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Assignment 2 Instructions

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Added on  2020-01-23

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If you do not have Microsoft Word on your computer then please use the version which can be found here: http://www1.rmit.edu.au/students/mydesktop. If you do not have Microsoft Word on your computer then please use the version which can be found here: http://www1.rmit.edu.au/students/mydesktop. This webpage provides instructions about how to go about this: http://www1.rmit.edu.au/students/

Assignment 2 Instructions

   Added on 2020-01-23

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Assignment 2 Instructions: Please read the instructions below before attempting the assignment.Answer all questions. You must write your answers in this document and submit it as your assignment. Your answers must be placed in the boxes provided. Adjust the box size as required. Make sure your answers are tidy and clear and show all working. If you do not have Microsoft Word on your computer then please use the version which can be found here: http://www1.rmit.edu.au/students/mydesktop.If assignments are late then marks will be deducted at 10% of the total possible mark per day.Of course, if you have encountered some trouble and have been unable to meet the deadlinethen please apply for Special Consideration. This webpage provides instructions about how togo about this: http://www1.rmit.edu.au/students/specialconsideration. This is an individual assignment. That means it must be your own work and you can’t copy orget help from anyone. However, it is fine to discuss the issues, ideas and how you mayapproach the questions with fellow students. By submitting this assignment you are declaringthat: 1.I hold a copy of this assignment, which can be produced if the original is lost ordamaged.2.This assignment is my original work and no part of it has been copied from any otherstudent’s work or from any other source except where due acknowledgment is made.3.No part of this assignment has been written for me by any other person except wheresuch collaboration has been authorised by the lecturer/teacher concerned and isclearly acknowledged in the assignment. 4.I have not previously submitted or am currently submitting this work for any othercourse/unit.5.This work may be reproduced and/or communicated for the purpose of detectingplagiarism.6.I give permission for a copy of my marked work to be retained by the School forreview by external examiners.7.I understand that plagiarism is the presentation of the work, ideas or creations ofanother person as though they were my own. It is a form of cheating and is a veryserious academic offence that may lead to expulsion from the University. Plagiarisedmaterial can be drawn from, and presented in, written, graphic and visual form,including electronic data, and oral presentations. Plagiarism occurs when the origin ofthe material used is not appropriately cited.
Assignment 2 Instructions_1
8.Enabling plagiarism is a similarly serious offence. It is the act of assisting or allowinganother person to plagiarise or to copy your work. It will be dealt with in the sameway as plagiarism. You can find information about the RMIT policies and procedures around plagiarism here:http://www1.rmit.edu.au/browse;ID=sg4yfqzod48g1.
Assignment 2 Instructions_2
Question 1 (2 + 2 + 2 + 2 + 2 = 10 marks)Exhibit AExhibit BExhibit CC=100+cYD❑YD❑=Y−tY+ ́TRc=0.8t=0.25 ́I=200 ́G=300 ́TR=100 ́NX=0BS=tY−G− ́TRY❑¿=2000I= ́I−bi ́I=300b=20M/P=800L=620+kY−hik=0.2h=20(a)For the economy shown in Exhibit A calculate the expenditure multiplier and equilibrium income.Expenditure multiplier= Change in total output/change in expenditure = 0.8/200=0.04Expenditure multiplier is the one of the important tool that is used to identify the rate at which output is changing in the nation due to change in the expenditure. With change in the level of expenditure output may change at rapid pace. If same happened then it means that economy of the nation is changing at rapid pace (Schumacher, 2011). Contrary to this, in case it is identified that there is verylow proportion of both variables then it means that total number of units produced in the nation are less then rate of change in expenditure. This means nation is import intensive in nature. (b)For the economy shown in Exhibit A calculate the budget surplus (BS). Identify the structuraland cyclical components of the BS with regard to the potential output level (Y❑¿=2000). BS=tY−G− ́TR=0.25*2000-300-100=100Budget surplus refers to the gap that exists between government income and expenditure. If income is
Assignment 2 Instructions_3

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