Assume that the full-empinyment level of GDP is $10,000. The current level of GDP is $8,000. Answer the following questions a. Does this economy have any cyclical unemployment? Explain. b. If the MPC is.8, what minimum decrease in taxes is needed to reach full employment? c. If the MPC is.8, what minimum increase in government spending is needed to reach full employment? d. Are your answers to questions b and c numerically identical? If not, explain why? e. Could an equal increase in government spending and in taxes be used to reach full employment GDP? If so, what amount?

Answers

Answer 1

The full employment level of GDP has various aspects such as cyclical unemployment, full employment, etc.

a. Yes, this economy has cyclical unemployment.

b. The minimum decrease of $2,500 in taxes will lead to an increase of $2,000 in GDP, which is enough to reach full employment.

c. The increase of $2,500 in government spending will lead to an increase of $2,000 in GDP, which is enough to reach full employment.

d. No, the answers to questions b and c are not numerically identical.

e. Yes, an equal increase in government spending and taxes could be used to reach full employment GDP.

Explanation:

a. Cyclical unemployment occurs when the level of GDP is lower than the full employment level, as it is in this case.

The full employment level of GDP is $10,000 and the current level of GDP is $8,000, meaning that the economy has a shortfall of $2,000. This results in a shortage of demand for labor, leading to a rise in cyclical unemployment.

b. The minimum decrease in taxes necessary to reach full employment GDP is $2,500. This is because the MPC is 0.8, meaning that a decrease in taxes of $1 will lead to an increase in GDP of $0.80.

c. The minimum increase in government spending necessary to reach full employment GDP is $2,500. This is because the MPC is 0.8, meaning that an increase in government spending of $1 will lead to an increase in GDP of $0.80.

d. This is because the magnitude of the decrease in taxes and the increase in government spending needed to reach full employment will depend on the level of the MPC.

In this case, the MPC is 0.8, so the minimum decrease in taxes and the minimum increase in government spending needed to reach full employment are both $2,500.

e. The amount of the increase would need to be $2,500, as this is the amount needed to offset the current GDP shortfall of $2,000.

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Related Questions

Ralph Waldo Emerson predicted what the future of the United States would look like if the country tried to take over part of Mexico. What quotes resonates with his ideas?

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"All America is taking its rise out of Mexico," Emerson wrote.

Ralph Waldo Emerson, one of the greatest American poets, predicted that the future of the United States would be bleak if the country attempted to take over a part of Mexico."All Americans are thus assimilating Mexico with themselves, and becoming Mexicanized by it."This quote resonates with Emerson's ideas because he believed that the United States' aggressive expansionist policies would eventually lead to its downfall. He believed that the country's quest for the territorial acquisition was misguided and would ultimately cause more harm than good. Emerson was critical of the United States imperial ambitions and believed that the country should focus on cultivating a culture of self-reliance and individualism rather than seeking to dominate other nations.

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mrs. grundy believes that boarding schools provide the best education because after attending such a school, she found herself well prepared for college. the fallacy in her thinking is

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Mrs Grundy believes that boarding schools provide the best education because after attending such a school, she found herself well-prepared for college. The fallacy in her thinking is the "hasty generalization".

What is a Hasty generalization?

A hasty generalization is a fallacy in which a conclusion is reached based on insufficient or incomplete information. They are based on anecdotal or isolated evidence. It's also called an insufficient sample, a faulty generalization, a biased generalization, or jumping to a conclusion.

There is a lack of evidence to back up Mrs Grundy's assertion since her own experience is just one out of many possible experiences at a boarding school. Another reason that shows her argument is a fallacy is that her experience might not be universal. She is merely assuming that everyone will have a similar experience in a boarding school, which is not necessarily the case.

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Societies decide who should get the goods they produce by:
A. making sure all citizens have their most important needs met.
B. considering which citizens should get their wants fulfilled.
• c. preventing any group of citizens from fulfilling all of its wants.
D. making sure entrepreneurs always have their needs fulfilled.


The answer is
B

Answers

Societies decide who should get the goods they produce by B. considering which citizens should get their wants fulfilled.

How do societies decide what to produce ?

Societies decide who should get the goods they produce by ensuring that all citizens have their most important needs met. This can be achieved through various means, such as providing basic necessities like food, shelter, and healthcare to all citizens, implementing social safety net programs to assist those in need, and ensuring that wealth and resources are distributed fairly across society.

