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- Consider an economy described by the following equations: Y=C+I+G C=100+.75(Y−T)C=100+.75(Y−T) I=500−50rI=500−50r G=125G=125 T=100T=100 Where: Y is GDP, C is consumption, I is investment, G is government spending, T is taxes and r is the rate of interest. Questions: a. What is the value of the multiplier? b. What is the equilibrium equation for Y? Show solution. c. Suppose the Central Bank policy is to adjust the money supply to maintain the interest rate at 4 percent,so r=4. What is the value of output? d. Assuming that no change in fiscal policy, what is the effect of a reduction in interest rate from 4 percent to 3 percent on equilibrium output. e. In this case, explain the policy that was used by the policymaker to target the aggregate demand.9 In the simple macro model with government and foreign trade, if the marginal propensity to consume out of disposable income is MPC, and the net tax rate is t, and the marginal propensity to import is m, then what will be the marginal propensity to consume out of national income? What will be the simple multiplier? Please show your stepsConsider an aggregate consumption function in a simple macro model with government and taxes. Given a marginal propensity to consume out of disposable income of 0.77and a net tax rate of 12 percent of national income, the marginal propensity to consume out of national income is ________.
- Assume a simple Keynesian macro model:AE = C + I C = 100 + 0.75Y I = 200i) Find the equilibrium level of income. Show the equilibrium on a graph. ii) Calculate the simple multiplier and find the effect on the equilibrium level of income of a change in the level of planned investment from 200 to 150 by using a multiplier.Discuss the multiplier effect including a description of what it describes in macroeconomic terms, how it is determined and an illustration of how it is defined.In each of the following cases, determine whether the IScurve shifts to the right or left, does not shift, or is indeterminate in the direction of shift.a. The real interest rate rises.b. The marginal propensity to consume declines.c. Financial frictions increase.d. Autonomous consumption decreases.e. Both taxes and government spending decrease by thesame amount.f. The sensitivity of net exports to changes in the realinterest rate decreases.g. The government provides tax incentives for researchand development programs for firms
- Consider an economy in which autonomous consumption, planned autonomous investment, autonomous government expenditure, autonomous taxes, and the marginal propensity to consume are given (there are no net exports). Autonomous consumer spending = $3,000 Ip = $5,000 G = $3,000 T = $4,000 MPC = .75 What is the value of the multiplier?Assume potential GDP is 4,000 and actual GDP is 3,000. If the consumption function is C=300+0.8Yd , how much does government expenditure need to rise by to close the output gap? (Please input the round number without any Euro symbol)If disposable income is 90 percent of national income, the marginal propensity to consume ( out of disposable income) is 0.75, and imports are 25 percent of national income. What is the simple multiplier?
- Explain in technical details why the Lagrange multiplier is currently used in analyzing the theory of the consumerConsider an economy in which autonomous consumption, planned autonomous investment, autonomous government expenditure, autonomous taxes, and the marginal propensity to consume are given (there are no net exports). Autonomous consumer spending = $3,000 Ip = $5,000 G = $3,000 T = $4,000 MPC = .75 (a) What is the level of C when Y = $19,000? I need help to know how to calculate this.Given C=500 + 0.80Y and I = 100 and C and I are the only components of AD. Based on the equilibrium level of output above, how much of it came from induced consumption spending?Based on the multiplier model, the equilibrium level of output will be equal toHow much is the value of the expenditure multiplier?
