Suppose Rob, an avid golfer, spent a total of $3000 on green fees for the 100 rounds of golf he played in 2018 and a total of $2800 on green fees for the 100 rounds of golf he played (on the same courses) in 2019. Rob's nominal consumption of golf in 2019 was _____ his nominal consumption level in 2018 and his real consumption of golf in 2019 was _____ his real consumption level in 2018.
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Suppose Rob, an avid golfer, spent a total of $3000 on green fees for the 100 rounds of golf he played in 2018 and a total of $2800 on green fees for the 100 rounds of golf he played (on the same courses) in 2019. Rob's nominal consumption of golf in 2019 was _____ his nominal consumption level in 2018 and his real consumption of golf in 2019 was _____ his real consumption level in 2018.
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- am. 240.In the country of Marzipana, disposable income in Year 1 was $56,000 million and in Year 2 was $60,000 million: It has been observed that each time disposable income changes in this country by $100, consumption changes by $70. Using this information compute the change in consumption from Year 1 to Year 2. A)Consumption increased by $2,800 million in Year 2. B)Consumption decreased by $2,800 million in Year 2. C)Consumption increased by $5,714 million in Year 2. D)Consumption increased by $4,000 million in Year 2. E) Consumption decreased by $4,000 million in Year 2.Calculate the value of change in consumption if change in income is $2200 and MPC is 0.34
- The gross domestic product (GDP) of Country A is $2 trillion in year 1. What value of investment will increase its GDP to $4.5trillion in year 2? (present your result in the nearest billion dollars, i.e., no decimal places) Assume that the average disposable income and consumption (in real $) of this country's citizen are provided in the table below. Year Income Consumption 1 60,000 50,000 64,726 51,259Q.1.2 Should a measure of wealth be included in the consumption function and, if so, what should that measure be? Has wealth in fact been found to be an important determinant of consumer expenditure?The accompanying graph represents the aggregate consumption function for the small island nation of Pineapple Paradise. The people of Pineapple Paradise expect their future disposable income to increase. Use the graph to show an increase in consumption expenditures. What is the new level of aggregate autonomous consumer spending? 1 $1000 2 $3000 3 $2000 4 $4000
- Question 4 Not yet anwered Points out of Plag question Suppose Rob, an avid golfer, spent a total of $2000 on green fees for the 50 rounds of golf he played in 2018 and a total of $1800 on green fees for the 60 rounds of golf he played (on the same courses) in 2019. Rob's nominal consumption of golf in 2019 was, and his real consumption of golf in 2019 was, his nominal consumption level in 2018 his real consumption level in 2018. Select one: O A. greater than; less than O B. less than; greater than O C. the same as; greater than O D. greater than; the same as O E. greater than; greater than O F. less than; less than O G, less than; the same as O H. the same as; less than p.the same as; the same asplease answer in text form and in proper format answer with must explanation , calculation for each part and steps clearlyIn the future report of U.S. Gross Domestic Product (GDP) for Quarter 1 of 2023, which of the following would not be an example of an expenditure that would contribute to an increase in the level of GDP in Q1 of 2023? [note: focus on the direct impact of each of the choices below] Group of answer choices U.S. household spending on home appliances increases by 0.5% in 2023:Q1 Business investment spending on industrial equipment rises by 2% in 2023:Q1 U.S. Federal government interest payments rise by $120 billion in 2023:Q4 U.S. consumer spending on domestic air travel increases by 8% in 2023:Q1. None of the choices listed because all would contribute to an increase in real GDP in 2023:Q1.
- Assume the following consumption schedule: C= 20 + 0.9 Y, where C is consumption and Y is disposable income. At $1,100 level of disposable income: (show your cacuators) a. Find out the level of saving and consumption? b. How much are the APC and APS (to one decimal place)? c. If dispr able income increased to $2,800 and saving is $345 now. What are MPC and MPŚ (to two decimal places)?Suppose Jade, an avid cinephile, spent a total of $2000 on tickets for the 200 films she saw in 2017 and a total of $2200 on tickets for the 200 films she saw (at the same theater) in 2018. Jade's nominal consumption of movies in 2018 was real consumption of movies in 2018 was, her nominal consumption level in 2017. Jade's her real consumption level in 2017. Select one: A. greater than; less than OB. less than; greater than O C. the same as; greater than O D. greater than; the same as O E. greater than; greater than i OF. less than; less than O G. less than; the same as O H. the same as; less than O1, the same as; the same asSuppose that the residents of Greenland play golf incessantly. In fact, golf is the only thing they spend their money on. They buy golf balls, clubs and tees. In 2019, they bought 1,000 golf balls, $2.00 each, 100 clubs for $50.00 each, and 500 tees for $0.10 each. In 2020, they bought 1,000 golf balls for $2.50 each, 100 clubs for $75.00 each, and 500 tees for $0.12 each. What was the CPI for each year assuming 2019 serves as the base year?