ECMS6212/d - Expansionary Monetary And Contractionary Monetary Policy - Progressive Direct And Indirect Tax - Economics Assignment Help

Assignment Task -

Q.1. An increase in the budget deficit is the result of

Q.2. In the base year, a country produced 50 units of output at a price of R6,00 each for a nominal GDP of R300. This year it produces 60 units of output at a price of R8,00 each. What is the percentage change in real GDP since the base year?

Q.3. Which of the following statements about Fiscal Policy is INCORRECT?

Q.4. If the inflation rate is 6% and Susan receives a 6% increase in income, then, over the year, Susan’s

Referencing Rubric :

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Q.2.1 Calculate the level of autonomous spending in this economy.

Q.2.2 Calculate the size of the multiplier

Q.2.3 Calculate the equilibrium level of income

Q.2.4 Calculate the tax revenue to the government of this country when the economy remains in equilibrium.

Q.2.5 Calculate what the new equilibrium income should be if the government of this country decides to cancel all taxes, implying the tax rate would now be 0%.

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