# Assignment

Computing Skills Assignment Help

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# ECO202

## individual Assignment

Due Date: 28 May 2018, 5 p.m. Monday

Total Mark: 100 marks (30%)

General Rules and Requirements:

a) This assignment is weighted to 30%
b) Font type should be Times New Roman (size 12), paragraph spacing should be equal to 1.5.
c) An electronic copy of the assignment must be submitted via Turn-it-in

How to submit your report through Turin-it-in?
Step one:

Step two:
Step three:
Find ECO202 by using the following information and submit your report.
Class ID: 18083746
Enrollment Key: ECO202

Similarity rate must be lower than 20%, between 20%-40%, you will receive penalty on your report, higher than 40%, you will fail your report immediately.

You are allowed to submit your report many times unit the due date (28 May 2018, 8 p.m. Monday). You don’t need to delete previous report, you just need to resubmit it and the previous one will be replaced by the new one.

If you submit your report after the due date, you will receive 10% penalty on each day late unit zero mark.
No excuses including medical certificate will be accepted.
If you need any help: nathan@ee.edu.au

Good luck!
Question 1 (6 marks)
Following table are the data for the Australian economy (β=1.6) in four selected years. Using Okun’s law, fill in the missing data in the table.

YearActual Unemployment
Rate (%)Natural Unemployment
Rate (%)Potential
GDPReal GDP
2001(a)580007872
20025(b)81008100
200344.5(c)8266
2004458250(d)

Question 2 (8 marks)
An economy is described by the following equation
Cd=14400+0.5(Y-T)-40000r, Ip=8000-20000r,
G=7800, NX=1800, T=8000
Find the numerical equation relating planned aggregate expenditure (PAE) to output (Y) and to real interest rate (r).
The real interest rate is 0.133, find short-run equilibrium output.
Potential output, y*, equals 40,000. What real interest rate should be Reserve Bank set to bring the economy to full employment?

Question 3 (6 marks)
The demand for car in a country is given by D=12 000-200P, where P is the price of a car. Supply domestic car production is S=7000+50P.
Assuming economy is closed; find the equilibrium price and production of cars.

The economy opens to trade. The world price of cars is 18 units. Find the domestic quantities demanded and supplied, and the quantity of imports or exports. Who will favour the opening of the car market to trade, and who will oppose it?
The government imposes a tariff of one unit per car. Find the effects on domestic quantitative demanded and supplied, and on the quantity of import or export. Who will favour the imposition of the tariff and who will oppose it?

Question 4 (10 marks)
Use the following economic data to calculate private saving, public saving and national saving.
Household saving =20, business saving=40, government purchases of goods service=10, government transfers and interest payments=10, Tax collection=15, GDP=220.
GDP=600, Tax collection=120, Government transfers and interest payments=40, Consumption expenditures=450, Government budgets surplus=10

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