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- The saving function is given as:- S = -25 +0.25Y Calculate the equilibrium level of income in the economy if it is given that the planned investment is $200 million.If U.S. consumers become more optimistic about their future income and wealth, the consumption function will shift upward. True or FalseGiven consumption function C = 0.6Y + 35 1) Find the equilibrium level of income Y for the planned investment l = 12 ? 2)Find the equilibrium level of consumption
- If Evan's income is reduced to zero after he loses his job, his consumption will be ________ and his saving will be ________. a.greater than zero; less than zero b.greater than zero; greater than zero c.less than zero; greater than zero d.less than zero; less than zeroA decline in the interest rate, other things constant, shifts the investment schedule downward. O True O FalseThe position of IS curve depends on_______. Select one: a. none of the given options b. rate of investment, c. rate of interest, d. autonomous expenditure
- a) Draw a consumption function and label the axes.b) Suppose that your friend has a consumption function of the form y=1.4x+200. Is this function sustainable in the long run? Why or why not?c) Suppose that your consumption function is y=0.75+1000. What is your marginal propensity to consume? What is your autonomous expenditure?d) State the permanent income hypothesis.e) Suppose that I raise your income today by $10, and lower it tomorrow by $10. How would your behavior change according to the consumption function (aka Keynesian, aka rule-of-thumb) model? And what about according to the permanent income hypothesis model?Assume that a national restaurant chain called BBQ builds 20 new restaurants at a cost of $1 million per restaurant. It outfits each restaurant with an additional $400,000 of equipment and furnishings. To help partially defray the cost of this expansion, BBQ issues and sells 400,000 shares of stock at $40 per share. a. What is the amount of economic investment that has resulted from BBQ’s actions? $_________ million b. How much purely financial investment took place? $__________ millionAssume that the consumption function is given by C = 500 + 0.75 (Y − T). If income increases by 100, then saving will increase by
- Suppose that an economy's net investment flow is I(t) = 2t + 10t1/2.Letting K(0) is the initial investment, use the definite integralto find the level of capital: a.Next 5 yearsb. Initial investment, K(0) = 100Suppose that firms produce according to the production function Y = AK1/2L1/2, where A = 5 andL = 400. Assume that the prices of capital and output are equal and that the real interest rate, r, isequal to 0.25 and the depreciation rate, δ, is equal to 0.1.1. If firms operate according to the neoclassical theory of investment, what is the optimal levelof capital stock, K (YP) to rich (YR).22. Suppose that the government offers an investment tax credit which changes the relative priceof capital. This results in Pk = 3 and P = 6. What is the new optimal level of capital stock,K??3. Does the investment tax credit have an expansionary impact on the economy? Explain whyor why not.4. Based on the optimal capital stock computed in part (2), what is the level of investmentneeded to sustain this level of capital stock?The following equations describe an economy: C= 10 + 0.5 Y (Consumption function) I = 190-20i (Investment function) Derive the equations for IS curve and represent it graphically for i=2 and i=5