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Using aggregate supply and demand analysis, discuss how the following will affect the aggregate level of output and the price level in the economy. Use a SRAS curve. You need to determine whether the AD or SRAS curve will shift, in which direction it will shift, and how this will affect aggregate output and the price level.
a. A hurricane that destroys half the supply of goods produced in Florida.
b. An increase in the money supply.
If the required reserve ratio is 10% and $1,000 of new bank reserves are created by the Federal Reserve, what is the maximum potential increase in the quantity of money in the economic system (not just the money created by the banking system but the total money supply)? Why might the money supply not increase by the maximum possible amount? Maximum Potential Increase in the Money Supply = (1/r) x Monetary Base, where r is the required reserve ratio.
Suppose that demand for good increases and, at the same time, supply of the good decreases. What would happen in the market for the good?
If price elasticity equals one in absolute terms, it means:
The maximum price that a few of the consumers are willing to pay is $0.20 per pound of cheese, and the price floor is set at $0.17 per pound. With the price floor at $0.17 per pound of cheese, consumers buy 211 billion pounds of cheese. How much cons..
Suppose, initially, the interest rate parity condition holds. Then at some point, U.S. interest rates are 4 percent more than rates in the EU. Would you expect the dollar to appreciate or depreciate against the euro, and by how much?
AAPL current trades at around 100. You think the price at the end of the year will follow a uniform distribution centered at the current price, with a range of 40 points in either direction by the end of the year. You want to compare your assumption ..
Suppose that an industry has high fixed costs to enter but, other than that, is competitive. What will be the effect of the high fixed costs to the number of firms in the industry? To the firm size ? Is marginal cost higher or lower for a firm with h..
Two hundred paper mills compete in the paper market. The total cost of production (in dollars) for each mill is given by the formula TC = 500Qmill+ (Qmill)2 where Qmill indicates the mills annual production in thousands of tons. The marginal cost of ..
Could Clark estate file his lawsuit in a Federal District Court in New York?
Tammy was shopping in Save-a-Lot Grocery Store when Stewart, an employee, brushed Tammy’s ankle with a grocery cart. A short time later, while still shopping, Tammy told Stewart that he should say “Excuse me,” and then people would get out of his way..
A supermarket expects to sell 5000 boxes of rice in a year. Each box costs $2, and there is a fixed delivery charge of $50 per order. If it costs $2 to store a box for a year, what is the order size and how many times a year should the orders be plac..
The Big Pivot’s core argument is that three trends will drive business challenges and success: a hotter, scarcer, more open world. Do you agree with these core ideas of the book? Do these concepts from the book align with the reality of today? What i..
What are the economic functions that financial intermediaries perform that benefit society? In your answer, discuss the relationship of financial intermediaries and financial markets to the savings-investment process within an economy and to each oth..
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