An economy is defined by the following equations: C=500+0.8(Y-T) 1=300+0.3Y X=0.3Y* IM=0.3Y T=1000, G=2000, Y*=5000 The equation of the demand for domestic goods (Z) is: (A) Z=3500+0.5Y (B) Z-4000+0.8Y Z=3500+0.8Y D) none is correct
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- The economy of Godzillaland is represented by the following:C=50+0.25Y d , T=1000, G=1000, I=100. (d) If the government increases taxes and spending by 50 what is the new equilibrium level of output? (e) Calculate the equilibrium level of output in case where taxes depend on income according to the following: T=-25+0.125Y.Common Property and Public Goods Problem To water their vine yards, a group of farmers in Cyprus drill identical wells and draw irrigation water from an underground aquifer. This aquifer has a natural maximum recharge rate of 340,000 liters per day (in others words, a maximum of 340,000 liters of water per day filter into this underground reservoir from natural sources). The table below shows the relationship between the daily total water output (total product) and the number of wells operating. Number of Wells Operating Total Water Output (in 1000s of Liters/Day) Total Revenue (TR) Total Cost (TC) Average Revenue (A VR) Profit 0 0 0 0 0 0 10 100 20 200 30 280 40 340 50 380 60 400 70 400 80 380 90 340 (a) The cost of operating a well is €60/day and the value of water to each farmer is €0.1/liter. Using this information and the…(3 points) When sold for $259,000.00, Ferraris have an annual supply of 6758 vehicles and an annual demand of 6691 vehicles. When their price increases to $279,000.00, the annual supply increases to 6913, and the demand decreases to 6010 billion gallons. (a) Assuming that the supply and demand equations are linear, Afind the supply and demand equations. Supply Equation p = Demand Equationp (Note: The equations should be in the form p = mg + b where p denotes the price (in dollars) and q denotes the quantity. The slope and y-intercept should be accurate to two decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = Equilibrium quantity q = (Note: The equilibrium price and quantity should be accurate to two decimal places, and the equilibrium price should include a dollar sign).
- Figure 6 shows the migration rate M(t) of Ireland in the period 1988–1998. This is the rate at which people (in thousands per year) moved into or out of the country. (a) Is the following integral positive or negative? What does this quantity represent? 1998 M(t) dt 1988 (b) Did migration in the period 1988–1998 result in a net influx of people into Ireland or a net outflow of people from Ireland? (c) During which 2 years could the Irish prime minister announce, "We've hit an inflection point. We are still losing population, but the trend is now improving." M(t) 30 20 10 1994 1988 1990/ 1992 1996 1998 2000 -10 - -20 -30 -40 -50- FIGURE 6 Irish migration rate (thousands per year).3) A tax on gasoline is proposed in order to raise money for the pollution-control activities of several public agencies. The tax will be 10¢ per gallon, and last year 10.3 million gallons of gasoline were used by motorists (this is strictly an illustrative number). Does this mean that we can anticipate S1,030,000 in revenues from this tax? Explain and use a graph to answer this question.2) Below is the Table showing the annual gross electricity demand (TW.h) of Turkey versus gross do product a) Draw gross domestic product versus electricity consumption and find the equation of the line by the graphical method (be careful determining the dependent and the independent variables) b) By using the equation you have found, predict the electricity demand when GDP becomes 2500 billion S. Year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 GDP (billion $) 800 928 1024 1120 1094 1250 1433 1532 1691 1861 1966 2040 2186 gross annual electricity consumption (TWh) 161 175 190 198 194 210 230 242 246 257 266 279 295
- arrow_forward Question Asked Jun 26, 2020 1 views Suppose one thousand (1000) units of product Aare produced by XYZ limited and the quantity demade for the product is two thousand (2000)units .All other things remaining constant,$18 change in price of product A results in change quantity demaded and supplied of 6 and 9 respectively.XYZ limited has a work force of 500 people who Pay income tax of $200 each .Supposed the government introduce a subsidy of $10 on each unit of A produced. Calculate the new equilibrium price and quantitythe following data represents a set do demands that have occurred over the last several years at a soap making company. The data were collected on an annual basis. Year Actual Demand (At) Forecast (Ft) 1 310 2 365 3 395 4 415 5 450 6 465 7 a) using the SIMPLE AVERAGE method to predict the demand for the 7th year b) the SIMPLE MOVING AVERAGE method to predict the demand for the 7th yearThe following graph shows the relationship between the average state speed limit and the number of traffic fatalities that occur each year on a per- capita basis. 100 80 70 60 V 50 40 30 20 30 35 40 TRAFFIC FATALITIES 90 10 0 45 50 55 60 SPEED LIMIT 65 70 75 80 (?)
- The board of your company discusses a possible future price increase of 20% for one of the products. The argument against the increase is a decrease in sales due to the increased price. With how many units (pieces), sales can fall, without changing the total gross margin, with the following data for your company.Current sales price per piece SEK 600Variable costs per piece SEK 450Current sales volume 10,000 piecesPrinciples of Macroeconomics "T1301102" Student name: First Exam- PART2, 13/0372021 St # Question (20 points) Refer to the table below, answer the questions that follow: Personal consumption expenditures Government purchases- Net private domestic investment Exports Imports Depreciation Receipts of factor income from the rest of the world Payments of factor income to the rest of the world 600 100 200 50 -60 40 30 50 1 The value for GDP is 2. The value for GNPIS 3. The value for NNP is 4. The value of NI is (30 points) Question 2 A- Discuss therelationship between ourput, unemployment, & inflation.Equilibrium Price: Cell Phones Worldwide quarterly sales of a brand of cell phones were approximately g-p+ 156 millon phones when the wholesale price was sp. (a) If the cellphone company was prepared to supply qdp-34 million phones per quarter at a wholesale price of sp, what would have been the equibrium price? (6) The actual wholesale price was 105 in the fourth quarter of 2004. Estimate the projected shortage or surplus at that price. There is an estimated Select of million phones