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1、Chapter11/ManagingAggregateDemand:FiscalPolicyChapter11ManagingAggregateDemand:FiscalPolicyTestYourself1.Consideraneconomyinwhichtaxcollectionsarealways$400andinwhichthefourcomponentsofaggregatedemandareasfollows:GDPTaxesDICIG(X–IM)1,360$400$960$720$200$500$301,4804001,080810200500
2、301,6004001,200900200500301,7204001,320990200500301,8404001,4401,08020050030Findtheequilibriumofthiseconomygraphically.Whatisthemarginalpropensitytoconsume?Whatisthemultiplier?WhatwouldhappentoequilibriumGDPifgovernmentpurchaseswerereducedby$60andthepricelevelremainedunchanged?©201
3、6CengageLearning.AllRightsReserved.Maynotbecopied,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.Chapter11/ManagingAggregateDemand:FiscalPolicyFIGURE1EquilibriumGDPi
4、s1,720(seediagram).Themarginalpropensitytoconsumeis0.75andthemultiplieris4.Ifgovernmentpurchasesfallby60,andthepricelevelisunchanged,GDPwouldfallby4×60=240,thatis,to1,480.1.Consideraneconomysimilartothatintheprecedingquestioninwhichinvestmentisalso$200,governmentpurchasesarealso$50
5、0,netexportsarealso$30,andthepricelevelisalsofixed.Buttaxesnowvarywithincome,andasaresult,theconsumptionschedulelookslikethefollowing:GDPTaxesDIC1,360$320$1,040$8101,4803601,1208701,6004001,2009301,7204401,2809901,8404801,3601,050©2016CengageLearning.AllRightsReserved.Maynotbecopie
6、d,scanned,orduplicated,inwholeorinpart,exceptforuseaspermittedinalicensedistributedwithacertainproductorserviceorotherwiseonapassword-protectedwebsiteforclassroomuse.Chapter11/ManagingAggregateDemand:FiscalPolicyFindtheequilibriumofthiseconomygraphically.Whatisthemarginalpropensity
7、toconsume?Whatisthemultiplier?WhatwouldhappentoequilibriumGDPifgovernmentpurchaseswerereducedby$60andthepricelevelremainedunchanged?GDPTaxesDisposableIncomeConsumptionTotalExpenditure1,3603201,0408101,5401,4803601,1208701,6001,6004001,2009301,6601,7204401,2809901,7201,8404801,3601,
8、0501,780FIGURE2ComparedtoQ
