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Economics
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29 Oct 2020

What is elasticity of savings?

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Microeconomics
Skill
Explain Changes in Elasticity
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Paramjeet Chawla
Paramjeet ChawlaLv8
29 Oct 2020
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Related questions

Consider a given increase in government spending financed by new debt so that taxes do not change. In the long run (using our neoclassical model),

a) The ___________ sensitive investment demand is to changes in the real interest rate, the _____________ the investment demand schedule. (more/less, steeper/flatter)

b) The ____________ sensitive private savings is to changes in the real interest rate, the ______________ the national savings schedule. (more/less, steeper/flatter)

c) An increase in G financed by new debt will cause the least amount of crowding out if the interest-rate elasticity (sensitivity) of investment demand is __________ and the interest-rate elasticity (sensitivity) of private savings is _____________. (high/low, high/low)

Which of the following groups are likely to have the highest tax elasticity of labor supply:

a) college students

b) single parents

c) primary earners in two-parent families

d) secondary earners in two-parent families

e) retired people with average savings accounts and monthly Social Security checks coming in

2. What percentage of a tax would consumers pay in the following situations? a. Price elasticity of demand is .5 and price elasticity of supply is 1. b. Price elasticity of demand is .5 and price elasticity of supply is .5. c. Price elasticity of demand is 1.5 and price elasticity of supply is .5.

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