Y7

Macroeconomy1- Suppose you receive a one-time bonus of $10,000. Alternatively, you receive a $10,000 increase in your annual salary that will continue for the foreseeable future. Compare the marginal propensities to consume in each case and explain why they are the same or different. 2-A giant asteroid is heading toward Earth and is expected to come within 50,000 miles of Earth's center in January of 2030. It's a mile wide and will be traveling at speeds of up to 90,000 miles an hour. If the asteroid hits the planet, it could severely damage the oxygen level available.What are the likely effects on consumption spending prior to the asteroid's arrival?3-What if we expect to survive the asteroid, but find that our taxes significantly rise to help pay for the damage? What are the likely effects on the composition of GDP after the asteroid strike?4-The marginal propensity to consume for the nation as a whole is approximately 90 percent." What does this statement mean?