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![Imum of 100) c = $400 T 8500, mpe = 0.9 - siner, C+1 Y: CHI Yo Te + hepcly] + Ī - Consumption function (c = c + mpcY) y = $40](http://img.homeworklib.com/questions/5d358ce0-294b-11ea-93cd-0beeabe68512.png?x-oss-process=image/resize,w_560)
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i have the answer, but need to know how to solve. Please explajn step by step. Situation 20-1 Assume a closed econ...
1. In a closed economy to have sustainable output, Aggregate Expenditures are equal to
1. In a closed economy to have sustainable output, Aggregate Expenditures are equal toa. Consumptionb. Consumption + Investmentc. Consumption + Investment + Govemmentd. Consumption + Investment + Net Exports2. The calculation 1 /(1-MPC) equalsa. Marginal Propensity to Saveb. Multiplierc. Aggregate Expenditured. Average Consumption3. In a closed economy, when Aggregate Expenditures equal GDP.a. Consumption equals investmentb. Consumption equals aggregate expenditurec. Saving = Planned Investmentd. Disposable income equals consumption minus saving4. Net exports are calculated asa. Importsb. Imports - Exportsc. Exports -...
how do you correctly do these problems? I am so confused. my economics teacher is not...
how do you correctly do these problems? I am so
confused. my economics teacher is not a math teacher.
1. Use the graph for Jerry's Consumption Function to answer a-d. Jerry's Consumption Function А с Jerry's consumption - Y Y2 Jerry's Income a. The line segment BD represents Jerry's b. Jerry's consumption equals his income at Point c. Along the line segment AC, Jerry's saving is d. Along the segment AB, Jerry's saving is 2. Use the following table to...
Practice Questions (Chapter 8 (Note: In order to provide some incentives, your scores will be recorded...
Practice Questions (Chapter 8 (Note: In order to provide some incentives, your scores will be recorded and the top 20% scorers of practice questions at the end of the semester will receive some extra credit.) 1. Aggregate consumption will certainly increase if a) income increases and wealth decreases. b) income increases and interest rates decrease. c) interest rates increase and household wealth decreases. d) interest rates increase and consumer confidence about the future strengthens. 2. The MPC is a) the...
1. Complete the table below where the cells are blank. (10 pts) Output Sensor Saving Inxstant...
1. Complete the table below where the cells are blank. (10 pts) Output Sensor Saving Inxstant Export Import ort GDP=DI Net Agg Age Unnind Output Invent Emploxmnt 250 260 310 15 330310 2. What number is unplanned inventories at output of $270 million? Explain what the unplanned inventories number means at that output level? (2 pts) 3. At $330 million of output what must happen in this open economy to reach equilibrium? (2 pts) 4. Equilibrium is achieved at what...
hestion Completion Status: QUESTION Consider a private, closed economy where aggregate consumption C depends on aggregate...
hestion Completion Status: QUESTION Consider a private, closed economy where aggregate consumption C depends on aggregate income Y according to the equation C. 15 0.5 Y. where planned investment is IP - 15. Using the above information, complete the following table: Y c R AER_ where AEP stands for aggregate expenditure planned. 1) Suppose that the GDP initially is Y 50. Obtain the corresponding levels of savings S and unplanned investment Is Y = 40 an income. expenditure equilibrium? If...
EXERCISE 1:TRUE OR FALSE 1. If the dollar appreciates relative to foreign currencies, we would expect...
EXERCISE 1:TRUE OR FALSE 1. If the dollar appreciates relative to foreign currencies, we would expect a country's net exports to fall. If government decreases its purchases by $20 billion and the MPC is 0.8, equilibrium GDP will decrease by $100 billion. When a private closed economy is at equilibrium, then (GDP-C) is equal to planned investment. If planned investment is larger than saving, then real GDP will increase as the economy adjusts toward equilibrium. 5. Positive net exports increase...
Suppose you have the following information about a fictitious economy. Assume there are no taxes in...
Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy. Disposable Income and Consumption Disposable Income Consumption dollars) (dollars) $e $7,000 10,500 14,000 21,880 21,000 31,589 28,000 42,880 1 35,000 52,500 42,000 Instructions: In parts a and c, enter your answers as a whole number. In part b, round your answers to two decimal places. a. What is the equilibrium level of consumption? S b. What is the MPC and MPS for...
2. Effect of Investment Suppose in a closed private economy households are spending 75 cents from...
2. Effect of Investment Suppose in a closed private economy households are spending 75 cents from each additional dollar that they receive as an income. Moreover, when they do not have any income, they are still spending $100 on their needs. (a) Derive the consumption function and the saving function in this economy. Draw the graphs in the (C-Y) space and in the (S-Y) space. (b) If there is no investment in the economy, what is the equilibrium level of...
provide an explanation with a steps of the answer for each question please 1,600 Planned aggregate expenditure, AE...
provide an explanation with a steps of the answer for each
question please
1,600 Planned aggregate expenditure, AE (billions of dollars) OS 1,600 Aggregate output, Y billions of dollars) Figure 24.5 1) Refer to Figure 24.5. If the economy is in equilibrium and the government decreases spending by $200 billion, equilibrium aggregate output decreases to S billion. A) 1,400 B) 1,200 C) 1,000 D) 800 2) Refer to Figure 24.5. If the economy is in equilibrium and the government increases...
