QUESTION 8 Which of the following are positive statements? (A) The introduction of taxes in 2018 will increase firms' profits (B) Spending by small businesses should be tax exempt (C) Cigarettes ought to be taxed more than sugary drinks A. None of the statements are positive B. Statement A, only C. Statement A and C, only D. Statement A and B, only

Aggregate Variables Value (in billions of dollars) in the base year Consumption spending $900 Investment spending $400 Government spending $200 Transfer payments $60   The marginal propensity to save is equal to 0.4 and there are no exports or imports,   (a) Calculate the real GDP in this country, Show your work   (b) Calculate the marginal propensity to consume Show your work.   (c) Suppose that the government increases spending from $200 billion to $300 billion   (i) Calculate the maximum change in real GDP. Show your work   (ii) Given the change in real GDP in part (c)(i), calculate the maximum level of the new equilibrium real GDP. Show your work   (d) Suppose that taxes decrease by $100 billion. Will the maximum change in real GDP be larger than, smaller than, or equal to the change in part (c)(i)? Explain.

Economics: Public Economics Question: 1 Over long periods of time, the present discounted value of tax revenue must be greater than or equal to the present discounted value of government expenditures. This statement illustrates the concept of a. income equality b. capital markets c. intergenerational equity d. intertemporal budget constraints   Question: 2 Why do some budget modelers criticize the use of static scoring?a. The impact of government policy on the economy is not perfectly understood. b. It is unreasonable to assume that government policy does not affect the size of the economy. c. most policy does not result in individuals changing behavior.d. government policy only changes distribution of resources, not their availability.   Question: 3 If the economy is in recession, the government budget deficit is ___ the cyclically- adjusted deficit. a. the same asb. unrelated toc. smaller than (in absolute value) d. greater than (in absolute value)   Question: 4 According to…

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