1. Itis known that the demand function for a product in the market shows that Qd = 7+ Pand the supply function (Qs) = 16-P. The product is subject to Rp. 3, - / unit. Specify: a. The equilibrium price and the amount of the equilibrium price in the market before and after the tax b. The amount of tax revenue by the government 2. Note that the consumption function is 40 million + 0.5Y. If the national income is Rp. 200 million, the amount of public savings is
1. Itis known that the demand function for a product in the market shows that Qd = 7+ Pand the supply function (Qs) = 16-P. The product is subject to Rp. 3, - / unit. Specify: a. The equilibrium price and the amount of the equilibrium price in the market before and after the tax b. The amount of tax revenue by the government 2. Note that the consumption function is 40 million + 0.5Y. If the national income is Rp. 200 million, the amount of public savings is
Chapter9: Demand-side Equilibrium: Unemployment Or Inflation?
Section9.A: The Simple Algebra Of Income Determination And The Multiplier
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