C = 160 + 0.7YD, T= 100, I= 150, G= 150, NX = 100 – 0.1Y. a. What is disposable income (YD)? b. What is equilibrium GDP (Y)? What is consumption spending at the equilibrium (C)? d. What is the value of multiplier? e. If government spending increases by 100 units how much does equilibrium income change? f. If government increases both taxes and government spending by 100 units how much does equilibrium income change? g. If this was a closed economy (NX=0), what would be the value of multiplier? Compare with the value you obtained previously for the open economy, and comment on why they are different.

The outbreak of COVID-19 adversely attacks most economies. Some economists e/2 argue that the impacts on the macroeconomy mainly come from (i) the reduction in consumption and investment appetite, while others believe that the impacts mainly come from (ii) the immediate destruction of the supply-chain and production. Suppose two quarters since the outbreak of the COVID-19, changes in selected macroeconomic data of Country X can be summarized as below: Last year This year Annualized economic growth rate 4% -6% Unemployment rate 5% 8% Inflation rate 2% 5% Using an AD-AS model, explain whether argument (i) or (ii) above fits better to а. the case of Country X. b. Given your answer in (a), briefly discuss one plausible short-run dilemma facing the central bank of Country X.

Course: Introduction to Microeconomics Topic: Intertemporal Consumption DecisionsA consumer makes decision to consume in this year and next year. This year she has an income of M1 = $ 1.5 million and next year her income will be M2 = $ 2.75 million. Interest rate is 10%. Her intertemporal preferences are represented by function U(c1, c2) = c1*c2, whose intertemporal marginal rate of substitution is IMRS = c2/c1.a) Find and graph Budget Constraintb) Find and graph  optimal consumption basket and indicate whether the consumer SAVES or BORROWS in the FIRST YEAR.c) Indicate whether following statement is true or false: "Any increase in interest rate will cause a decrease in consumer's welfare" Justify.d) If next year's income is maintained, how much would this year's income have to be for consumer to neither save nor borrow money at 10% interest rate?e) How much would interest rate have to be for consumer to consume exactly her initial endowment          (M1 = $ 1.5 million and M2 = $ 2.75…

Question 05: Benjamin Franklin coined the phrase "Time is Money", and spelt out the associated opportunity cost reasoning in his "Advice to a Young Tradesman" (1746): "Remember that Time is Money. He that can earn Ten Shillings a Day by his Labour, and goes abroad, or sits idle one half of that Day, tho' he spends but Sixpence during his Diversion or Idleness, ought not to reckon That the only Expence; he has really spent or rather thrown away besides." Shillings Fill in the blank of the number of Shillings in the above quote. Hint: think of shillings as dollars and sixpence as "pocket change" - what happens if you decide to take the afternoon off from work? A) ten shillings in lost wages B) twenty shillings in lost wages C) one shillings in lost wages D) five shillings in lost wages

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Suppose the following transactions occur during the current year: 1. Kevin orders 50 cases of mezcal from a Mexican distributor at a price of $90 per case. 2. A U.S. company sells 300 spark plugs to a Korean company at $5.00 per spark plug. 3. Rajiv, a U.S. citizen, pays $900 for a TV he orders from Cosmart (a U.S. company).   Complete the following table by indicating how the combined effects of these transactions will be reflected in the U.S. national accounts for the current year. Hint: Be sure to enter a “0” if none of the transactions listed are included in a given category and to enter a minus sign when the balance is negative.   Amount (Dollars) Consumption   Investment   Government Purchases   Imports   Exports   Net Exports   Gross Domestic Product (GDP)

based on the following diagram CID CIC, CIC S I 18. In autarky, the economy would be in general equilibrium at point (a) I. (b) D. (c) E. (d) F.

True/False: Every point on the IS curve represents an equilibrium in the Goods and Service market (i.e. the output market). O True False

Homework 8 Spring 2024: 1. Complete the table below Quantity TCC TVC TC MC AVC ATC 01234561 12 0 -- -- -- 12 20 12 12 46 16 12 20 12 20 12 22 7 12 24 8 12 26 9 12 28 10 12 30 11 12 32 12 12 34 2. Using the table above, create a graph with Quantity on the horizontal axis and dollars on the vertical axis showing the curves for MC, AVC, and ATC. Make 3 copies of this graph for use in problems 3, 4, and 3. Suppose that the firm is a price taking firm competing in a market where the equilibrium price of the product is $18 per unit. Using one of the graphs you copied from question 2, draw in the firm's marginal revenue, average revenue, and market price line. Assuming the firm produces the quantity where MR=MC, designate rectangles for: total revenue, total cost, and total variable cost. Explain, in terms of the relative sizes of the total revenue and total variable cost rectangles, why the firm should continue to operate in the short-run. Designate on the graph the area that represents the…

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