Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200
A: The data presented in the question above is:- Savings = $1300 Income = $2200 Consumption is to be…
Q: GST was first introduced in which country ?
A: GST was introduced in many countries to reduce the tax evasion.
Q: The household has an income of $10000 and it's consumption is also $10,000 Calculate APC
A: The information being given is:- Income (Y) = 10,000 Consumption (C) = 10,000 So both values are…
Q: Calculate the value of APC when Consumption is given to be $230 and the income is $500
A: We can calculate the value of Average propensity to consume by didi Consumption by savings. APC = C…
Q: suppose a family income increases by 3 percent at the same time that inflation is 0 percent what…
A: If an income of a family increases by 3% but the inflation rate is 0% i.e. unchanged. This implies…
Q: It is given that savings is $600 and income is $1300 Calculate APS
A: It is given that:- Savings of the household = $600 Income of the Household = $1300
Q: Find the consumption when savings are 94 and the income is 110
A: A consumer either spends income on consumption of goods and services, or saves income.
Q: Consider the following production function that depends only on labor:Q = 2L + 6L² - 3L³
A: Given information: Q = 2L + 6L2 - 3L3 ---> Production function. Where Q is output produced L is…
Q: What is the nominal interest rate?
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A: According to the given information:
Q: Solve the cake and pie unit income of $23 is spent
A: The table for cake is completed below: Price of cake is $5
Q: What is the lower present value product?
A: The present value is the current worth of a stream of future cashflows given a certain return rate.…
Q: Should income from illegal activity/sources be as part of gross income?
A: INTRODUCTION The issue of the tax collection from illicit source pay might appear to be far off,…
Q: What will be the Savings given that income is $3200 and APS is 0.48
A: The data presented in the question above is:- Income = $3200 Average propensity to save = 0.48…
Q: After grauating with a BBA in Economics, Dwight is considering going to college to get a Ph. D. in…
A: Explicit cost is the cost which is actually incurred by the firm, during production. The firm adds…
Q: Calculate the value of income if consumption is $2000 and savings is $1200
A: The Given information is as follows:- Consumption expenditure = $2000 Savings expenditure = $1200 We…
Q: Determine the effect of the tariff on Home import-competing producers APS = O Home consumers ACS = D…
A: A tariff may be a levy obligatory on product and services foreign from another country by one…
Q: If consumption and savings are $300 and $150 respectively Calculate income of household
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Q: Suppose that each firm in a competitive industry has the following costs: Total Cost: TC = 50+/q²…
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Q: What is the main difference between personal and disposable personal income?
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Q: Calculate the value of APS if Savings is $320 million and income is $420 million
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Q: Suppose GDP in this country is $1,365 million. Enter the amount for investment. National Income…
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Q: Is rate of retur the same as interest rate?
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Q: According to the law of demand, what is the relationship between price and quantity demanded?
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Q: Saved Help Save & Suppose Marcus eats nothing but burritos for dinner. He buys 30 burritos each…
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Q: ._______ Income that is left after savings, food, clothing,and housing are paid.
A: In economics, income is defined as the payment made to labourers for the services they deliver. Rent…
Q: Allocation of Possible Income You are given different amounts of money on which to live (roughly…
A: This can be defined as a concept that shows from the available fixed resources to the consumer how…
Q: What is the Inflation factor?
A: Inflation is the abnormal increase in the general price level of the economy. When there is…
Q: What would be the value of consumption of Saving is $1300 and the income is $2250
A: Given that, Income (Y) = $2250 Saving (S ) = $1300
Q: Find the level of savings when consumption is $610 and the income is $111
A: Generally in the given question Consumption amount is =$610 Income is = $111 Savings = ?
Q: The CPI in period 1 is 150 and the CPI in period 2 is 200. What is the rate of inflation between…
A: Inflation rate is the continuous rise in the price level of goods and services, it results in a fall…
Q: What would be the value of consumption if savings is $1300 and the value of Income is $2200.
A: Given data: Saving is $1300 Income is %2200
Q: Calculate the value of income, If consumption is $4000 and APC is 0.13
A: The given information is as follows:- Consumption = $4000 APC = 0.13 We have to calculate income
Q: Change in savings is $2000 and change in income is $4300 Calculate MPS
A: The information being given is:- Change in Savings = $2000 Change in income = $4300 We have to…
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- Why does a change in income cause a parallel shift in the budget constraint?Answer quickly pleaseIf a household's money income is doubled: Select one: O a. the budget constraint is not affected O b. the budget constraint will shift in and parallel to the old one O . the budget constraint will swivel at the Y-intercept O d. the budget constraint will shift out parallel to the old one
- QUESTION 9 Refer to the information provided in Figure 6.5 below to answer the question(s) that follow. Molly's montly budget constraint Number of CDs per month 0 F Number of DVDs per month Figure 6.5 Refer to Figure 6.5. Molly's budget constraint is EF. If her income decreases and the price of CDs increases, her new budget constraint could be O CD. BD. O AD. O Both BD and AD are correct.Assume that a person's vitility function is given Assume by the following function. TU = 2x¹¹2,¹/2 also that the price of x is 22 and the price of is 26 and that the budget is 2240. what is the optimal amount of goods x and that should be purchused with this budget? of y уOnly typed answer
- What is a budget constraint? A consumer has an income of $3000. Soda costs $3 per liter and cheese costs $6 per pound. Draw the consumer's budget constriaint with soda on the vertical axis. What is the slope of the budget constraint?Consider an economy with two goods, consumption c and leisure 1, and a representative consumer. The consumer is endowed with 24 hours of time in a day. A consumer's daily leisure hours are equal to 1 = 24-h where h is the number of hours a day the consumer chooses to work. The price of consumption p is equal to 1 and the consumer's hourly wage is w. The consumer faces an ad valorem tax on their earnings of 7 percent. The con- sumer also receives some exogenous income Y that does not depend on how many hours she works (e.g. an inheritance). The consumer's preferences over consumption and hours of work can be represented by the utility function U(c, h) = c-3h¹+, where 3 > 0 and p > 0 are parameters. 1+pWrite down the equation for the budget constraint and then graph it for .. Px = $100 Py = $25 Income = $5,000.00
- NOTE: PLEASE ANSWER ALL THE ITEMS THANK YOU!! ASAPSuppose that a consumer's budget decreased. Which of the following will happen to the budget constraint? Select one: It will have the same slope but shift towards the origin. Ob. It will have the same slope but shift away from the origin. c. It will become flatter. Od. It will be become steeper.Consumer choiceJo buys muffins and cupcakes at a bakery. Jo’s weekly budget for baked goods is $70. The priceof muffins is $1.25. The price of cupcakes is $1.75.a) Write down Jo’s budget constraint: express the quantity of cupcakes as a function of thequantity of muffins.b) Show Jo’s budget constraint on a graph. Let quantity of muffins be on the horizontal axis. Letquantity of cupcakes be on the vertical axis.c) Show the following consumption bundles (points) on the graph. Calculate the cost of eachconsumption bundle and state which one of them are feasible.• Point A: 49 muffins and 3 cupcakes.• Point B: 38 muffins and 15 cupcakes.• Point C: 24 muffins and 24 cupcakes.• Point D: 14 muffins and 30 cupcakes.d) Which of these four points can be Jo’s optimal consumption bundle? Why?e) The price of cupcakes decreased to $1.5. Provide an example of a consumption bundle thatbecame feasible now but wasn’t feasible before the decrease in price. Calculate the cost ofthis consumption bundle…