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Q. Answer the following question using the Keynesian Model of a closed economy. Suppose the Federal government would like to increase output in the short-run and will engage in expansionary fiscal policy. The President contacts you, the Chair of the Federal Reserve, and asks you to take action to keep interest rates close to where they currently are.
a) What action do you take? Illustrate and explain the movements of the IS and LM curves.
b) Illustrate and explain the movement of the aggregate demand and aggregate supply curve both in the short and long run. What potential long term effect should you warn the President about?
Find the equilibrium price and quantity after the shift of the demand curve.
Determine the cost to the government of buying firms unsold units
The People's Bank of China, the country's central bank, raised the reserve requirements of its top commercial banks to put a squeeze on the credit market
How many tickets to sell to maximize total welfare.
The impossible trinity refers to the idea that a country can simultaneously pursue only two of the three following policies: free international-capital flows, monetary policy for domestic stabilization, and a fixed exchange rate.
Compare the rationale of the Reagan administration for the 1981 tax reductions with the rationale behind the Kennedy-Johnson tax cut of 1964
What combination of T and M will you choose? Suppose that the price of day trip rises to $80. How will this change your decision making?
Explain what occurs when a new technology makes another one obsolete in terms of economic profit?
Idea that a country can simultaneously pursue only two of the three following policies: free international-capital flows, monetary policy for domestic stabilization, and a fixed exchange rate.
What data the organization needs in order to make good decisions and how the use of macroeconomic indicators enables organizations to improve their forecasts of the key decision-making data.
Suppose that the participation variable, voucher, is completely randomized in the sense that it is independent of both observed and unobserved factors that can affect the test score.
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
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