28 Dec 3. Andrew’s problem. An econ
3. Andrew’s problem. An economy produces three goods: cars, guns, and blueberries. The price of each is $2.
(a) Households buy 5 houses and 45 apples, eating them. The government buys 5 guns. There is no other economic activity. What are the values of the different components of GDP (consumption, investment, government spending, exports/imports)?
(b) The next year, households buy 5 houses and 45 apples. The government buys 5 guns. Farmers take the seeds from 5 more apples and plant them. Households then sell 5 apples to France for $2 each and buy 5 bananas from Mexico for $4 each, eating them too. What are the values of the components of GDP?
(c) Return to the economy in part 3a. The government notices that the two richest households consume 20 apples each, while the ten poorest consume one each. It levies a tax of 15 apples on each of the rich households, and gives 3 apples each to the 10 poorest households. All other purchases by households and the government are the same as in (a). Calc
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteEdu. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
Do you need help with this question?
Get assignment help from WriteEdu.com Paper Writing Website and forget about your problems.
WriteEdu provides custom & cheap essay writing 100% original, plagiarism free essays, assignments & dissertations.
With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Chat with us today! We are always waiting to answer all your questions.