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Consider a Keynesian model with consumption function C = 100 + c(Y – T), 0<c<1
where taxes T are given by T = 100 + tY, 0<t<1
with marginal tax rate t. An increase in G will increase equilibrium output by the multiplier:
a. 1/(1 – c – c*t)
b.1/(1 – c + c*t)
c.1/(1 – c*t)
d.1/(1 – c)
Step by step
Solved in 2 steps
- In the Keynesian cross model, assume that the consumption function is given by c= $220 + 0.7(Y – T) Planned investment is $50; government purchases and taxes are both SI00. c. If government purchases increase to $115, what is the new equilibrium income? What is the multiplier for government purchases? new Y=S multiplier:In the Keynesian cross, assume that the consumption function is given by C = 200 + 0.75 (Y − T ). Planned investment is 100; government purchases and taxes are both 100. A. What is the equilibrium level of income? B. If government purchases increase to 125, what is the new equilibrium income? C. What level of government purchases is needed to achieve an income of 1,600?In the Keynesian cross, assume that the consumption function is given by C = 200 + 0.75 (Y − T). Planned investment is 100; government purchases and taxes are both 100. What level of government purchases is needed to achieve an income of 1,600?
- In the Keynesian cross model, assume that the consumption function is given by C = $220 + 0.7(Y – T) Planned investment is $50; government purchases and taxes are both $100. d. What level of government purchases is needed to achieve an income of $1080? Assume taxes remain at $100. G=$ e. What level of taxes is needed to achieve an income of $1080? Assume government purchases remain at S100.Assume the economy is initially in goods market equilibrium with all variables at their expected levels. Considering only the short run implications for the economy, which of the following statements are true: a) Following a cut in the proportional tax rate, national income rises and the budget balance improves. b) If the multiplier estimated by researchers from the data is less than one, then following a rise in government spending, output is lower in the new equilibrium. + c) Following a rise in households' target wealth, both consumption and output are lower in the new equilibrium. ÷ 수If the Keynesian consumption function were C = 2,000 + 0.75YD , what would the value of the tax multiplier be, and how much would equilibrium $output/$income, Y, change if taxes were decreased by 200? Group of answer choices A) Tax multiplier = - 4 ; change in Y = + $160 B) Tax multiplier = - 5 ; change in Y = + $1,000. C) Tax multiplier = - 4 ; change in Y = + $800. D) Tax multiplier = - 5 ; change in Y = + $4,000. E) Tax multiplier = - 3 ; change in Y = + $600.
- If the marginal propensity to consume is 0.75. When the world gets into a recession period, country X's net exports fall by $2 billion, the government can offset the effect on output if government purchases G will rise by(?)Which of the following statements about the Keynesian framework are accurate? a)Keynes posited a linear Consumption function C=Ca + mpcYd, where C is total desired consumption spending, Ca is consumption spending independent of income and Yd is disposable income and mpc is marginal propensity to consume b) In the C=Ca +mpcYd the Ca is the vertical axis intercept parameter, and mpc is the slope parameter. c) Keynes also posited that Investment spending was a function of expectations and the interest rate. d) In the Keynesian investment function the firm's estimated profitability of potential investment projects were determined by expectations of future sales and costs. e) Businesses would invest in those projects whose estimated profitability was greater than the market rate of interest. f) If the firms don't have the cash, they will borrow funds and earn the difference between the rate of return on the project and the lower market rate of interest. If they have more cash than needed…Consider an economy with an autonomous consumption of $4 million, a marginal propensity to consume of 0.6 and a fixed income tax of $1 million, such that disposable income is (Y− 1).< a) Define the Consumption Function (in million dollars).< b) What is the marginal propensity to save?< c) If real GDP accounts to $6 million, what is the value of consumption?< d) What is the value of private savings?< e) Graph the Consumption Function.|/
- There is a simple Keynesian Model of a typical form (as given in the lecture and in the learning materials): (1) Y = C + I (equilibrium condition) (2) C = a + bY (consumption function) (3) I = I0 (investment function) where I0 = 115 a = 10 b = MPC = 0.9 how much is the simple multiplier (also known as a Keynesian multiplier or an expenditure multiplier)?In the Keynesian cross model, assume that the consumption function is given byC = 110 + 0.75(Y - T). Planned investment is 300; government purchases is 350. Assume a balanced budget.a. Graph planned expenditure as a function of income.b. What is the equilibrium level of income?c. If government purchases increase to 400, what is the new equilibrium income? What is the multiplier for government purchases?d. What level of government purchases is needed to achieve an income of 2,200? (Taxes remain unchanged.)e. What level of taxes is needed to achieve an income of 2,200? (Government purchases remain at 350.)In a Keynesian cross diagram, if the government decreases the tax rate, or makes the leakage of taxation less a) the aggregate expenditure function will shift to the left, but its slope will not change b) the aggregate expenditure function will shift to the right, but its slope will not change c) the slope of the aggregate expenditure function will increase and increases the point at which it crosses the 45 degree line where Aggregate Output is equal to Aggregate Expenditures d) the slope of the aggregate expenditure function will decrease