4) Consider the following information describing a closed economy with no government and where aggregate output...
4) Consider the following information describing a closed economy with no government and where aggregate output is demand determined. All dollar figures are in billions 1. the equilibrium condition is Y=C+1 2. the marginal propensity to consime is 0.90 3. the autonomous part of C is $300 investment is autonomous and is $100 Refer to the information above. The equilibrium level of national income (Sbillions) will be A) $3600 B) $4000. C) $3000. D) $3900 E) $4400.
1. In a closed economy to have sustainable output, Aggregate Expenditures are equal toa. Consumptionb. Consumption + Investmentc. Consumption + Investment + Govemmentd. Consumption + Investment + Net Exports2. The calculation 1 /(1-MPC) equalsa. Marginal Propensity to Saveb. Multiplierc. Aggregate Expenditured. Average Consumption3. In a closed economy, when Aggregate Expenditures equal GDP.a. Consumption equals investmentb. Consumption equals aggregate expenditurec. Saving = Planned Investmentd. Disposable income equals consumption minus saving4. Net exports are calculated asa. Importsb. Imports - Exportsc. Exports -...
how do you correctly do these problems? I am so
confused. my economics teacher is not a math teacher.
1. Use the graph for Jerry's Consumption Function to answer a-d. Jerry's Consumption Function А с Jerry's consumption - Y Y2 Jerry's Income a. The line segment BD represents Jerry's b. Jerry's consumption equals his income at Point c. Along the line segment AC, Jerry's saving is d. Along the segment AB, Jerry's saving is 2. Use the following table to...
Practice Questions (Chapter 8 (Note: In order to provide some incentives, your scores will be recorded and the top 20% scorers of practice questions at the end of the semester will receive some extra credit.) 1. Aggregate consumption will certainly increase if a) income increases and wealth decreases. b) income increases and interest rates decrease. c) interest rates increase and household wealth decreases. d) interest rates increase and consumer confidence about the future strengthens. 2. The MPC is a) the...
1. Complete the table below where the cells are blank. (10 pts) Output Sensor Saving Inxstant Export Import ort GDP=DI Net Agg Age Unnind Output Invent Emploxmnt 250 260 310 15 330310 2. What number is unplanned inventories at output of $270 million? Explain what the unplanned inventories number means at that output level? (2 pts) 3. At $330 million of output what must happen in this open economy to reach equilibrium? (2 pts) 4. Equilibrium is achieved at what...
hestion Completion Status: QUESTION Consider a private, closed economy where aggregate consumption C depends on aggregate income Y according to the equation C. 15 0.5 Y. where planned investment is IP - 15. Using the above information, complete the following table: Y c R AER_ where AEP stands for aggregate expenditure planned. 1) Suppose that the GDP initially is Y 50. Obtain the corresponding levels of savings S and unplanned investment Is Y = 40 an income. expenditure equilibrium? If...
EXERCISE 1:TRUE OR FALSE 1. If the dollar appreciates relative to foreign currencies, we would expect a country's net exports to fall. If government decreases its purchases by $20 billion and the MPC is 0.8, equilibrium GDP will decrease by $100 billion. When a private closed economy is at equilibrium, then (GDP-C) is equal to planned investment. If planned investment is larger than saving, then real GDP will increase as the economy adjusts toward equilibrium. 5. Positive net exports increase...
Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy. Disposable Income and Consumption Disposable Income Consumption dollars) (dollars) $e $7,000 10,500 14,000 21,880 21,000 31,589 28,000 42,880 1 35,000 52,500 42,000 Instructions: In parts a and c, enter your answers as a whole number. In part b, round your answers to two decimal places. a. What is the equilibrium level of consumption? S b. What is the MPC and MPS for...
2. Effect of Investment Suppose in a closed private economy households are spending 75 cents from each additional dollar that they receive as an income. Moreover, when they do not have any income, they are still spending $100 on their needs. (a) Derive the consumption function and the saving function in this economy. Draw the graphs in the (C-Y) space and in the (S-Y) space. (b) If there is no investment in the economy, what is the equilibrium level of...
provide an explanation with a steps of the answer for each
question please
1,600 Planned aggregate expenditure, AE (billions of dollars) OS 1,600 Aggregate output, Y billions of dollars) Figure 24.5 1) Refer to Figure 24.5. If the economy is in equilibrium and the government decreases spending by $200 billion, equilibrium aggregate output decreases to S billion. A) 1,400 B) 1,200 C) 1,000 D) 800 2) Refer to Figure 24.5. If the economy is in equilibrium and the government increases...
4) Consider the following information describing a closed economy with no government and where aggregate output is demand determined. All dollar figures are in billions 1. the equilibrium condition is Y=C+1 2. the marginal propensity to consime is 0.90 3. the autonomous part of C is $300 investment is autonomous and is $100 Refer to the information above. The equilibrium level of national income (Sbillions) will be A) $3600 B) $4000. C) $3000. D) $3900 E) $4400.
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