EBK BRIEF PRINCIPLES OF MACROECONOMICS
7th Edition
ISBN: 9780100469884
Author: Mankiw
Publisher: YUZU
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Chapter 12, Problem 4PA
To determine
Inflation rate and inflation tax.
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How does the change in consumer and producer surplus compare with the tax revenue?
Considering the following supply and demand equations:
Qs=3P-1 Qd=-2P+9 dPdt=0.5(Qd-Qs)
Find the expressions: P(t), Qs(t) and Qd(t). When P(0)=1, is the system stable or unstable?
If the constant for the change of excess of demand changes to 0.6, this is: dPdt=0.6(Qd-Qs) do P(t), Qs(t) and Qd(t) remain the same when P(0)=1?
Chapter 12 Solutions
EBK BRIEF PRINCIPLES OF MACROECONOMICS
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