tion 11 nation's potential output/GDP is best described as: The maximum growth rate of output/GDP a nation can sustain by keeping taxes low. The maximum level of output/GDP which can be produced with a nation's resources. A high-employment level of output/GDP. The maximum growth rate of output/GDP a nation can sustain by keeping both taxes and interest rates low. The maximum growth rate of output/GDP a nation can sustain by keeping interest rates low.
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- in 2019 fiscal year estimated that Ghanaians saved 20 percent of their disposable income; however, due to overconsumption in the previous year, autonomous saving for 2019 was negative 100 million Ghana cedis. The government of Ghana imposed a lump sum tax of Gh ₡ 20 million. In addition to the lump sum tax the government also took 20 percent of all incomesearned in the economy in the form of proportional tax. The total government expenditure was GH ₡50 million in 2019. Total investment recorded for 2019 was 66 million. (A) Determine the tax function for this economy, derive the consumption function based on the above information and write out the aggregate demand equation (b) Determine the equilibrium consumption and calculate the value of the government expenditure multiplier for this economy and interpret your result (c) Calculate the total tax revenue to the governmentRead the following premise carefully and answer the questions specifically and in detail, you must answer the request with the correct information, showing that you understand and can properly apply the concepts. Try to address all the elements of each question and always express the answers in your own words. "In the face of unstable economic growth due to a recession or accelerating inflation, potential problems with large public debt include higher income inequality, reduced economic incentives, and crowding out of private investment". 3. Expresses in detail the effects of expansionary and contractionary fiscal policy on income and the price level.Use the following to answer questions 9-12: 58. Refer to the above table. Between years 1 and 2, real GDP grew by __________ percent in Alta: A) 3 percent. B) 4 percent. C) 5 percent. D) 10 percent. 59. Refer to the above table. Between years 1 and 2, real GDP per capita grew by __________ percent in Alta: A) 3 B) 4 C) 5 D) 10 60. Refer to the above table. Between years 2 and 3: A) Alta's real GDP grew more rapidly than Zorn's real GDP. B) real GDP fell in Zorn. C) population growth reduced Alta's real GDP growth to zero. D) population fell in Alta. Refer to the above table. Per capita GDP was about: A) $105 in year 3 in Alta. B) $303 in year 3 in Zorn. C) $200 in year 1 in Zorn. D) $5 in year 2 in Alta.
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