Y is GDP, is this equation true? And if it is, can you explain the intuition? 2- Output is a function of Capital and Labor. In the Solow growth model, you can save and grow your capital indefinitely, and then your economy will always grow and standards of living will rise forever. 3- In the neoclassical model, government...
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