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Joanne
Joanne, Tutor
Category: Homework
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Experience:  BSc (Hons) Political Science
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I need to get the answer to this before 9:00 pm eastern time

Resolved Question:

I need to get the answer to this before 9:00 pm eastern time today.

Assume the following open economy for Questions 1a, 1b, 1c and 1d below:
C = 300 + 0.80(Y – 125)
I = 150
G = 250
X =115
M = 125+.05Y

21a). Determine (solve for) the equilibrium level of income or GDP (Y).

21b). Determine the impact on income of a 50 increase in government spending from 250 to 300.

21c). Using the original data, compute the impact of a 50 decrease in taxes from 125 to 75.

21d). If the government seeks to raise income to 3,000, how much should it raise government spending?
Submitted: 4 years ago.
Category: Homework
Expert:  Jabi replied 4 years ago.
Hello dear client,

Thank you for requesting my help, i have started work on your question and will post the solution soon for you :)

-Jabi
Customer: replied 4 years ago.
Thank you for taking my question. I will await your answer.
Expert:  Jabi replied 4 years ago.
You will get reply ASAP.
Customer: replied 4 years ago.
The status says "We're waiting for you". Are you waiting for me to do something? If so what do I have to do?
Customer: replied 4 years ago.

Jabi,

I just notice I put M = 125+.05Y and it should be N = 125+.05Y

Customer: replied 4 years ago.
Relist: Other.
I asked to get the answer before 9:00 pm eastern time and still have not received it. I need the answer ASAP. If you cannot get it please let me know so I can move on to something different.
Customer: replied 4 years ago.
I need to know if anyone is going to answer this. If not please just let me know.
Expert:  Joanne replied 4 years ago.
THIS ANSWER IS LOCKED!

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Joanne, Tutor
Category: Homework
Satisfied Customers: 3632
Experience: BSc (Hons) Political Science
Joanne and 2 other Homework Specialists are ready to help you
Customer: replied 4 years ago.

Joanne,

In an earlier post I asked to have the "M" in the post changed to "N". Does it make a difference if I just change the "M" to "N" in the answer where it appears or will the whole answer change?

Expert:  Joanne replied 4 years ago.
From how the question is phrased, I don't think it does make a difference, probably a typo. N is usually used to refer to employment. In this case, the taxes part of the question suggests that M/N here refers to the imports.

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