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Use an ISLM model to analyse the effects of an increase in government expenditures on
the interest rate and
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- Analyze and interpret the following diagram in your own words Diagram Showing the Disposable Personal Income and Consumption $2,000 Consumption function E 1,500 AC= $400 1,000 C-AYd = $500 500 300 $500 1,000 1,500 2,000 Disposable personal income per period (billions of dollars) Consumption per period (billions of dollars)What is the relative importance of investment spending (I) in aggreagte demand and some factors that affect it?2. Saving and investment in the national income accounts The following table contains data for a hypothetical closed economy that uses the dollar as its currency. Suppose GDP in this country is $900 million. Enter the amount for government purchases. National Income Account Government Purchases (G) Taxes minus Transfer Payments (T) Consumption (C) Investment (1) National Saving (S) = Complete the following table by using national income accounting identities to calculate national saving. In your calculations, use data from the preceding table. = Value (Millions of dollars) $ 325 375 275 million
- Graphically illustrate the aggregate consumption and saving functions. ExplainWhat does disposable income measure? the income households have from investment income such as dividends and capital gains the income households have to spend after paying taxes the income households have to spend before paying taxes the market value of total output 20 20Aggregate Income, Aggregate Consumption, Aggregate Saving, The value of the MPC is (Round your response to one decimal place.) Y C S $0 $200 $-200 100 250 -150 200 300 -100 300 350 -50 400 400 0 500 450 50 600 500 100
- Graphically illustrate the aggregate consumption and saving functions. Explain these functions with at least 200 words. You may give examples.What is general government final consumption reflecting in terms of GDP of a country? What it indicates when the value is high or low?What is the value of multiplier?
- Suppose GDP in this country is $480 million. National Income Account Value (Millions of dollars) Government Purchases (GG) 150 Taxes minus Transfer Payments (TT) 180 Consumption (CC) 225 Investment (II) 105 Complete the following table by using national income accounting identities to calculate private and public saving. In your calculations, use data from the initial table. Private SavingPrivate Saving = (YTI, TG, YCT) = = ?million Public SavingPublic Saving = = (CT, TG, YCT, YTI) = = $millionHow does the increase in interest rates raise the chances of a recession? How can we expect the increase in interest rates to affect the consumption of the poorest 20% and richest 20% of households?If there is an increase in the personal income tax rate, and people do not receive a pay increase, then disposable income will... decrease or increase Therefore, we can expect consumption spending to... decrease or increase and private saving to..... increase or decrease .
