Aggregate Demand I: Building the IS LM Model-End of Chapter Problem Although our development of the Keynesian cross in this chapter assumes that taxes are a fixed armunt, most countries levy some taxes that rise automatically with national income. Let's represent this type of tax system by writing tax revenue (7) as T=7*+tY, where Y is income, 7 is a lump-sum tax, and t is the marginal tax rate. When income rises by $1, the value of new taxes collected is tx$1. Use this information to answer the next three questions. a. How does this type of tax system change the way consumption responds to changes in GDP? The effect of an increase in income on consumption is b. In the Keynesian cross, how does this tax system alter the government-purchases multiplier? The government-purchases multiplier becomes In the IS LM model, how does this tax system alter the slope of the IS curve? Activat Go to Set tion in the interest rate now has a impact on real output, making The IS curve

Aggregate Demand I: Building the IS LM Model-End of Chapter Problem Although our development of the Keynesian cross in this chapter assumes that taxes are a fixed armunt, most countries levy some taxes that rise automatically with national income. Let's represent this type of tax system by writing tax revenue (7) as T=7*+tY, where Y is income, 7 is a lump-sum tax, and t is the marginal tax rate. When income rises by $1, the value of new taxes collected is tx$1. Use this information to answer the next three questions. a. How does this type of tax system change the way consumption responds to changes in GDP? The effect of an increase in income on consumption is b. In the Keynesian cross, how does this tax system alter the government-purchases multiplier? The government-purchases multiplier becomes In the IS LM model, how does this tax system alter the slope of the IS curve? Activat Go to Set tion in the interest rate now has a impact on real output, making The IS curve

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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3-The IT functions do not directly support the business objectives of an organization Select one True False
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. If the tenants have the right to be free of loud music enforced through aproperty rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. ZeroB. OneC. TwoD. ThreeE. It depends on transaction costs
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A79. Which of the following is the most likely consequence of implementing the ‘Unified Payments Interface (UPI)’? (a) Mobile wallets will not be necessary for online payments. (b) Digital currency will totally replace the physical currency in about two decades. (c) FDI inflows will drastically increase. (d) Direct transfer of subsidies to poor people will become very effective.
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5. It is a common practice in lending companies that the interest is deducted at the time money is borrowed. Mr. Anito applied a loan amount of P 50,000 with an interest rate of 16% per year. During the time he received the money, the 16% interest is being deducted and he received only P 42,000. At the end of one year, Mr. Anito has to pay P 50,000. What is the actual rate of interest?
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ONLY NEED QUESTIONS 5,6,8,10 and 13
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