You are given the following information about the economy Personal consumption 6500 Indirect taxes less subsidies 150 State government consumption 500 Rental Income 2000 Change in business inventories 100 Stock appreciation 80 Gross private domestic Investments 1200 Exports 900 Net factor payments -100 Imports 1200 Depreciation 200 Define and calculate the following: GDPMP, GDPFC, GNPMP,GNPFC, NDPMP,NDPFC,NNPMP,NNPFC. How can price distortions be avoided in a market

You are given the following information about the economy Personal consumption 6500 Indirect taxes less subsidies 150 State government consumption 500 Rental Income 2000 Change in business inventories 100 Stock appreciation 80 Gross private domestic Investments 1200 Exports 900 Net factor payments -100 Imports 1200 Depreciation 200 Define and calculate the following: GDPMP, GDPFC, GNPMP,GNPFC, NDPMP,NDPFC,NNPMP,NNPFC. How can price distortions be avoided in a market

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterD: The Expenditure-output Model

Section: Chapter Questions

Problem 24CTQ: Exercise D24 Compare two policies: a tax cut on income or an increase in government spending on...

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An economy with no trade and no taxes is described by the following functions: C = 750000+ 0.4Y I = 300000 Compute equilibrium real GDP
The following set of equations describes the economy of a country A, in Africa C = 2000 + 0.75Id consumption equation I = 36000 investment G = 36000 Government Expenditure X = 2550 Exports M = 410 + 0.3Y Import equation T = 100 + 0.25Y Tax equation Compute the equilibrium National Income and imports for the country A Complete the tax multiplier and the Government spending multiplier Compute the equilibrium income and consumption
c = 400 + .60yd I = 200 Ytarget = 1875 a. calculate equilibrium disposable income for the one and two sector models b. calcualte the multipler c. what levels of government spending would be necessary to achieve the target level of income?
The following information is provided about an open economy with a government. Use theinformation to answer the questions that follow:C = 450 + 0.4YI = 350G = 150X = 70Z = 35 + 0.1YT = 0.15YYf = 1550 Q.2.4 Calculate the tax revenue to the government of this country when the economyremains in equilibrium.
When it comes to policies aimed at tackling GHG associated with fossil fuels, Greenand Denniss (2018) advocate the use of supply side policies over demand side policies.What sorts of supply side policies do they advocate and why (from an economic perspective, not a political perspective) do they favour them over demand side policies? PLEASE USE DEMAND/SUPPLY DIAGRAMS
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The table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. Real GDP, Y (billions of 2012 dollars) Consumption expenditure, C (billions of 2012 dollars) Investment, I (billions of 2012 dollars) Government expenditure, G (billions of 2012 dollars) 15 6 5 5 20 10 5 5 25 14 5 5 30 18 5 5 35 22 5 5 The marginal propensity to consume in Syldavia is equal to A. 0.40. B. 5.00. C. 0.80. D. 0.75. E. 0.20.
When it comes to policies aimed at tackling GHG associated with fossil fuels, Greenand Denniss (2018) advocate the use of supply side policies over demand side policies.What sorts of supply side policies do they advocate and why (from an economic perspective, not a political perspective) do they favour them over demand side policies? PLEASE USE DEMAND/SUPPLY DIAGRAM
Consider the following model of an economy operating with fixed wages, prices and interest rates and hasexcess capacity. Adsume all figures are I Zambian kwacha. C=100+0.8yd, T=100+25Y, G=980 and I= 500 Where c is consumption, yd is disposable income, T is taxes net of transformers, G is government spending on goods and services and I is investments. A. Calculate the equilibrium level of national income B. Illustrate your equilibrium in the keyneasian cross diagran C. What is the value of the multiplier D. Is governnent running a surplus or a deficit E. Show the impact of a reduction in government spending by 80 on the equilibrium level of national income F. Illustrate your new equilibrium in the same Keynesian cross diagram as in b.
The following information is provided about an open economy with a government. Use theinformation to answer the questions that follow:C = 450 + 0.4YI = 350G = 150X = 70Z = 35 + 0.1YT = 0.15YYf = 1550 Q.2.4 Calculate the tax revenue to the government of this country when the economy remains in equilibrium.Q.2.5 Calculate what the new equilibrium income should be if the government of this country decides to cancel all taxes, implying the tax rate would now be 0%.Q.2.6 Before the government decreased the tax rate, how much of government spending was required to bring the economy to full employment?
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Personal consumption	6500
Indirect taxes less subsidies	150
State government consumption	500
Rental Income	2000
Change in business inventories	100
Stock appreciation	80
Gross private domestic Investments	1200
Exports	900
Net factor payments	-100
Imports	1200
Depreciation	200