Suppose Jade, an avid cinephile, spent a total of $2000 on tickets for the 200 films she saw in 2017and a total of $2200 on tickets for the 200 films she saw (at the same theater) in 2018. Jade'snominal consumption of movies in 2018 wasreal consumption of movies in 2018 was,her nominal consumption level in 2017. Jade'sher real consumption level in 2017.Select one:A. greater than; less thanOB. less than; greater thanO C. the same as; greater thanO D. greater than; the same asO E. greater than; greater than iOF. less than; less thanO G. less than; the same asO H. the same as; less thanO1, the same as; the same as

Consumption is the amount of money a consumer purchases. The individual buys goods according to the…

Answered: Suppose Jade, an avid cinephile, spent…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Below is some data for a hypothetical economy: C=0.56YX=50-0.06Y T = 50+ 0.3Y 1 = 60 G=240 Refer to the information above to answer this question. What is the value of MPE? O a. 0.3 O b. 0.4 O c. 0.5 O d. 0.56
Classify each of the following items as a final good or an intermediate good, and identify whether it is a component of consumption expenditure, investment, or government expenditure on goods and services: Item 1. Packing boxes bought by Amazon.com. Item 2. Starbuck's grande mocha frappuccino bought by a student. Item 3. A new limousine for the president. Item 4. New airplanes bought by United Airlines. Item 1 is and item 2 is O A. an intermediate good; a final good that is consumption expenditure B. a final good that is consumption expenditure; a final good that is consumption expenditure C. a final good that is consumption expenditure; a final good that is investment D. an intermediate good; a final good that is investment Item 3 is and item 4 is O A. an intermediate good; an intermediate good O B. a final good that is government expenditure; a final good that is investment O C. an intermediate good; a final good that is investment D. a final good that is government expenditure; an…
QUESTION 6 Potential GDP Aggregate expenditure AE, 45° Y. Real GDP (Y) When real GDP is greater than Yo in the diagram above: O A. - inventories will decrease OB. ·Aggregate expenditure will be less than Real GDP OC. Aggregate expenditure will be equal to Real GDP OD. O D. inventories will increase QUESTION 7 Y G Xn $1,000 $1,400 1,400 1,400 1,400 1,400 $0 $800 -$200 2,500 5,000 7,500 10,000 2,300 3,800 5,300 6,800 1,000 1,000 1,000 1,000 -200 -200 -200 -200 Suppose you are given the data in the table above for a hypothetical economy. All data are in billions of dollars. Yis actual real GDP, and C, Ip, G, and Xn are the consumption, planned investment, government purchases, and net exports components of aggregate expenditures, respectively. Calculate the equilibrium GDP (give your answer in billions of $) Aggregate Expenditure
2. Over the past few years, one of the most closely monitored economic variables has been the inflation rate, which measures the change in the price level. Measuring it is complicated because different prices change by different amounts and sometimes in different directions (for example, the price of college tuition has been steadily rising for decades, whereas the price of TV sets has been decreasing). We can use the expenditure function to aggregate the change in the price level, by asking how much more it costs to achieve the same utility level under the new prices. That is, if the prices change from (P₁, P₂) to (P₁, P₂), where p₁ > p₁ and pź > P₂, we can define the inflation rate as: b. i 1 1 Suppose Bebel has a Cobb-Douglas utility, U = 9₁²9₂², and an income level of Y = 1600. Suppose p₁ = 100 and p = 100 so the price of good 1 doesn't change, but the price of good 2 increases from p₂ = 16 to p2 = 25. a. Calculate Bebel's optimal consumption bundle and utility level at the initial…
If Michelle's income is reduced to zero after she loses her job, her consumption will be and her saving will be O greater than zero; greater than zero O less than zero; greater than zero O greater than zero; less than zero O less than zero; less than zero
Assume an economy with a coal producer, a steel producer, and some consumers. (There is no government.) In a given year, the coal producer produces 15 million tonnes of coal and sells it for $6 per tonne. The coal producer pays $70 million in wages to consumers. The steel producer uses 45 million tonnes of coal as an input into steel production, all purchased at $6 per tonne. Of this, 15 million tonnes of coal comes from the domestic coal producer, and 30 million tonnes is imported. The steel producer produces 20 million tonnes of steel and sells it for $35 per tonne. Domestic consumers buy 16 million tonnes of steel, and 4 million tonnes are exported. The steel producer pays consumers $40 million in wages. All profits made by domestic producers are distributed to domestic consumers. a. Determine GDP using (i) the product approach, (ii) the expenditure approach, and (iii) the income approach. (i) Using the product approach, the value added by the coal producer is $ million, the value…
Figure 7.1 C b. 100 In Figure 7.1, all of the following is true except: An additional dollar of income always induces some additional consumption. O There is some level of consumption that is independent of income. O The marginal inclination to consume is greater than zero. O At zero income there is zero consumption.
not use ai please
In the country of Guadelope, in 2019 GDP increased by $8 million. In the same year, the level of investment in the country was $2 million. What is the multiplier? Select one: O a. 6. O b. 5. c. 4. d. 1/4.
Suppose two successive levels of disposable personal income are $13.8 and $18.8 billion, respectively, and the change in consumption spending between these two levels of disposable personal income is $3.65 billion, then the MPS will be equal to O 0.25 O 0.27 O 0.35 O 0.65 O 0.73
4. Do you think that incomes and purchasing power are related? Are companies required to pay their employees more to compensate for higher costs of living?
This multiple choice question from MACROECONOMICS course. just write for me the final answer.

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