Project description
Assessment 1:
Note: This is an individual assessment. Please provide a neat diagram to explain your answer in each question. You are required to answer each question as follows:
1.Give an introduction to the question and explain all key terms
2.Give a graft, label the axes properly and identify all the curves
3.Give a brief description of the changes and outcomes as indicated by the graft.
The maximum possible marks to be awarded to you are 40 marks.
Maximum marks: 40 marks
1.On the graft below, draw the consumption function C=$150+0.8YD.
Consumption is $billions per year.
Disposable income is $100 billion per year.
Answer the following questions:
At what level of income do households begin to save? Indicate the point on the graph with the letter A.
By how much does consumption increase when income rises $200 beyond point A? Indicate this new level of consumption with point B.
(15 marks)
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2.Fiscal and monetary tools are used to fix the macro economy. Briefly explain how might a tax cut affect both AD and AS? (10 marks)
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3.One of the goals of a Federated Government is to stimulate the economy. This may be achieved in three distinct steps. You are required to use 3 different grafts to indicate these three steps. (15 marks).
Instruction files
assessment_1_new_question.docx(86,18 KiB)
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