You are given the information of three sector economic model: C = 300+ 0.8YD 1 = 100 G = 200 T=50 What is the income equilibrium? Select one: DA. RM2000 OB RM1000 QC RM2800 D. RM1800
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- Q3: Consider the national income model: Y = C + I0 + G0 + (X0 − M)............. (1) C = a + byd, (a > 0,0 < b < 1)....... (2) Yd = Y − T..................................... (3) T = T0 + ty.................................... (4) M = M0 + my................................ (5) Where: (T) = taxes, (t) = income tax rate Identify: 1/ Endogenous variable(s). 2/Exogenous variable(s). 3/ Conditional equation. 4/Behavioral equations. 5/ Definitionalequation. 6/ Constants., give the Economic meaning of them. 7/ Coefficients. give the Economic meaning of them.Consider the following national income model : Y = C + I + Go C = 102 + 0.6Y 3.3000000000000003I = 253 + 0.21Y Where Go = 184 (i) Identify the exogenous variable/s. if there are more than one variable, separate each variable with a comma Convert this system of equations in matrix form. (ii) What is the determinant of the coefficient matrix? (Give your answer to 'three' decimal places, if possible) (Note: you can use either inversion or Cramer's rule to find the values of Y, C, and I.) (iii) What is the equilibrium value of Y? (Give your answer to 'three' decimal places, if possible) (iv) What is the equilibrium value of C? (Give your answer to 'three' decimal places, if possible) (v) What is the equilibrium value of I? (Give your answer to 'three' decimal places, if possible)National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal Income
- Define simultaneous causality bias. Explain the potential for simultaneouscausality in a study of the effects of high levels of bureaucratic corruptionon national income?Consider a macroeconomy where the current population is 800 thousand people. Gross domestic private investment is constant $2500 million while consumer expenditure is described by the equation: C = 580+ 0.8DI. The government is fairly active, with a total expenditure of $2000 million and net taxes of $2550 million. Further investigation of the macroeconomy reveals that imports are constant at $3000 million while exports are constant at $2500 million. Currently, the overall price level (GDP deflator) is 118 and the potential GDP level is $13.5 billion. What is the current equilibrium level of real GDP? (report your answer at 2 decimal places and in millions of dollars) 1. What is the current equilibrium level of real GDP 2. what is the current real GDP per capita? 3. what is the value gap?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?
- Find the equilibrium level of national income in the basic Keynesian macroeconomicmodel. C = 40 + 0.5YI = 200Using a three sector open circular flow of income model: a. Explain what is meant by equilibriumb. Explain the conditions for the circular flow of income to be in equilibriumWhat type of solutions do you get in Samuelson´s Model of national income when the parameters satisfy αγ= 1?
- Exercise D24 Compare two policies: a tax cut on income or an increase in government spending on roads and bridges. What are both the short-term and long—term impacts of such policies on the economy?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.Consider a macroeconomy where the current population is 800 thousand people. Gross domestic private investment is constant $2500 million while consumer expenditure is described by the equation: C = 580 +0.8DI. The government is fairly active, with a total expenditure of $2000 million andnet taxes of $2550 million. Further investigation of the macroeconomy reveals that imports are constant at $3000 million while exports are constant at $2500 million. Currently, the overall price level (GDP deflator) is 118 and the potental GDP level is $13.5 billion.(Question4 of 7)Now, consider that the government decreases taxes by 7.5%. While the change had a direct impact on the economy, other market conditions led to an unanticipated change in the economy. Specifically, imports decrease by 7.5%. At the same time, given the birth rate, mortality rate, and net migration, the economy experienced a 0% change in its population.1. As a result of these events, what is the current equilibrium level of GDP?…