Initially, the economy is in long-run equilibrium. aggregate demand then shifts leftward by $50 billion. the government wants to increase its spending in order to avoid a recession. if the crowding-out effect is always one-third as strong as the multiplier effect, and if the mpc equals 0.6, then by how much do government purchases have to increase in order to offset the $50 billion leftward shift?

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Dominic is the founder of an innovative "impromptu catering" business that provides elegant, healthy party food and decorations on less than 24 hours' notice. the company has grown by over 150 percent in the past year. dominic credits some of the company's success to studying the strategies of prominent social entrepreneurs, such as wikipedia's jimmy wales. what can dominic do to exemplify the social entrepreneurship model?

Andy purchases only two goods, apples (a) and kumquats (k). he has an income of $125 and can buy apples at $5 per pound and kumquats at $5 per pound. his utility function is u(a, k) = 6a + 2k. what is his marginal utility for apples and his marginal utility for kumquats? andy's marginal utility for apples (mu subscript a) is mu subscript aequals 6 and his marginal utility for kumquats (mu subscript k) is