ountry operates under closed economy and not dealing with the rest of the rorld as in the table below Y C G I 140 30 40 100 170 200 200 300 230 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 2000 nstructions: 1. Using excel, find the equilibrium consumption. 2. Show the range of income at which saving is negative and the range of income at which saving is positive. 3. Using excel, find the equilibrium expenditure. Sho ond

ountry operates under closed economy and not dealing with the rest of the rorld as in the table below Y C G I 140 30 40 100 170 200 200 300 230 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 2000 nstructions: 1. Using excel, find the equilibrium consumption. 2. Show the range of income at which saving is negative and the range of income at which saving is positive. 3. Using excel, find the equilibrium expenditure. Sho ond

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter17: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Question Tow: (Вз, D2, D4) Given the consumption, Investment, Government spending, assuming this country operates under closed economy and not dealing with the rest of the world as in the table below Y C G I 140 30 40 100 170 200 200 300 230 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 2000 Instructions: 1. Using excel, find the equilibrium consumption. 2. Show the range of income at which saving is negative and the range of income at which saving is positive. 3. Using excel, find the equilibrium expenditure. 4. Show the range of income at which unplanned inventory is negative and the range of income at which unplanned inventory is positive. 5. Using excel Show new equilibrium expenditure if autonomous investment increases by $70 at every price level.
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5 Output and Consumption (in millions of dollars) Real GDP (Y) Consumption (C) Gross Investment (1) Government Purchases (G) 42 28 9 Ask Net Exports (NX) Mc Graw Hill -2 What is the equilibrium level of ouput? Multiple Choice O $42 million О $28 million $84 million $14 million P
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hich theory of consumption best explains the consumption behavior of consumers of our economy? Question No: 02 [Marks: 10] If the State Bank started printing large quantities of Pakistani Rupees (Rs), what would happen to the number of Pakistani Rupees a dollar could buy? Why? Question No: 03 [Marks: 10] Deseribe the difference batuuean foreian diract investmet and foraion nortfolie invastment Who is mora likelu to
ADVANCED ANALYSIS Linear equations for the consumption and saving schedules take the general form C= a+ bY and S=-a+ (1- b) Y, where C, S, and Yare consumption, saving, and national income, respectively. The constant a represents the vertical intercept, and b represents the slope of the consumption schedule. a. Use the following data to substitute specific numerical values for a and b in the consumption and saving equations. National Income (Y) Consumption (C) $ 70 100 140 210 200 300 280 350 480 Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers: b. What is the economic meaning of b? MPC What is the economic meaning of (1- 6)?
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5. Explain the difference between investment as the term is used by most people and investment as defined by an economist in two paragraphs.
1. (a) The following equations describe an economy: C-100+ 0.75Yd I-50-25r T-G-50 Where C is aggregate consumption, Y is disposable income, I is aggregate investment. I is taxes, G is government purchases and r is the rate of interest. Derive the IS curve for the economy. Show the area of excess demand and excess supply in the goods market. (b) Draw the graph and explain the derivation of IS curve. 2. (a) Given the following data about the monetary sector of the economy: Ma -0.4Y-80r M₁ - 1200 million Where, Ma is demand for money, Y is the level of income, r is the rate of interest and M, is the supply of money. Derive the equation for LM curve and give the economic interpretation of this curve. Show the excess demand and excess supply in the money market. (b) Draw the graph and explain the derivation of LM curve. 3. Consider the following economy: C-100+ 0.8Yd I-50-25, G-T-50 M' P -200 M₁-Y-25r 1. Calculate the IS and LM curves. 2. Calculate the equilibrium levels of output (national…
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