The goal is to ensure that all members of society have access to the goods and services they need to live fulfilling and productive lives, rather than prioritizing the wants of a select few.

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the concept of face refers to group of answer choices the public self image that every member of society wants to claim for himself or herself a psychological image that can be granted and lost and fought for and presented as a gift the projected image of one's self in a relational situation all of these

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The concept of face refers to the projected image of one's self in a relational situation. Face is a fundamental aspect of social interaction, particularly in cultures that emphasize social harmony and collective values. Hence option c. is correct.

What is the concept of face?

The projected image of one's self in a relational situation refers to the concept of face. A public self-image that every member of society wants to claim for himself or herself is another option.

People seek to present themselves in a favourable light in social settings, and this image is created by how people react to them. This favourable image, or face, can be lost, given, and fought for by individuals.

Face is an important aspect of social life in many cultures, particularly those that emphasize social harmony and collective values. Hence option c. is correct.

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remark made by actor to the audience, unheard by other actors 2. a movement that breaks with traditional conventions 3. purge of pity and fear resulting from tragedy 4. group of masked actors who sing, dance, and comment on

Answers

1. The remark made by an actor to the audience is known as an aside.
2. Avant-garde is a movement that breaks with traditional conventions.
3. A catharsis is the purge of pity and fear resulting from tragedy.
4. A chorus is a group of masked actors who sing, dance, and comment on the moral implications.

Drama terms refer to the specific vocabulary and concepts used in the world of theatre and performance. They include words and phrases that are used to describe the different elements of a play.

Here are some common drama terms:

Act: A major division in a play, similar to a chapter in a book.

Scene: A smaller division within an act, usually defined by a change in time or location.

Dialogue: The conversation between characters in a play.

Monologue: A long speech given by one character to other characters on stage.

Soliloquy: A speech given by a character alone on stage, revealing their inner thoughts and feelings.

Aside: A remark made by a character to the audience that is unheard by other characters on stage.

Characterization: The techniques used by a playwright or actor to create a character, such as dialogue, actions, and costume.

Protagonist: The main character in a play, often involved in a conflict or struggle.

Antagonist: The character or force that opposes the protagonist in a play.

Plot: The sequence of events that make up the story of a play.

Stage directions: Instructions in a play that describe the setting, characters' movements, and other elements of the performance.

Dramatic irony: When the audience knows something that the characters on stage do not.

Tragedy: A play with a serious and often sad ending, typically involving the downfall of the protagonist.

Comedy: A play with a happy ending, typically involving humorous situations and characters.

Set design: The physical space and objects on stage that create the setting for the play.

Catharsis: describes the release of strong emotions, such as pity, fear, or sadness, that the audience experiences when watching a tragic play.

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davon watched his father recoil from a snake in fear. now he is afraid of snakes. this apparent acquisition of fear of snakes is an example of: group of answer choices modeling. response discrimination. escape response. stimulus generalization.

Answers

The final answer are acquisition of fear of snakes that is exhibited by Davon after watching his father recoil from a snake in fear is an example of stimulus generalization. Stimulus generalization is the process by which stimuli similar to the original conditioned stimulus trigger the same conditioned response.

When an organism generalizes a learned response to a new stimulus that is similar to the original, it is known as stimulus generalization. For example, a rat that has been taught to fear a particular tone might also fear other, somewhat different tones.

In this case, Davon witnessed his father's fear of a snake and generalizes his father's fear of snakes to all snakes as a result of the similar characteristics they share. When a person acquires a phobia of an object or situation, it's often as a result of stimulus generalization.

When a person with arachnophobia encounters a spider, for example, their fear response is triggered. The fear response is then generalized to any object or situation that resembles a spider in some way. This may occur when the person comes into contact with cobwebs, for example.

The correct option is stimulus generalization.

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What is the tolerance range of an organism?

Answers

The tolerance range of an organism refers to the range of environmental conditions in which it can survive and reproduce.

These environmental conditions can include factors such as temperature, moisture, pH, light, nutrients, and other physical and chemical variables.

Each organism has its unique tolerance range, which can vary depending on factors such as genetic makeup, developmental stage, and past environmental experiences. Some organisms have very narrow tolerance ranges and can only survive in very specific environmental conditions, while others have broad tolerance ranges and can survive in a wide variety of conditions.

