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B,c,d,e please solve Suppose in the economy autonomous consumption - $100, autonomous investmen $120, government purchases...
B,c,d,e please solve
Suppose in the economy autonomous consumption - $100, autonomous investmen $120, government purchases G-$400 lump-sum taxes = $70, transfers Tr-$20, exports Er $150 autonomous imports im = $30, marginal propensity to consume mpc = 0.8, proportional income tax rate 1-20%, marginal propensity to invest mpi-0.1, and marginal propensity to imports mpm-0.4 (a) For this economy calculate (i) the amount of autonomous spending: (ii) the value of the spending multiplier; (iii) the equilibrium level of output; (iv) the...
4. Suppose that the aggregate level of spending on consumer goods in an economy can be...
4. Suppose that the aggregate level of spending on consumer goods in an economy can be represented by the following equation: C = a + b* (Y-T) = 500 + 0.7*(Y-T) where 0.7 is the marginal propensity to consume (i.e. how much of each new dollar of income is spent on consumer goods) or “b”, Y is national income (or GDP) and T is the tax burden on consumers. (29 points total) a) Total nominal income is $200 billion while...
Country XYZ has the following Aggregate Demand Equation: Y = C + I + G C...
Country XYZ has the following Aggregate Demand Equation: Y = C + I + G C = 1,500 + 0.75Y I = 2,500 G = 6,000 a) Calculate equalibrium Y b) What is the value of Consumption? c) What is the value of Marginal Propensity to Consume?
Product 13) 13) The gap that exists when equilibrium real Gross Domestic (GDP) is greater than...
Product 13) 13) The gap that exists when equilibrium real Gross Domestic (GDP) is greater than full employment real Gross Domestic Product (GDP) is called a(n) A) demand gap. C) recessionary gap B) employment gap D) inflationary gap 14) 14) Economic growth will NOT result in inflation if aggregate demand shifts A) outward to the right at the same speed as aggregate supply B) outward to the right as aggregate supply shifts inward to the left. C) inward to the...
Which of the following shifts aggregate demand to the left?
Which of the following shifts aggregate demand to the left? a. Interest rates fall. b. Stock prices fall for some reason other than a change in the price level. c. The dollar depreciates for some reason other than a change in the price level. d. The price level rises. Which of the following shifts aggregate demand right? a. both a decrease in the price level and the implementation of an investment tax credit b. a decrease in the price level but not the implementation of an investment...
2) When the real wage is above the level that equilibrates supply and demand: Select one: a. It creates a deadweight loss in the labor market. b. the quantity of labor demanded exceeds the quantity su...
2) When the real wage is above the level that equilibrates supply and demand: Select one: a. It creates a deadweight loss in the labor market. b. the quantity of labor demanded exceeds the quantity supplied. c. GDP definitely rises. d. Interest rate rises. 3) If Central Bank A cares only about keeping the price level stable and Central Bank B cares only about keeping output at its natural level, then in response to an exogenous increase in the price...
The net export function illustrates that:A) net exports are a positive function of domestic income....
The net export function illustrates that:A) net exports are a positive function of domestic income.B) net exports are independent of domestic income.C) net exports are a negative function of domestic income.D) imports are independent of domestic income.E) exports are independent of foreign income. Suppose the marginal propensity to import for country A is 0.4. Calculate the change in total value of imports of the country if national income increases by $100,000.A) $16,000B) $20,000C) $60,000D) $40,000E) $25,000 An MPI of 0.4 indicates that...
1.Consider a closed economy with no taxes, whose consumption function, investment level & government spending level...
1.Consider a closed economy with no taxes, whose consumption function, investment level & government spending level are given by the following equations: C= 5,000 + .80Y I= 9,000 G= 2000 whereGrepresents government spending. The equilibrium condition is, as always, that the value of the economy’s output (Y) must be matched by aggregate demand, but now aggregate demand contains a third element, G. a. What is the equilibrium level of aggregate output for this economy? b. What is the saving function for this...
meh talucquClass: Date: Sweet Sixteen Multiple Choice Identify the choice that best completes the statement or...
meh talucquClass: Date: Sweet Sixteen Multiple Choice Identify the choice that best completes the statement or answer the question. 1. Classical economists believed that: a. price flexibility automatically directs market economies to full employment. b. budget deficits and surpluses were necessary for the control of economic fluctuations. c. market economies suffer prolonged periods of recessions and depressions d. market economies are inberently unstable because of fluctuating aggregate demand. 2. The popular theory prior to the Great Depression that the economy...
Chapter 13 Homework 00 Data on before tax income taxes paid, and consumption spending for the...
Chapter 13 Homework 00 Data on before tax income taxes paid, and consumption spending for the Simpson family in various years are given below. Before-tax inco ($) 25,800 27.000 28,69 Taxes paid (s) 3,00 Consumption spending ($) 20,000 21,350 22.07 23.600 4. Ono a. Graph the Simpsons' consumption function, then find their household's marginal propensity to consume and the intercept of the consumption function Instructions: On the graph below, use the line tool provided. Click and drag your mouse to...
B,c,d,e please solve
Suppose in the economy autonomous consumption - $100, autonomous investmen $120, government purchases G-$400 lump-sum taxes = $70, transfers Tr-$20, exports Er $150 autonomous imports im = $30, marginal propensity to consume mpc = 0.8, proportional income tax rate 1-20%, marginal propensity to invest mpi-0.1, and marginal propensity to imports mpm-0.4 (a) For this economy calculate (i) the amount of autonomous spending: (ii) the value of the spending multiplier; (iii) the equilibrium level of output; (iv) the...
4. Suppose that the aggregate level of spending on consumer goods in an economy can be represented by the following equation: C = a + b* (Y-T) = 500 + 0.7*(Y-T) where 0.7 is the marginal propensity to consume (i.e. how much of each new dollar of income is spent on consumer goods) or “b”, Y is national income (or GDP) and T is the tax burden on consumers. (29 points total) a) Total nominal income is $200 billion while...
Product 13) 13) The gap that exists when equilibrium real Gross Domestic (GDP) is greater than full employment real Gross Domestic Product (GDP) is called a(n) A) demand gap. C) recessionary gap B) employment gap D) inflationary gap 14) 14) Economic growth will NOT result in inflation if aggregate demand shifts A) outward to the right at the same speed as aggregate supply B) outward to the right as aggregate supply shifts inward to the left. C) inward to the...
meh talucquClass: Date: Sweet Sixteen Multiple Choice Identify the choice that best completes the statement or answer the question. 1. Classical economists believed that: a. price flexibility automatically directs market economies to full employment. b. budget deficits and surpluses were necessary for the control of economic fluctuations. c. market economies suffer prolonged periods of recessions and depressions d. market economies are inberently unstable because of fluctuating aggregate demand. 2. The popular theory prior to the Great Depression that the economy...
Chapter 13 Homework 00 Data on before tax income taxes paid, and consumption spending for the Simpson family in various years are given below. Before-tax inco ($) 25,800 27.000 28,69 Taxes paid (s) 3,00 Consumption spending ($) 20,000 21,350 22.07 23.600 4. Ono a. Graph the Simpsons' consumption function, then find their household's marginal propensity to consume and the intercept of the consumption function Instructions: On the graph below, use the line tool provided. Click and drag your mouse to...
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