Economics Answers

1. Assume an economy where spending for each sector is:

Household: C = 800 + 0.95Qd

Business: I = 3000

Public: G = 4000, Tr = 7000, Tx = 1000 + 0.3Q

Foreign: X = 1700, Im = 200 + 0.165Q

Solve for:
a) Autonomous Spending
b) Spending Multiplier
c) Disposable Income
d) Consumption Expenditure
e) Household Savings,
f) Imports
g) Net Exports
h) Government Expenditure
i) Budget Deficit

2.) Continuing with the previous problem, what happens to the values in parts a-i if we increase Government Purchases by 1500?

3.) Continuing with 2, what happens if Investment Spending decreased by 500?

4.) Continuing with 3, what happens if exports also decrease by 500?

According to the department of labor's new rates, domestic workers working in a bigger metropolitan areas who work more than 27 ordinary hours per week, must be paid a minimum wage of R13.69p/h
Workers who work fewer hours tha 27 hours per week must be paid minimum of R16.03p/h

With the aid of diagram, discuss the welfare effect of this new legislation of new wage is below the equilibrium wage and 2 above the equilibrium wage rate with labour hours as your quantity variables

Quantity Price Total Revenue Average Revenue Marginal Revenue
1 $35 $35
2 $64 $32 $29
3 $29
4 $17
5 $23 $11
6 $120
7 $17 –$1
8 –$7
9 $99 $11 –$13

Refer to Table 15-1. Assume this monopolist's marginal cost is constant at $11. What quantity (Q) of output will it produce and what price (P) will it charge?

How to tacle economic indicators

three investors need your advisory: investor X is an old man wants to use his pension to safe guard his remaining life; investor Y is matured jobber who wants to convert his regular savings into a major source of income; investor Z is a lady with some children needs to put a part of her income for future returns through which she can finance her children education and marriages (based on financial instruments/institutions and financial markets what three plan you will offer to each with logical justification

A.Which of the following best describe economic growth 1.An increase in real GDP per Capita over time,where GDP per capita is real output divided by population 2.An increase in the value of final goods and services produced within the borders of the country in a one-year period 3.A sustained increase in nominal GDP occurring over time 4.An absolute change of real GDP or real GDP per capita over time B.in the AD-AS model,an expansionary fiscal policy may lead to a ...1 rightward shift of aggregate demand and demand-pull inflation 2.Leftward shift of aggregate demand and demand-pull inflation 3.Rightward shift of aggregate supply and cost-push inflation 4.leftward shift of aggregate supply and cost-push inflation

A.The original Philips curve....1.indicates the inverse relationship between the inflation rate and the unemployment rate2.illustrate the positive relationship between the inflation rate and the unemployment rate3.shows the phenomenon of stagflation 4.shifts to the right when aggregate demand increases.B.To reduce structural unemployment in South Africa,the government should...1.take steps to reduce population growth 2.apply stricter immigration control 3.raises taxes and increase government spending to boost aggregate demand 4.make education and training available to everyone who is will to improve their skills.

Lawrence plan to start a restaurant business at a mega shopping mall. To start a business, it incurs cost and revenue. Based on the restaurant context,
(a) Identify the fixed and variable inputs for this business by providing examples.
(b) Discuss TWO (2) main types of costs to start this business by providing relevant examples to explain both costs. (hint: it can be based on your answer in (a).)
(c) Explain the way Lawrence determine his profit for this business. (hint: please provide explanation of the formula/equation/approach if the formula/equation/approach is relevant.)
(d) Identify the type of market that this business operates (perfect competition/ monopoly/ monopolistic/ oligopoly) by relating to the THREE (3) characteristics of this business to the market structure.
(e) Provide ONE (1) approach that Lawrence can use to determine the equilibrium output for his business.
(f) Discuss the long-run and short-run profit of this business.
(g) Explain the shut-down point of this business.

What are some reliable and effective ways, reasonably proven to work, in which the national debt could decrease, not to $0, but decrease? Based on the current situation, could the economy get better in a post COVID-19 world? This two questions in relation to the national debt of the United States. Thank you.

A college graduate in 1972 found a job paying $7,200. The CPI was 0.418 in 1972. A college graduate in 2018 found a job paying $50,390. The CPI was 0.2511 in 2018.

Calculate real income for 1972
Calculate real income for 2018
Calculate growth rate of nominal income between 1972 and 2018
Calculate growth rate of real income between 1972 and 2018