please answer number 3 using "652" as the digits. help needed asap. thanks. Consider the last three digist of your ID number. We label them as A, B, C. For example, suppose your ID numberis 123 456 789, then A=7, B=8, C=9, and AB=78, CA=97, etc.1. Consider the annual budget constraint of a government. The primary deficit (measured as the difference betweengovernment expenditure and fiscal revenues as a share of GDP) is (C+2) percentage points. Suppose GDP grows atthe rate (BC/10+1) in percentage, and the interest rate is (A/2+1) in percentage. The debt to GDP ratio in 2020 is(АВС/3).(a) Write down the government budget constraint and express it in terms of variables measured as a fraction ofGDP.(b) Compute and write down the value of the debt to GDP ratio for 2021, 2022 and 2023.(c) Is fiscal policy sustainable in your case? Justify your answer.(d) Use your favourite spreadsheet (Excel, Calc, etc) and plot 200 years of debt to GDP starting at ABC/2 andstarting at ABC/10.2. Consider an individual whose preferences are: In(ct) + Bln(ct+1). The discount factor B is equal to (C+1)/10.Your income the first period is ABC, and your income the second period is CBA. The interest rate is (A+3)/2 inpercentage.(a) Write down the maximization problem for this individual.(b) Solve the maximization problem and find current consumption, future consumption, and savings.(c) How would your answer change if the interest rate falls or increases by 50%? (You need to address both cases.)(d) Suppose now that the government imposes a tax of 20% in the first period and a tax of 40% in the second.What would be the impact of that policy on the individual's decisions?3. Write a short essay (around 2 pages without tables/figures, at most 4 with tables/figures) describing the finances(revenues and expenditures) of the US state assigned to you. In order to know what state is assigned to you, takeyour ID and do (BC+1)/2, and round the number to the closest integer. Given your number use the following list:1. Alabama, 2. Alaska, 3. Arizona, 4. Arkansas, 5. California, 6. Colorado, 7. Connecticut, 8. Delaware, 9.Florida, 10. Georgia, 11. Hawaii, 12. Idaho, 13. Illinois, 14. Indiana, 15. Iowa, 16. Kansas, 17. Kentucky, 18.Louisiana, 19. Maine, 20. Maryland, 21. Massachusetts, 22. Michigan, 23. Minnesota, 24. Mississippi, 25. Missouri,26. Montana, 27. Nebraska, 28. Nevada, 29. New Hampshire, 30. New Jersey, 31. New Mexico, 32. New York, 33.North Carolina, 34. North Dakota, 35. Ohio, 36. Oklahoma, 37. Oregon, 38. Pennsylvania, 39. Rhode Island, 40.South Carolina, 41. South Dakota, 42. Tennessee, 43. Texas, 44. Utah, 45. Vermont, 46. Virginia, 47. Washington,48. West Virginia, 49. Wisconsin, 50. Wyoming.[REMEMBER TO CITE YOUR SOURCES WITH APPROPRIATE REFERENCES!!]

3. Write a short essay (around 2 pages without tables/figures, at most 4 with tables/figures) describing the finances (revenues and expenditures) of the US state assigned to you. In order to know what state is assigned to you, take your ID and do (BC+1)/2, and round the number to the closest integer. Given your number use the following list: 1. Alabama, 2. Alaska, 3. Arizona, 4. Arkansas, 5. California, 6. Colorado, 7. Connecticut, 8. Delaware, 9. Florida, 10. Georgia, 11. Hawaii, 12. Idaho, 13. Illinois, 14. Indiana, 15. Iowa, 16. Kansas, 17. Kentucky, 18. Louisiana, 19. Maine, 20. Maryland, 21. Massachusetts, 22. Michigan, 23. Minnesota, 24. Mississippi, 25. Missouri, 26. Montana, 27. Nebraska, 28. Nevada, 29. New Hampshire, 30. New Jersey, 31. New Mexico, 32. New York, 33. North Carolina, 34. North Dakota, 35. Ohio, 36. Oklahoma, 37. Oregon, 38. Pennsylvania, 39. Rhode Island, 40. South Carolina, 41. South Dakota, 42. Tennessee, 43. Texas, 44. Utah, 45. Vermont, 46. Virginia, 47. Washington, 48. West Virginia, 49. Wisconsin, 50. Wyoming. [REMEMBER TO CITE YOUR SOURCES WITH APPROPRIATE REFERENCES!!]

3. Write a short essay (around 2 pages without tables/figures, at most 4 with tables/figures) describing the finances (revenues and expenditures) of the US state assigned to you. In order to know what state is assigned to you, take your ID and do (BC+1)/2, and round the number to the closest integer. Given your number use the following list: 1. Alabama, 2. Alaska, 3. Arizona, 4. Arkansas, 5. California, 6. Colorado, 7. Connecticut, 8. Delaware, 9. Florida, 10. Georgia, 11. Hawaii, 12. Idaho, 13. Illinois, 14. Indiana, 15. Iowa, 16. Kansas, 17. Kentucky, 18. Louisiana, 19. Maine, 20. Maryland, 21. Massachusetts, 22. Michigan, 23. Minnesota, 24. Mississippi, 25. Missouri, 26. Montana, 27. Nebraska, 28. Nevada, 29. New Hampshire, 30. New Jersey, 31. New Mexico, 32. New York, 33. North Carolina, 34. North Dakota, 35. Ohio, 36. Oklahoma, 37. Oregon, 38. Pennsylvania, 39. Rhode Island, 40. South Carolina, 41. South Dakota, 42. Tennessee, 43. Texas, 44. Utah, 45. Vermont, 46. Virginia, 47. Washington, 48. West Virginia, 49. Wisconsin, 50. Wyoming. [REMEMBER TO CITE YOUR SOURCES WITH APPROPRIATE REFERENCES!!]

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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