Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. The graph on the right shows output per worker f(K,/M). investment perworker sf (K/N). and depreciation per worker SK/N for an economy.Suppose the government initially has a balanced budget, then changes itspolicies and starts running a government budget deficit.How would this change impact the graph?1.) Using the point drawing tool, depict the initial steady-state level of outputper worker before the government changes its policies. Label your point 'A'.2.) Using the 3-point curved line drawing tool, depict the impact on output perworker in this economy if the government starts running a budget deficit. Labelyour curve appropriately.Carefully follow the instructions above and only draw the required objects.The new budget deficit will result in the country havingoutput per worker in the long run.Will the government budget deficit lead to lower consumption by consumers inthe long run?OA. No, the lower output per worker will cause lower consumption in theshort run but not in the long run.OB. It depends on where the country's capital is relative to the golden-rulelevel of capital.OC. Yes, the lower output per worker will translate into lower consumptionin the long run.output per worker, Y/N109F(K₂/N)Capital per worker, K/NSK/Nsf (K+/N)Q

the answer to the question is C.. Yes, the lower output per worker will translate into lower…

Will the government budget deficit lead to lower consumption by consumers in the long run? OA. No, the lower output per worker will cause lower consumption in the short run but not in the long run. OB. It depends on where the country's capital is relative to the golden-rule level of capital OC. Yes, the lower output per worker will translate into lower consumption in the long run.

Will the government budget deficit lead to lower consumption by consumers in the long run? OA. No, the lower output per worker will cause lower consumption in the short run but not in the long run. OB. It depends on where the country's capital is relative to the golden-rule level of capital OC. Yes, the lower output per worker will translate into lower consumption in the long run.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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