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- If MPC = 0.5, a simultaneous increase in both taxes and government spending of $20 will a. decrease GDP by $20 b. increase GDP by $20 c. decrease GDP by $40 d. increase GDP by $40a tax decrease will decrease consumption a tax increase will increase consumption consumption and after-tax income are unrelated consumption varies inversely with after-tax incomes consumption varies directly with after-tax incomesIf a rise in government expenditure of $2 million led to a rise in GDP of $10million, calculate the rise in GDP resulting from a tax cut of $2 million. Group of answer choices $6 million. $8 million. $10 million. $12 million.
- If MPC = .5, a simultaneous increase in both taxes and worthless government spending of $20 will: decrease GDP by $20. decrease GDP by $40. increase GDP by $20. increase GDP by $40. Increase GDP by $60.Qn. 2 Discuss the major effects of taxes on the performance of our economy. Advise the government on some of the major guiding principles they should follow when introducing a tax system.Within the circular flow of income, withdrawals are composed ofA) saving, net taxes and import expenditure.B) consumption, net taxes and import expenditure.C) saving, net taxes and export expenditure.D) saving, investment and import expenditure.
- calculate the value of MPS when MPC is given to be as 0.37Give typing answer with explanation and conclusion Explain why a $1 increase in government spending leads to more than a $1 increase in GDP.How to calculate the level of GDP base on the MPC & MPS? Historical durations of recessions? The effect of foreign trade on the U.S. economy? Importance of who holds the public debt?
- Calculate net indirect taxes if GDP at FC is $33,000 and the GDP at MP is 37,000If households pay $1,000 in interest payments and receive $1,200 in interest, wages equal $9,000, rental receipts on land are $200, total business profits before taxes are $2,200, depreciation is $1,750, and indirect business taxes are $1,000, then gross domestic income isThe MPC is Group of answer choices the change in consumption divided by the change in income. consumption divided by income. the change in saving divided by the change in income. the change in consumption divided by the change in saving.