Macroeconomics Answers

It is late at night and your paper is due at 9:00 a.m. the next day. You used a lot of material from a couple of books, but you didn't quote anything and, therefore, you didn't include any footnotes. True/False - Is this plagiarism?

5. Which of the following statements about stock and flow variables is/are true?
a) Interest earned is a flow variable.
b) The number of people who enter the unemployment pool is a stock variable.
[1] both a and b are correct
[2] only b is correct
[3] a is correct and b is incorrect
[4] both a and b are incorrect

what are the common misconceptions/ misinterpretation of GDP (gross domestic product) as indicator for economic growth?

Assume an economy has a nominal GDP of $100million.Assume also that the economy has experienced 2% inflation over the course of the year. Calculate the real GDP?

Suppose we have a hypothetical economy with the following characteristics: C = a + 0.8Yd, I = 100, G = 150,
What is the equilibrium level of income in a 2 sector, and 3sector economy without taxation.
If the 2 sector economy desires to double output, by how much must investment increase to achieve the desired level of output?
If the government introduces tax in a 3sector economy to the tune of 20m, what will be the new equilibrium level of income for the 3 sector economy? How does this differ from the 3 sector solution in (I) above.
If there is an increase in investment by 50%, how will the NI be impacted?
If the economy becomes open with the introduction of the external sector such that export (X) = 100 and import (M) = 150, calculate the equilibrium income in a 4 sector model.
If the value of export doubles in (IV) above, what will be the value of equilibrium income?
Using the answers from (iv) and (v) above, comment on the effect of net exports on the

Find the equilibrium level of income for the two economies (A & B) that has the following characteristics
A: C = 1000 + 0.8Y and I = 800
B: C = 1000 + 0.8Y and I = 500
From (i) above can we conclude that having the same or similar consumption function would always yield similar equilibrium level of income? Provide reasons for your answer.
What accounts for the difference in the equilibrium level of income for both countries

What is the difference between GDP and GNP.

1) how do you calculate savings given the income that is 500, output 500 and consumption 200.
2) how do you calculate consumption given the income that is 750, output 750 and savings 400
3) how do you calculate consumption given the income that is 800, output 800 and savings 230

“There is a high cross elasticity of demand between new and old cars”. Discuss the
statement by explaining the features of cross elasticity of demand. Also compare and
contrast cross elasticity with other types of elasticities of demand.