Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter D, Problem 22CTQ
Exercise D22
What should the government do to relieve inflationary pressures if the aggregate expenditure is greater than potential
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I need help with part a from question 1 please
The multinomial logit choice model determines the mode split. The following utilitymodel was developed to predict the H-year mode split between two TAZs 1 and 2:Um: Ui = Bi - 0.05TTi - 0.25COSTiwhereUi = Utility value for mode iBi = Mode specific constant for mode iTTi = Travel time per trip for mode i, in minuteCOSTi = Travel cost per trip per person for mode i, in dollar.The modal attributes areMode Bi TTi COSTiAutoCarpoolTransit2.11.20.01621302.500.800.75Assuming that the total attractions over the entire morning commuting period from TAZ 2 to TAZ 1are 7,000 person trips and each vehicle on average consumes 400 ft2 land in the parking lot (Note:transit is run by an outside transit company, which does not use the parking lots).a) What is the mode share for auto, carpool, and transit between TAZs 1 and 2?b) Assuming that the average auto and carpool occupancies are 1.0 and 3.2, respectively, how manyautos and carpools will use the parking lots?c) The industrial companies that attract…
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Chapter D Solutions
Principles of Economics 2e
Ch. D - Exercise D6 What is on the axes of an...Ch. D - Exercise D7 What does the 45-degree line show?Ch. D - Exercise D8 What determines the slope of a...Ch. D - Exercise D9 What is the marginal propensity to...Ch. D - Exercise D10 Why are the investment function, the...Ch. D - Exercise D11 Why does the import function slope...Ch. D - Exercise D12 What are the components on which the...Ch. D - Exercise D13 Is the equilibrium in a Keynesian...Ch. D - Exercise D14 What is an inflationary gap? A...Ch. D - Exercise D15 What is the multiplier effect?
Ch. D - Exercise D16 Why are savings, taxes, and imports...Ch. D - Exercise D17 Will an economy with a high...Ch. D - Exercise D18 How do economists use the multiplier?Ch. D - Exercise D19 What does it mean when the aggregate...Ch. D - Exercise D20 Which model, the AD/AS or the AE...Ch. D - Exercise D21 What are some reasons that the...Ch. D - Exercise D22 What should the government do to...Ch. D - Exercise D23 Two counties are in a recession....Ch. D - Exercise D24 Compare two policies: a tax cut on...Ch. D - Exercise D25 What role does government play in...Ch. D - Exercise D26 If there is a recessionary gap of 100...Ch. D - Exercise D27 What other changes in the economy can...
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- not use ai pleasearrow_forwardNot use ai pleasearrow_forwardThe accompanying graphs show the production possibilities frontiers (PPFS) for Italy and India for their domestic production of olives and tea. Without trade, assume that each country is consuming olives and tea at point a. Italy 12 0 Olives (millions of tons) 6 + 2 PPF 0 10 20 30 40 Tea (millions of tons) India 12 10 10 Olives (millions of tons) 60 4 2 0 a PPF 10 20 30 40 50 60 Tea (millions of tons)arrow_forward
- The accompanying graphs show the production possibilities frontiers (PPFS) for Italy and India for their domestic production of olives and tea. Without trade, assume that each country is consuming olives and tea at point a. Italy 12 0 Olives (millions of tons) 6 + 2 PPF 0 10 20 30 40 Tea (millions of tons) India 12 10 10 Olives (millions of tons) 60 4 2 0 a PPF 10 20 30 40 50 60 Tea (millions of tons)arrow_forward1. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2019, the poverty line is set at an annual income of $40,850 for an individual. Share of Total Income in Perkopia (Percent) Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 2001 4.0 10.0 16.5 23.0 46.5 2007 3.8 9.7 15.0 22.5 49.0 2013 3.4 8.8 14.8 22.0 51.0 2019 3.0 8.2 14.0 21.8 53.0 The data in the table suggest that there was income inequality from 2001 to 2019.arrow_forward2. Understanding the U.S. poverty line The following table shows the U.S. poverty thresholds for 2021 by size of family and number of related children under the age of 18. All figures are in dollars. For example, a family with two adults and three children is considered to be living in poverty if the family's income in 2021 is below $32,338. Use the table to answer the questions that follow. Size of Family Unit One person (unrelated individual) None One Related Children under 18 Years Two Three Four Five Under 65 years 65 years and over Two persons Households under 65 years Households 65 years and over Three persons Four persons Five persons Six persons Seven persons Eight persons Nine persons or more 14,097 12,996 18,145 18,667 16,379 18,606 21,196 21,811 21,831 27,949 28,406 27,479 27,575 33,705 34,195 33,148 32,338 31,843 38,767 38,921 38,119 37,350 36,207 35,529 44,606 44,885 43,925 43,255 42,009 40,554 49,888 50,329 49,423 48,629 47,503 46,073 60,012 60,303 59,501 58,828 57,722…arrow_forward
- The accompanying graphs show the production possibilities frontiers (PPFS) for Italy and India for their domestic production of olives and tea. Without trade, assume that each country is consuming olives and tea at point a. Use the information provided in the graphs to answer the following questions. Olives (millions of tons) Italy 12 10 8 60 2 a PPF 0 10 20 30 40 Tea (millions of tons) India 12 Olives (millions of tons) 4 6 Co 10 2 a 0 PPF 10 20 30 40 50 60 Tea (millions of tons)arrow_forwardQUESTION 4 (11 MARKS) A group of grocery stores will buy 80 units of apples from the wholesaler if the price is $320 and 120 units if the price is $280. The supplier will supply 50 units if the price is $100, and 75 units if the price is $150. i. Write the demand and supply functions. (4 marks) ii. Find the market equilibrium. (3 marks) 111. If the government impose a tax of $30. Find the new market equilibrium. (4 marks)arrow_forwardThe accompanying graphs show the production possibilities frontiers (PPFS) for Italy and India for their domestic production of olives and tea. Without trade, assume that each country is consuming olives and tea at point a. Use the information provided in the graphs to answer the following questions. Olives (millions of tons) Italy 12 10 8 60 2 a PPF 0 10 20 30 40 Tea (millions of tons) India 12 Olives (millions of tons) 4 6 Co 10 2 a 0 PPF 10 20 30 40 50 60 Tea (millions of tons)arrow_forward
- The U.S. Census Bureau conducts annual surveys to obtain information on the percentage of the voting-age population that is registered to vote. Suppose that 387 employed persons and 359 unemployed persons are independently and randomly selected, and that 243 of the employed persons and 202 of the unemployed persons have registered to vote. Can we conclude that the percentage of employed workers (P1), who have registered to vote, exceeds the percentage of unemployed workers (P2), who have registered to vote? Use a significance level of a = 0.01 for the test. Step 2 of 6: Find the values of the two sample proportions, p₁ and 2. Round your answers to three decimal places.arrow_forwardPlentilandia is a country facing a recession. Plentilandian consumers become pessimistic about future economic conditions and reduce their total consumption. Use diagrams to answer the following: a) Assume marginal propensity to consume is high in Plentilandia. What is the impact on consumption, investment output, interest rate and the trade balance? b) Assume the marginal propensity to consume foreign goods and services is high in Plentilandia. What is the impact on consumption, investment output, interest rate and the trade balance?arrow_forwardUsing the fundamental equation of the asset approach to exchange rates for two countries, Home and Foreign, show graphically and explain the effect on expected rate of return on Home and Foreign deposits and on the spot exchange rate if the interest rate on Foreign deposits remains unchanged, Home interest rate decreases, and the expected exchange rate is unchanged.arrow_forward
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