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 $_________________
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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?
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Question 2
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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?
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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.
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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?
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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.
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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?
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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
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How would you characterize the major international trade flows unfolding in today’s global economy???
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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.
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Dollar stores like Dollar General do not pay customers’ transportation costs. Nonetheless, such stores have the incentive to minimize customers’ transportation costs. Why?
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