Econ Macro (book Only)
6th Edition
ISBN: 9781337408745
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 9, Problem 4P
Sub-Part
A
To determine
Effect of increase in Net taxes on the consumption function.
B
To determine
Effect of increase in interest rates on the consumption function.
C
To determine
Effect of increase in Consumer optimism, or confidence on the consumption function.
D
To determine
Effect of increase in the price level on the consumption function.
E
To determine
Effect of increase in consumer’s net wealth on the consumption function.
F
To determine
Effect of increase in Disposable income on the consumption function.
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Please give with explanation
not use ai please
and u (C1, C2)
=
1/2
=
f) Derive analytically and show graphically the solution under other util-
ity functions such as u (C1, C2) ac₁+bc2 where a, b > 0, u (C1, C2) = ac₁+bc1/2
acbc2 (assume that the agent is sufficiently rich to
avoid the corner solution). What of these utility functions reflects best your
own preferences (or indicate other utility function that represent your pref-
erences).
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