The tolerance range of an organism refers to the range of environmental conditions in which it can survive and reproduce.

Understanding an organism's tolerance range is important for predicting how it will respond to changes in its environment, such as those caused by climate change, pollution, or habitat destruction. By studying an organism's tolerance range, scientists can gain insights into how it might adapt to changing environmental conditions or how it might be affected by human activities.

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1
Select ALL the correct answers.

Which three conditions must be met for someone to run for House of Representatives?

A. make at least $50,000 per year
B. born in the United States
C. have at least a Masters Degree
E. be at least 25 years of age
F. Be a U.S. Citizen for 7 years minimum
G. live in the state they represent
Reset

Answers

Answer:

E, F, and G

Explanation:

Legislative Branch approved

All of the following are social-cognitive critiques of the trait approach to personality EXCEPT that A) there are not enough traits to describe the many ways in which people behave. B) trait approaches overestimate the consistency of behaviors across situations. C) there are only modest correlations between traits and the behaviors they predict. D) we perceive people’s traits to be more consistent than they actually are

Answers

All of the following are social-cognitive critiques of the trait approach to personality EXCEPT that there are not enough traits to describe the many ways in which people behave. Hence, option A is correct.

The social-cognitive theory is frequently criticized for not being a comprehensive theory. This suggests that the many components of the theory could not be related. For instance, according to the social-cognitive perspective, researchers have not yet discovered a relationship between observational learning and self-efficacy.

According to the social cognitive theory, which is applied to psychology, education, and communication, a person's knowledge acquisition might be in part directly tied to how they see other people in the setting of social experiences, and outside media influences.

Human behavior is described by social cognitive theory as a triadic, dynamic, and reciprocal interaction of individual characteristics, behavior, and environment. This idea states that each of these three variables independently determines an individual's behavior.

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people from every nation rely on the same petroleum and steel to drive their cars and build their homes. these two products are examples of needs. multiple choice homogenous bundled basic universal

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People from every nation rely on the same petroleum and steel to drive their cars and build their homes. These two products are examples of what type of need?

These two products are examples of universal need. What is petroleum? Petroleum is a viscous, homogenous, and a naturally occurring liquid consisting of complex hydrocarbons and various organic compounds. Petroleum or crude oil is a mixture of hydrocarbons that are mainly found beneath the earth's surface in sedimentary rocks.What is homogenous?A homogenous mixture is a blend of substances that have been mixed thoroughly and evenly distributed throughout the mixture. It is the same throughout its entire composition; its composition is uniform throughout. It may contain a single phase or multiple phases. Click here for more information about Petroleum.

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Which of the following three people is most closely aligned with the theory and practice of volunteerism? A. Tessie Mobley B. Paul Robeson C. Herbert Hoover

Answers

Tessie Mobley is most closely aligned with the theory and practice of volunteerism among the three options given. Option A is the correct  answer.

Volunteerism is the practice of individuals freely offering their time, skills, and energy to a cause or organization without expectation of financial compensation. Among the three individuals mentioned, Tessie Mobley is most closely associated with volunteerism. Mobley was a social activist and community organizer who dedicated her life to volunteer work, particularly in advocating for the rights of African American women and children in the United States. She was a key figure in the civil rights movement and worked tirelessly to improve the lives of those in her community.

Paul Robeson was a renowned singer, actor, and political activist who fought against racism and injustice throughout his career. While he was known for his activism, he was not primarily associated with volunteerism. Herbert Hoover was a politician who served as President of the United States from 1929 to 1933. Although he supported volunteerism as a way to address social issues, he is more closely associated with economic policies and responses to the Great Depression.

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The difference between theory and philosophy is that theory provides a belief system about how the world works while philosophy is based on principles used to explain behavior
True or False

Answers

The given statement “The difference between theory and philosophy is that theory provides a belief system about how the world works while philosophy is based on principles used to explain behavior” is true.

Theory is a coherent group of general propositions used as principles of explanation for a class of phenomena. It is an attempt to give meaning to facts and observations. The theory provides a belief system about how the world works. Theories are commonly used in scientific and academic contexts and are based on systematic observations and empirical data.

Philosophy is the study of basic ideas about knowledge, reality, and existence. It is based on principles used to explain behavior. It is a way of understanding the world and the human experience. Philosophers use logic, argumentation, and analysis to explore a wide range of questions about life, existence, and the nature of reality.

Hence the given statement is true.

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