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1 pages/≈275 words
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APA
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Mathematics & Economics
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English (U.S.)
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Topic:
Keynesian Economics: The Income-Expenditure Model
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This assignment can be found in Google Docs: Macroeconomics Assignment: Problem Set — The Income-Expenditure Model
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The Income-Expenditure Problem Set
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Keynesian Economics
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Course
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Income–Expenditure Model
1. Consider the following information in the table below.
Income (Y)
Consumption (C)
Savings (S)
1000
950
50
1100
1040
60
1200
1130
70
1300
1220
80
Given this data the consumption function can be written as:
Y = 1.11C- 55.6
2. Consider the following information for Slovenia.
Category
Amount
Autonomous Consumption
250
MPC
0.9
Tax Rate
0.25
Investment
800
Government Expenditure
100
Exports
20
MPI
0.05
What is the equilibrium level of GDP in the income-expenditure model?
AE = Y
Y = C + I+G +X –M; therefore,
Y = 250 + 0.9 (0.75Y) +100+ 800 + 20 – 0.05Y
Y = 1170 + 0.625 Y
0.325Y = 1170
Y = 3,600
AE = 3,600 (equilibrium level of GDP)
3. Consider the following information in the table below.
Income (Y)
Imports (M)
1000
200
1100
220
1200
240
1300
260
Given this data, what is Marginal Propensity to Import (MPI)?
SUMMARY OUTPUT
Regression Statistics
Multiple R
1
R Square
1
Adjusted R Square
1
Standard Error
0
Observations
4
...
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