I need urgent please help... Consider the case of a closed economy for which the following initial data are known: c=0.70, t=0.3; government expenditures G=350 bil. lei, privateinvestments I= 150 bil. lei, capital depreciation=9 bil. lei, autonomous taxes To=70 bil. lei, autonomous consumption Co=50 bil. lei, transfers TR = 20 bil.lei, while subsidies are assumed to be 0.Complete the following tasks (do the calculations using two decimals):1. Specify the model of a closed economy with government sector and determine the initial levels of GDP and NDP. (2 p.)2. Determine the effect of an increase in investments by Z bil. lei (AI = Z) on GDP and budget deficit and derive the formulas for themultipliers used. Interpret the results. (1 p.)3. Determine the effect of an increase in transfers by X* 10 bil. lei (ATR = X * 10) on GDP, budget deficit, taxes and private consumptionand derive the formulas for the multipliers used in this case. Interpret the results. (2 p.)4. Determine the effect of a fiscal policy that consists of increasing the tax rate by Z/ 100 percentage points (At = Z/ 100) on GDP andbudget deficit and derive the formulas for the multipliers used here. Interpret the results. (2 p.)5. Determine the effect of a mixed fiscal policy that consists of a simultaneous increase of government expenditures by X* 10 bil. lei (AG= X* 10) and autonomous taxes by X * 10 bil. lei (ATo = X* 10) on GDP and budget deficit and derive the formula for the multiplierused în this case. Interpret the results. (2 p.)x=6 ,z=9

Introduction We have given data of a closed economy. c = 0.70 , t = 0.3 , government expenditure…

Consider the case of a closed economy for which the following initial data are known: c=0.70, t=0.3; government expenditures G=350 bil. lei, private investments I=150 bil. lei, capital depreciation=9 bil. lei, autonomous taxes To=70 bil. lei, autonomous consumption Co=50 bil. lei, transfers TR = 20 bil. lei, while subsidies are assumed to be 0. Complete the following tasks (do the calculations using two decimals): 1. Specify the model of a closed economy with government sector and determine the initial levels of GDP and NDP. (2 p.) 2. Determine the effect of an increase in investments by Z bil. (AI = Z) on GDP and budget deficit and derive the formulas for the multipliers used. Interpret the results. (1 p.)

Consider the case of a closed economy for which the following initial data are known: c=0.70, t=0.3; government expenditures G=350 bil. lei, private investments I=150 bil. lei, capital depreciation=9 bil. lei, autonomous taxes To=70 bil. lei, autonomous consumption Co=50 bil. lei, transfers TR = 20 bil. lei, while subsidies are assumed to be 0. Complete the following tasks (do the calculations using two decimals): 1. Specify the model of a closed economy with government sector and determine the initial levels of GDP and NDP. (2 p.) 2. Determine the effect of an increase in investments by Z bil. (AI = Z) on GDP and budget deficit and derive the formulas for the multipliers used. Interpret the results. (1 p.)

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

I need urgent please help...

Consider the case of a closed economy for which the following initial data are known: c=0.70, t=0.3; government expenditures G=350 bil. lei, private
investments I= 150 bil. lei, capital depreciation=9 bil. lei, autonomous taxes To=70 bil. lei, autonomous consumption Co=50 bil. lei, transfers TR = 20 bil.
lei, while subsidies are assumed to be 0.
Complete the following tasks (do the calculations using two decimals):
1. Specify the model of a closed economy with government sector and determine the initial levels of GDP and NDP. (2 p.)
2. Determine the effect of an increase in investments by Z bil. lei (AI = Z) on GDP and budget deficit and derive the formulas for the
multipliers used. Interpret the results. (1 p.)
3. Determine the effect of an increase in transfers by X* 10 bil. lei (ATR = X * 10) on GDP, budget deficit, taxes and private consumption
and derive the formulas for the multipliers used in this case. Interpret the results. (2 p.)
4. Determine the effect of a fiscal policy that consists of increasing the tax rate by Z/ 100 percentage points (At = Z/ 100) on GDP and
budget deficit and derive the formulas for the multipliers used here. Interpret the results. (2 p.)
5. Determine the effect of a mixed fiscal policy that consists of a simultaneous increase of government expenditures by X* 10 bil. lei (AG
= X* 10) and autonomous taxes by X * 10 bil. lei (ATo = X* 10) on GDP and budget deficit and derive the formula for the multiplier
used în this case. Interpret the results. (2 p.)
x=6 ,z=9

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