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Suppose the consumption function is: C = a1 Yd a2 WRE/S a3CC Where all the a’s (the sensitivity parameters) are greater than zero. Initial conditions: Let a1 = 0.60, a2 = 0.04, a3 = 0.5, WRE/S = 18,000: CC = 90 Solve for C in terms of Yd. Select the correct equation below. Use the equation you found in #1 and let Yd = 2000. C is equal to Suppose that the stock market rallies so that WRE/S increases to 22,000. Additionally, consumer confidence (CC) rises to 100. Re-solve for C in terms of Yd. S...
ECON 104 HOMEWORK 1 QUESTION AND ANSWERS | GRADED A
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Suppose the consumption function is: C = a1 Yd a2 WRE/S a3CC Where all the a’s (the sensitivity parameters) are greater than zero. Initial conditions: Let a1 = 0.60, a2 = 0.04, a3 = 0.5, WRE/S = 18,000: CC = 90 Solve for C in terms of Yd. Select the correct equation below. Use the equation you found in #1 and let Yd = 2000. C is equal to Suppose that the stock market rallies so that WRE/S increases to 22,000. Additionally, consumer confidence (CC) rises to 100. Re-solve for C in terms of Yd. S...
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