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Macroeconomics
- Which one of the following statements is correct? Although the economy’s output is at its maximum capacity, are there still structural and frictional unemployment. A. “Steady-state”.
- B. Unrealistic unemployment rate.
- C. Natural unemployment rate.
- D. Cost-push unemployment.
Macroeconomics
In a closed economy with no government, the consumption function is modeled by
C = 500 + 0.65Y. If investment falls by $200m, what is the change in national Y.
C = 500 + 0.65Y. If investment falls by $200m, what is the change in national Y.
Macroeconomics
Explain how money helps specialisation and trade to occur
Macroeconomics
Explain one supply factor and one demand factor that might lead to a rise in the price of rented housing.
Macroeconomics
iii. Suppose that the price of one ear of corn was $0.05 in 1920, that the CPI in 1920 was 10, and that in 1990 the CPI was 180. What is the price of a 1920 ear of corn in 1990 dollars?
iiii. In 1954, Mickey Mantle earned $21,000 playing for the New York Yankees. The CPI in 1954 was 26.9, and the CPI in 2010 was 218.06. What is Mickey Mantle’s 1954 salary in 2010 dollars?
iiii. In 1954, Mickey Mantle earned $21,000 playing for the New York Yankees. The CPI in 1954 was 26.9, and the CPI in 2010 was 218.06. What is Mickey Mantle’s 1954 salary in 2010 dollars?
Macroeconomics
You have been appointed as an economic advisor to the principle of Bright Sparks College, a firm
operating in the market for tertiary education. Over the past 18 months the following
simultaneous changes have been noticed in the market for tertiary education:
A decrease in consumer income;
An increase in the cost of providing tertiary education services.
Explain, with the aid of a graph, the impact of the above changes on the equilibrium price and
equilibrium quantity in the tertiary education market.
operating in the market for tertiary education. Over the past 18 months the following
simultaneous changes have been noticed in the market for tertiary education:
A decrease in consumer income;
An increase in the cost of providing tertiary education services.
Explain, with the aid of a graph, the impact of the above changes on the equilibrium price and
equilibrium quantity in the tertiary education market.
Macroeconomics
Define the IS curve and LM Curve. Discuss at least three characteristics of each of these curves
Macroeconomics
. Suppose that for a particular economy and period, investment was equal to 200, government expenditure was equal to 100, net taxes were fixed at 150, and consumption (C) was given by the consumption function C = 20 + 0.6YD where YD is disposable income and Y is GDP. a. What is the level of equilibrium income (Y) ? b. What is the value of the government expenditure multiplier (Y>G) ? Of the tax multiplier (Y>T)? c. Suppose the investment declined by 100 units to a level of 100. What will be the new level of equilibrium income?
Macroeconomics
Find MPC, when multiplier (K) = 1.
Macroeconomics
With the aid of diagram/diagrams discuss four fiscal policies and four monetary policies that can boost aggregate demand.
