The model of aggregate demand and aggregate supply can be used to explain what would happen to the price level and output level of the economy in the short run if the government reduces taxes on imported consumer goods. This can be illustrated with a diagram.
In the diagram, the aggregate demand (AD) curve is downward sloping and the aggregate supply (AS) curve is upward sloping. The equilibrium price level is determined by the intersection of the two curves. Initially, the equilibrium price level is P1 and the equilibrium output level is Y1.
When the government reduces taxes on imported consumer goods, the aggregate demand curve shifts to the right. This shift is represented by the movement from AD1 to AD2 in the diagram. The new equilibrium price level is P2, which is lower than the original price level. The new equilibrium output level is Y2, which is higher than the original output level.
In summary, the reduction in taxes on imported consumer goods leads to a decrease in the price level and an increase in the output level in the short run. This is due to an increase in aggregate demand.
Well the Australian government is suppose to be doing something about it, not sitting back and talking about it. We need to start doing something here people!
pikachu
an increase in total investment by 85 cents
an increase in total investment by 85 cents
The Law of Equi-Marginal Utility is an extension to the law of diminishing marginal utility. The principle of equi-marginal utility explains the behavior of a consumer in distributing his limited income among various goods and services. This law states that how a consumer allocates his money income between various goods so as to obtain maximum satisfaction. The principle of equi-marginal utility is based on the following assumptions: (a) The wants of a consumer remain unchanged. (c) The prices of all goods are given and known to a consumer. (d) He is one of the many buyers in the sense that he is powerless to alter the market price. (e) He can spend his income in small amounts. (f) He acts rationally in the sense that he want maximum satisfaction (g) Utility is measured cardinally. This means that utility, or use of a good, can be expressed in terms of "units" or "utils". This utility is not only comparable but also quantifiable. Suppose there are two goods 'x' and 'y' on which the consumer has to spend his given income. The consumer's behavior is based on two factors: (a) Marginal Utilities of goods 'x' and 'y' by economist Aamir suhail Maitlo from shah abdul latif univercity .email address is aamirsuhail026@gmail.com
Consumer. A consumer is an individual or organization that uses products or services created by producers.
I suppose you mean why it was IMPORTANT to him. It was not until Pope Julius II commissioned Michelangelo to paint the ceiling.
The government is not suppose to provide for the general welfare, it is suppose to promote the general welfare. There is a big dfference.
They are the same i suppose
chips
Hahaha! do you happen to be doing a worksheet called Map Exercise: The Roman Empire?cuz i am too! haha(: well, maybe the slaves were imported to work for like the patricians? or maybe they were used in battle? as for the wild beasts...no clue.
I suppose crocodiles and alligators are two examples.
I suppose the USA launched itself with a revolutionary government. So did the Soviet Union. So did France.
Only those working for the federal government I suppose....?
A store retailer is considered the middle man in a sale; therefore, there are other levels of the sale to be considered. The retailer buys from the wholesaler then sells to the consumer. So, the order of design is theproduct/service, the wholesaler to the retailer to the consumer. The price the consumer pays suppose to cover the costs of the retailer, the wholesaler, and the product/service itself.
No. Frostwire is still legal presently.
Because the Pakistan government are sheltering them.