Questions
Household purchases of durable goods $1,108 Household purchases of nondurable goods $702 Household purchases of non-education...

Household purchases of durable goods

$1,108

Household purchases of nondurable goods

$702

Household purchases of non-education services

$203

Household purchases of education services

$302

Household purchases of new housing

$816

Purchases of capital equipment

$333

Inventory changes

$75

Purchases of new structures

$267

Depreciation

$401

Local government spending on goods and services

$236

State government spending on goods and services

$419

Federal government spending on goods and services

$1,182

Transfer payments

$707

Foreign purchases of domestically produced goods

$217

Domestic purchases of foreign goods

$129

Please show which are which above

5.   Refer to the above table and answer the following questions:

      Consumption expenditure is $________

      Investment expenditure is $________

      Government purchases of goods and services is $__________

      Net exports is $_____________

      GDP is $_________________

In: Economics

Liat 3 mental issues that you perceive to be men's issues? Why are these perceived to...

Liat 3 mental issues that you perceive to be men's issues? Why are these perceived to be men's issues? How might these issues affect women directly or indirectly?

In: Economics

Question 2 Contrast “New-Classical ” and “New Keynesian” models on the relationship of money and output...

Question 2

  1. Contrast “New-Classical ” and “New Keynesian” models on the relationship of money and output in the short run.
  1. Appraise the following statement,
  1. “Both new Keynesian and new classical economists recommend against using the stabilisation policy to reduce output fluctuations”.
  2. “Monetary policies may not able to fine tune the economy due to long and variable lags”.

In: Economics

1. Assume that a country's production function is Y = AK0.2L0.8. Population grows at 4 percent...

1. Assume that a country's production function is Y = AK0.2L0.8. Population grows at 4 percent and capital depreciates at 2 percent per year. Technology grows at 1 percent a year. Capital is paid its marginal product. A=100 and savings is 20%.

a) What is the steady-state level of capital per effective worker?

b) At the steady-state what is the marginal product of capital?

c) At the steady-state what are the income per effective worker, consumption per effective worker, and investment per effective worker?

In: Economics

14. Betty consumes leisure and food and both are normal goods. a. Show graphically what would...

14. Betty consumes leisure and food and both are normal goods. a. Show graphically what would happen to the number of hours that Betty will work if she sees an increase non-labor income. b. Show with a graph and explain how Betty’s hours worked can decrease if she sees an increase in wages.

In: Economics

Consider two countries, Violet (Home) and Pink (Foreign), which can produce apples and lemonade. There is...

Consider two countries, Violet (Home) and Pink (Foreign), which can produce apples and lemonade. There is only one factor of production (labor). In order to produce a gallon of lemonade, Violet workers need 5 hours, while Pink workers need 10 hours. In an hour, Violet workers can produce 6 pounds of apples, while Pink workers can produce only 2 pounds of apples. Markets are perfectly competitive. Violet’s labor endowment is

L = 60,000 hours, while Pink’s labor endowment is L*= 90,000 hours.

a) What are the unit labor requirements for each product (apples and lemonade) in each country?

b) What is the opportunity cost of a gallon of lemonade in terms of pounds of apples in Violet? And in Pink?

c) What country has a comparative advantage in which good and why?

d) Draw the production possibility frontiers for Violet and Pink, with lemonade on the horizontal axis. What is the slope in Violet? And in Pink?

e) Draw the world relative supply, with the relative price of lemonade in terms of apples on the vertical axis, and the relative supply curve on the horizontal axis

f) Draw a world relative demand curve, crossing the relative supply curve at a point such that the relative price of lemonade in terms of apples is 20 pounds of apples for one gallon of lemonade. What good (or goods) will Violet produce at this price? What good (or goods) will Pink produce at this price?

g) Draw the consumption possibility frontiers for Violet and Pink (in two separate graphs) when there is international trade and the relative price of lemonade is 20 pounds of apples (as in the question above). Are there gains from trade for Violet? Why or why not? And for Pink? Why or why not?

In: Economics

Consider the following macroeconomy. All amounts are in millions (m.) of $; T=net taxes, which are...

Consider the following macroeconomy. All amounts are in millions (m.) of $; T=net taxes, which are fixed:

C = 750 + .8 YD

                                                            I = 1200

                                                            G = 250

                                                            T = 150

                a. This country’s Parliament passes legislation to have a balanced-budget amendment. What will be the value

             of this country’s balanced-budget multiplier (BBM)? Explain. Calculate the changes in the following variables if

             this country’s Parliament increases its G to $550 m: the GBD (govt budget deficit); eqm Y; and (net) taxes, T?    

             Show what this G increase does to the Z-Y space graph.

                b. What is meant by the “Paradox of Thrift” (POT), aka the Paradox of Saving? Why is it a paradox? Go back to the original eqm of part a. Now prove using multiplier analysis that the POT holds in this economy if co falls by $200 m. (ceteris paribus, cet. par.) by either calculating S private (Sp) at the initial eqm Y and then calculate Sp again after the attempt to increase Sp OR prove that the POT occurs using the appropriate math. Show what     happens (cet. par.) using the Z-Y space graph.

In: Economics

What are some of the criteria for forecast evaluation? What is Theil’s statistic?

What are some of the criteria for forecast evaluation? What is Theil’s statistic?

In: Economics

In 2-3 paragraphs, respond to the following - Do you think that minimum wage laws affect...

In 2-3 paragraphs, respond to the following - Do you think that minimum wage laws affect overall poverty? Explain.

In: Economics

4. firms that make direct for foreign investment must evaluate such opportunities requiring capital investment very...

4. firms that make direct for foreign investment must evaluate such opportunities requiring capital investment very differently from the methods used to evaluate domestics investments. Describes theses differences from both a capital budgeting and country risk perspective.

In: Economics

Using Keynesian analysis, suppose the economy of Morrisville can be described by the following (all amounts...

Using Keynesian analysis, suppose the economy of Morrisville can be described by the following (all amounts are in millions of dollars):

Ca = 15 + .8(Y - 25)

Ia = 25

Ga = 25

X-M = 5

(a) The Marginal Propensity to Consume is .8. Explain IN WORDS what this means.

(b) In this case, with the MPC = .8, what is the value of the multiplier?

(c) Solve for the level of equilibrium income. In words, what does equilibrium in this context mean?

(d) Suppose the full employment or potential level of income is 50 more than your equilibrium calculation in part C). How large of increase in government spending is necessary to reach full employment? How large of tax decrease? Why do they differ?

In: Economics

In order for integration with other physicians to be successful, what person is needed to arrange...

In order for integration with other physicians to be successful, what person is needed to arrange the financing of capital needs and to provide administrative leadership?

A. Executive physician

B. Physician liaison

C. Managing physician

D. Physician activist

In: Economics

How would you characterize the major international trade flows unfolding in today’s global economy???

How would you characterize the major international trade flows unfolding in today’s global economy???

In: Economics

western civilization identify in 50 to 75 words four specific ideas that make up the political...

western civilization

identify in 50 to 75 words four specific ideas that make up the political ideology of Fascism, in the years between the World Wars.

In: Economics

Dollar stores like Dollar General do not pay customers’ transportation costs. Nonetheless, such stores have the...

  1. Dollar stores like Dollar General do not pay customers’ transportation costs. Nonetheless, such stores have the incentive to minimize customers’ transportation costs. Why?

In: Economics