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Do Homework - jinxin li - Google Chrome mathxl.com/Student/PlayerHomework.aspx?homeworkld=579524993&questionld=29&flushed=true&cld=6239023¢erwin=yes ECN600 Intermediate Macroeconomics II (Section 01) jinxin li & | 10/01/20 4:29 AM Homework: Assignment 1B Sav Score: 0 of 1 pt 31 of 37 (30 complete) HW Score: 60.85%, 22.51 of 37 9.2 Problem 9 Question Help Suppose a credit market model in which each consumer has a working period (the current period) and a retirement period (the future period). In the current period, a consumer has income y, and he or she has zero income in the future period. For simplicity, suppose there are no taxes. The government decides that it wants to increase the amount that people save for retirement, and so it introduces a program to augment private savings. That is, for each unit of savings the consumer chooses in the current period, the government will add x units of savings, which will pay off x(1 + r) in the future period. a. What are the effects of the government program on the consumer's consumption in the current and future periods, and on savings? The government program will Jh which results in both an income and substitution effect on consumption levels. The consumer will substitute ect causes the consumer to decrease the relative price of future consumption vernment program is future consumption, increase the relative price of future consumption ings increase the relative price of current consumption decrease the relative price of current consumptionGoogle Chrome mathxl.com/Student/PlayerHomework.aspx?homeworkld=579524993&questionld=29&flushed=true&cld=6239023¢erwin=yes X ECN600 Intermediate Macroeconomics II (Section 01) jinxin li & | 10/01/20 4:29 AM Homework: Assignment 1B Save Score: 0 of 1 pt 31 of 37 (30 complete) HW Score: 60.85%, 22.51 of 37 pts 9.2 Problem 9 Question Help Suppose a credit market model in which each consumer has a working period (the current period) and a retirement period (the future period). In the current period, a consumer has income y, and he or she has zero income in the future period. For simplicity, suppose there are no taxes. The government decides that it wants to increase the amount that people save for retirement, and so it introduces a program to augment private savings. That is, for each unit of savings the consumer chooses in the current period, the government will add x units of savings, which will pay off x(1 + r) in the future period. a. What are the effects of the government program on the consumer's consumption in the current and future periods, and on savings? The government program will which results in both an income and substitution effect on consumption levels. The consumer will substitute and the income effect causes the consumer to ct of the government program is future consumption, future consumption for-current consumption savings. current consumption for future consumption ? Click to select your answer(s) and then click Check Answer. Check Answermathxl.com/Student/PlayerHomework.aspx?homeworkld=579524993&questionld=29&flushed=true&cld=6239023¢erwin=yes X ECN600 Intermediate Macroeconomics II (Section 01) jinxin li & | 10/01/20 4:29 AM Homework: Assignment 1B Save Score: 0 of 1 pt 31 of 37 (30 complete) HW Score: 60.85%, 22.51 of 37 pts 9.2 Problem 9 Question Help Suppose a credit market model in which each consumer has a working period (the current period) and a retirement period (the future period). In the current period, a consumer has income y, and he or she has zero income in the future period. For simplicity, suppose there are no taxes. The government decides that it wants to increase the amount that people save for retirement, and so it introduces a program to augment private savings. That is, for each unit of savings the consumer chooses in the current period, the government will add x units of savings, which will pay off x(1 + () in the future period. a. What are the effects of the government program on the consumer's consumption in the current and future periods, and on savings? The government program will which results in both an income and substitution effect on consumption levels. The consumer will substitute and the income effect causes the consumer to Therefore, the net effect of the government program is future consumption, savings consume more in both the current and future periods. consume less in the current period. consume more in the future period. consume less in both the current and future periods. ? Click to select your answer(s) and then click Check Answer. Check Answer Clear All part remainingCourse Ho mathxl.com/Student/PlayerHomework.aspx?homeworkld=579524993&questionld=29&flushed=true&cld=6239023¢erwin=yes X ECN600 Intermediate Macroeconomics II (Section 01) jinxin li | 10/01/20 4:29 AM Homework: Assignment 1B Save Score: 0 of 1 pt 31 of 37 (30 complete) HW Score: 60.85%, 22.51 of 37 pts 9.2 Problem 9 Question Help Suppose a credit market model in which each consumer has a working period (the current period) and a retirement period (the future period). In the current period, a consumer has income y, and he or she has zero income in the future period. For simplicity, suppose there are no taxes. The government decides that it wants to increase the amount that people save for retirement, and so it introduces a program to augment private savings. That is, for each unit of savings the consumer chooses in the current period, the government will add x units of savings, which will pay off x(1 + r) in the future period. a. What are the effects of the government program on the consumer's consumption in the current and future periods, and on savings? The government program will which results in both an income and substitution effect on consumption levels. The consumer will substitute and the income effect causes the consumer to Therefore, the net effect of the government program is future consumption, V current consumption, and savings a decrease in an undetermined change in an increase in ? Click to select your answer(s) and then click Check Answer. Check Answer part Clear All 1 remainingCourse Hol Do Homework - jinxin li - Google Chrome mathxl.com/Student/PlayerHomework.aspx?homeworkld=579524993&questionld=29&flushed=true&cld=6239023¢erwin=yes X ECN600 Intermediate Macroeconomics II (Section 01) jinxin li & | 10/01/20 4:29 AM Homework: Assignment 1B Save dy Score: 0 of 1 pt 31 of 37 (30 complete) HW Score: 60.85%, 22.51 of 37 pts 9.2 Problem 9 Question Help Suppose a credit market model in which each consumer has a working period (the current period) and a retirement period (the future period). In the current period, a consumer has income y, and he or she has zero income in the future period. For simplicity, suppose there are no taxes. The government decides that it wants to increase the amount that people save for retirement, and so it introduces a program to augment private savings. That is, for each unit of savings the consumer chooses in the current period, the government will add x units of savings, which will pay off x(1 + r) in the future period. a. What are the effects of the government program on the consumer's consumption in the current and future periods, and on savings? The government program will which results in both an income and substitution effect on consumption levels. The consumer will substitute and the income effect causes the consumer to Therefore, the net effect of the government program is future consumption, current consumption, and Savings. a decrease in an undetermined change in an increase in 2 Click to select your answer(s) and then click Check Answer. Clear All Check Answer artCourse Ho P Do Homework - jinxin li - Google Chrome mathxl.com/Student/PlayerHomework.aspx?homeworkld=579524993&questionld=29&flushed=true&cld=6239023¢erwin=yes X ECN600 Intermediate Macroeconomics II (Section 01) jinxin li & | 10/01/20 4:29 AM Homework: Assignment 1B Save Score: 0 of 1 pt 31 of 37 (30 complete) HW Score: 60.85%, 22.51 of 37 pts 9.2 Problem 9 Question Help Suppose a credit market model in which each consumer has a working period (the current period) and a retirement period (the future period). In the current period, a consumer has income y, and he or she has zero income in the future period. For simplicity, suppose there are no taxes. The government decides that it wants to increase the amount that people save for retirement, and so it introduces a program to augment private savings. That is, for each unit of savings the consumer chooses in the current period, the government will add x units of savings, which will pay off x(1 + r) in the future period. a. What are the effects of the government program on the consumer's consumption in the current and future periods, and on savings? The government program will which results in both an income and substitution effect on consumption levels. The consumer will substitute and the income effect causes the consumer to Therefore, the net effect of the government program is future consumption, current consumption, and savings an undetermined change in an increase in a decrease in ? Click to select your answer(s) and then click Check