Question 1 If h = 100 and G =10. Find the equilibrium levels of the real wage (w), consumption (c), leisure (l), and output (Y). Question 2…

Question 1

If h = 100 and G =10. Find the equilibrium levels of the real wage (w), consumption (c), leisure (l), and

output (Y).

Question 2

Continuing from Question 1:

a) Find the relationship between total tax revenue and the tax rate if G = tWN.

b) Find the impact of a change in the production function to:

 
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