# Spring17 Econ104 HW1 - Points Awarded 86.00 Points Missed...

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Chapter 1 / Exercise 1
Microeconomics
Arnold
Expert Verified
Table for Individual Question FeedbackPoints Earned:3.0/3.0
2.Use the equation you found in #1 and let Yd= 2000. C is equal to .Table for Individual Question FeedbackPoints Earned:3.0/3.0
1965
##### We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
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Chapter 1 / Exercise 1
Microeconomics
Arnold
Expert Verified
3.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. Select the correct equation below.
Table for Individual Question FeedbackPoints Earned:3.0/3.0
4.Now suppose disposable income (Yd) falls due to a tax increase (Uncle Sam is trying to balance the budget) to 1800. Solve for the level of consumption using the equation you found in #3. Consumption (C) is equal
.Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):20105.Now we will calculate the level of consumption that would have occurred if Uncle Sam did not raise taxes. In other words, use the equation you found in question 3, but keep Ydat its original value of 2000. Consumption (C) is equal to .Table for Individual Question FeedbackPoints Earned:3.0/3.020102130
6.Look at the consumption values you calculated in #2 and #4. The percent change in consumption between those values is %NOTE:There is no graphing component to be collected for this homework. However, you should be comfortable graphing the equations you found in #1 and #3. You should also be able to plot the points you found in #2, #4 and #5.Feedback:NOTE: There is no graphing component to be collected for this homework. However, you should be comfortable graphing the equations you found in #1 and #3. You should also be able to plot the points you found in #2, #4 and #5.Table for Individual Question FeedbackPoints Earned:0.0/3.0
8.4