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What are the solutions that a nation can adopt to reduce unemployment
Suppose now that country's national income increases to $13 billion. Assuming the amount paid in taxes is fixed at $3 billion and MPC = 0.75, what will be the new household consumption?
Question:-
Derive the equations for IS and LM curves. Specify the parameters of the model. Explain how the levels of equilibrium output and interest rate are influenced by changes in these
parameters.
For each of the following pairs goods, which good would you expect to have more elastic demand and why? a) Required textbooks or mystery novels b) Beethoven recordings or classical music recordings in general.
How did the kuznets consumption function criticise the Keynesian consumption function?
We termed the classical view of the labor market an auction market . What assumptions
underlie this characterization
In the simplest possible Keynesian macroeconomic model …
a. government is important in distributing social grants.
b. households consume products sold in the goods market.
c. the labour market plays an important role.
d. social grants help people have income to spend on consumption goods like taxi rides.
e. wages are flexible.
Explain the relationship between profit maximization condition and the labor demand as shown by equation
Explain the concept of an aggregate production function. How would you expect the production function in Figure 3-1 to be affected by an increase in the average and marginal
productivity of labor for a given output level, owing, for example, to increased education of
the labor force? How would such a shift in the production function affect the levels of output and employment in the classical model?
Essay about impact of labour market and labour union on supply and demand.
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