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Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 1. The government spending multiplier in Bartlettland is: 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 1. The government spending multiplier in Bartlettland is: MPC = 100/200 = .5 MPS = 100/200 = .5 1/(1-.5) = 1/.5 = 2 1/.5 = 2 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 2. If there is an increase in taxes of $700 in Bartlettland the decrease in GDP will be: 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 2. If there is an increase in taxes of $700 in Bartlettland the decrease in GDP will be: -.5/(1-.5) = -.5/.5 = -1 700 x -1 = -$700 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 3. If there is an increase in investment spending of $300 and an increase in taxes of $200, the change in the GDP will be: 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 3. If there is an increase in investment spending of $300 and an increase in taxes of $200, the change in the GDP will be: 300 x 2 = 600 200 x -1 = -200 400 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 4. If there is an increase in government spending of $1000, the increase in GDP will be: 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work Bartlettland has the following values for income and consumption. Use this data to answer the following questions: Income Consumption 4. If there is an increase in government spending of $1000, the increase in GDP will be: $1000 x 2 - $2000 1000 1200 1400 1600 1800 2000 1200 1300 1400 1500 1600 1700 Mr. Weiss Macro Unit 3 Math Work 5. If Bartlett Hawk’s income goes up from $ 700 to $ 850, and his/her level of consumption expenditures goes up from $ 550 to $ 650, you may conclude that her/his marginal propensity to consume is: Mr. Weiss Macro Unit 3 Math Work 5. If Bartlett Hawk’s income goes up from $ 700 to $ 850, and his/her level of consumption expenditures goes up from $ 550 to $ 650, you may conclude that her/his marginal propensity to consume is: MPC = 100/150 = .67 MPS = 50/150 = .33 Mr. Weiss Macro Unit 3 Math Work 6. In the Keynesian Aggregate Expenditure model, if the MPC is .9 and gross investment increases by $ 9 billion, equilibrium GDP will increase by: Mr. Weiss Macro Unit 3 Math Work 6. In the Keynesian Aggregate Expenditure model, if the MPC is .9 and gross investment increases by $ 9 billion, equilibrium GDP will increase by: MPC MPS 1/(1-.9) = 1/.1 = 10 1/.1) = 10 9 billion x 10 = 90 billion Mr. Weiss Macro Unit 3 Math Work 7. In the Keynesian Aggregate Expenditure model, if the MPC is .80 and taxes are reduced by $ 25 billion, equilibrium GDP will increase by: Mr. Weiss Macro Unit 3 Math Work 7. In the Keynesian Aggregate Expenditure model, if the MPC is .80 and taxes are reduced by $ 25 billion, equilibrium GDP will increase by: MPC MPS -.80/(1-.80) - .80/.20 = - 4 (4) -.80/.20 = - 4 (4) 4 x 25 billion = $100 billion Mr. Weiss Macro Unit 3 Math Work 8. In the Keynesian Aggregate Expenditure model, if the MPS is .10 and the government increases spending by $ 500 billion, equilibrium GDP will increase by: Mr. Weiss Macro Unit 3 Math Work 8. In the Keynesian Aggregate Expenditure model, if the MPS is .10 and the government increases spending by $ 500 billion, equilibrium GDP will increase by: MPC 1/(1-.9) 1/.1 = 10 MPS 1/.1 = 10 $ 500 billion x 10 = $ 5 trillion Mr. Weiss Macro Unit 3 Math Work 9. Using the data in this table, what is the APC and APS at $ 7,000? DI C S APC APS 1,000 4,000 7,000 10,000 1500 -500 3500 500 6300 700 8500 1500 Mr. Weiss Macro Unit 3 Math Work 9. Using the data in this table, what is the APC and APS at $ 7,000? DI C S APC APS APC = 6300/7000 = .90 APS = 700/7000 = .10 1,000 4,000 7,000 10,000 1500 -500 3500 500 6300 700 .90 8500 1500 .10