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- Find the value of consumption when autonomous consumption is 100 ,MPC is 0.6 And Y= 2000Consider an economy described by the following:Autonomous consumption ( a ) = 100Autonomous Investment = 100Marginal propensity to consume = 0.75 What is the savings function for this economy?Precisely how do the APC and the MPC differ?
- If the consumption function is C 100 +0.8and planned investment spending is 200 what is the equilibrium level of output?if planned investment falls by 100 how much does the equilibrium level of out put fall?Based on our understanding of the model presented in Chapter 3, we know that an increase in c1 (where C = c0 + c1YD) will cause A) the ZZ line to become steeper and a given change in autonomous consumption (c0) to have a smaller effect on output. B) the ZZ line to become steeper and a given change in autonomous consumption (c0) to have a larger effect on output. C) the ZZ line to become flatter and a given change in autonomous consumption (c0) to have a smaller effect on output. D) the ZZ line to become flatter and a given change in autonomous consumption (c0) to have a larger effect on output.The following are exogenous (not directly affected by income): G = 9 I = 14 X = M = 0 The consumption function is: C = k + cY, where k = 8, c = 0.6 at the point where this economy is in equilibrium what is the total level of withdrawals? Give the number to ONE decimal place.
- Consider the following economy: Y+C+I+G Y=8000 G=2500 T=2000 C=1000+2/3(Y-T) I=1200-10,000r 1) How large is the subsistence consumption of households? 2) What is the MPC(marginal propensity to consume) in this economy? What is its economic interpretation?Describe how the endogeneity versus exogeneity of consumption expenditures (i.e., the household sector) affects the size of predicted output multipliers by an input-output model.If C = 12 + 4/5Y, I = 20, what is the values the marginal propensity to save? What is equilibrium level of Y? Show that in equilibrium S = I.
- Assume that the economy is initially at its equilibrium level of GDP (Y). Assume that Ip, G, T and Nx are constant numbers. If planned investment decreases by 20, government spending increases by 30, and taxes increase by 10, what is the change in the equilibrium level of GDP (Y)If planned investment (I) goes up by 20 initially and is sustained at this higher level, an increase of output of 20 will not restore equilibrium. Explain why?Assume a closed economy in which, there is no government. If autonomous consumption is80, autonomous investment is 70, and marginal propensity to save is 0.25 in this economy.Then calculate the amount of equilibrium output (income)?