Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hey can you help me with these questions.. part A 10 points References Which of the following would be classied as an autonomous change to

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Hey can you help me with these questions..

part A

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
10 points References Which of the following would be classied as an autonomous change to planned aggregate expenditure? Instructions: You magir select more than one answer. Click each box to empty the box and then click to select your choices. '3 Domestic goods become more expensive relative to foreign goods. D Interest rates in an economyr decrease. D Current income in an economy increases. '3 Congress decides to undertake an infrastructure repair project. 6 points References Which components of aggregate expenditure do not directly depend on current income":I Instructions: You magiI select more than one answer. Click each box to empty the box and then click to select your choices. '3 government spending D net exports D consumption 8 10 points Shipped References Suppose planned aggregate expenditure is greater than actual aggregate expenditure. In this case. what do you think will happen to output over time? 0 Output will fall because planned investment is greater than actual investment 0 Output will rise because planned investment is greater than actual investment 0 Output will fall because planned investment is less than actual investment. 0 Output will rise because planned investment is less than actual investment. If income increases by 10 percent and the quantity demanded of a good then increases by 5 percent, the good is: normal and income-inelastic. O inferior and income-inelastic. 10 O inferior and income-elastic. points O normal and income-elastic. Skipped eBook Print References2 If the price of a haircut is $10, the number of haircuts provided is 140. If the price rises to $15 per haircut, barbers will work much longer hours, and the supply of haircuts will increase to 200. Instructions: Round your answer to two decimal places. 10 The price elasticity of supply for haircuts between $10 and $15 using the mid-point method is points Skipped eBook Print References10 points If the price elasticity of demand for used cars priced between $3,000 and $5,000 is -0.8 (using the mid-point method), what will be the percentage change in the quantity demanded when the price of a used car falls from $5,000 to $3,000? Instructions: Round your answer to the nearest whole number. |:| percent 10 10 points Consider two goods: cookies and donuts. These two goods can be expected to have a: 0 negative cross-price elasticity, so that if the price of cookies decreases. the demand for donuts will decrease. 0 positive cross-price elasticity, so that if the price of cookies decreases. the demand for donuts will in crease. 0 negative cross-price elasticity, so that if the price of cookies increases, the demand for donuts will also increase. 0 positive cross-price elasticity, so that if the price of cookies increases. the demand for donuts will also increase

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Math For Business And Finance An Algebraic Approach

Authors: Jeffrey Slater, Sharon Wittry

1st Edition

0077639626, 9780077639624

More Books

Students also viewed these Economics questions

Question

discuss transactional leadership and pathgoal theory?

Answered: 1 week ago

Question

5. Give some examples of hidden knowledge.

Answered: 1 week ago