1 ZZ ZZ i pvt Y=ZZ 0-C₁T+I+G+NX NX 45° Yo Y i10y iff www IS W 0 NX Yo Y Wo NX Suppose that z falls just as in #3, but this time assume that the effect of W is the driver of the demand side impact from WJH. Show what happens in the full model, including the PC equation. Yo LM Uo+jipt,0 Y PS iff www UIP iff WS u+lipt Eo E $ PC: πT = m+y+B+ E -9A)+(-au-αiptjipt) + (z − 1) + zg₁+л²) 10
1 ZZ ZZ i pvt Y=ZZ 0-C₁T+I+G+NX NX 45° Yo Y i10y iff www IS W 0 NX Yo Y Wo NX Suppose that z falls just as in #3, but this time assume that the effect of W is the driver of the demand side impact from WJH. Show what happens in the full model, including the PC equation. Yo LM Uo+jipt,0 Y PS iff www UIP iff WS u+lipt Eo E $ PC: πT = m+y+B+ E -9A)+(-au-αiptjipt) + (z − 1) + zg₁+л²) 10
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 26CTQ: What is the relationship between price elasticity and position on the demand curve? For example, as...
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