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Aggregate demand management refers to the changing of policy variables like government expenditures, taxation (fiscal policy tools) or money supply and interest rates (monetary policy tools) to attain a target level of GDP. Therefore a change in G, or T by policymakers always shifts AD not AS, hence the name aggregate demand management. Here is your fourth question that has five sections. Utilize the internet to answer these questions. Briefly describe the following touching upon similarities and differences 1.) Classical school of thought (short run vs. long run) 2.) Keynesian school of thought (short run vs. long run) 3.) Adaptive expectations (backward looking, see what happens than react) vs. rational expectations (forward looking, if think something will happen for sure in the future, you react now and do not wait to see what happens, if you do it will be too late). In the latter does it matter whether a policy change is anticipated early or unanticipated? 4.) Monetarist (this would be the in between case where SAS curve is upward sloping). How do workers suffer from “money illusion” 5.) When the Federal Reserve increases the money supply unexpectedly, what is the impact on the price level and RGDP in the short run and long run? How do your conclusions change depending on the schools of thought listed above? 6.) Why is there an inverse relationship between investment demand and interest rates?
Jimmy deposits $4,000 now, $2,500 3 years from now, and $5,000 6 years from now. Interest is 5% for the first 3 years and 7% for the last 3 years. How much money will be in the fund at the end of 6 years? What is the present worth of the fund? What i..
The job order and process costing systems are
Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in reponse to each of the following changes? Production function is Y=AK^1/3L^2/3
Outline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic.
Consider a piece-rate-tournament experiment like in the Niederle and Vesterlund paper but with groups of 2: 1 man and 1 woman, both of whom maximize expected value. Calculate the expected value payoffs from piece-rate and from tournament pay for men..
Explain how scarcity affects the following decision-makers: The president of the United States A business executive A city manager The mother of a baby.
In New Yotk, the demand for bottled spring water is given by Q = 121 − 1/2P . There is one known spring in town controlled by the bottler First Spring (FS). In other words, FS is a monopolist in the market for spring water. Suppose that consumers cre..
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers. Hull and Inverted V are located across the street from each other and can observe the prices posted on each other’s..
q1. how an airline executive might use tourism economics relating to passengers load factors ticket prices discounts
A probability distribution. The variance of a probability distribution is used to measure risk because a higher variance is associated with. In making decisions under risk
Explain the pros and cons of introducing an urban growth boundary. In your answer be sure to make clear the objective of such a boundary and its likely ramifications. Do you support the introduction of such a boundary in the Chicago urbanized area? D..
Latanya likes to talk on the telephone. We can represent her preferences with the utility function U(B, J) = 18B + 20J, where B and J are minutes of conversation per month with Bill and Jackie, respectively. If Latanya plans to use the phone for one ..
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