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Question: A temporary TFP shock: Suppose the economy is hit with a temporary positive TFP shock. For example, suppose weather conditions are temporarily very favorable for agriculture.
(a) Analyze the effect of the shock in the labor market diagram of a standard DSGE model (with no sticky prices or wages). What is the effect on the real wage and employment in the short run?
(b) How would your answer change if there are sticky prices? Discuss how your answer relates to the impulse response functions shown in Figure.
Describe and explain performance trends of the economy. Research and explain Government's measures adopted to achieve the production output performance. Describe unemployment trends based on unemployment rates.
1.Provide an example of an environmental tax or marketable permit instrument that has been used in Canada. Evaluate the instrument in terms of its efficiency (or cost-effectiveness), equity, enforceability, and incentives created for polluters to inn..
Fast food workers have demonstrated in several cities over the last few months for a $15 minimum wage, often referred to as a "living wage." Lately McDonalds has previewed plans for automated customer ordering which will give the customer more abilit..
Extended Learning Exercise A truck was purchased four years ago for $65,000 to move raw materials and finished goods between a production facility.
During the 1990s government purchases of goods declined as portion of overall output, in part because of the end of the cold war. If we ignore trade and treat the U.S. as a closed economy, what would be the predicted long-run result of this shift on ..
greener grass company ggc competes with its main rival better lawns and gardens blg in the supply and installation of
Explain some of the tips on assessing job candidates. What arefive additional tips that you would add? Explain, in detail, why you would addeach additional tip. Minimum of 100 words per tip, for a minimum total of 500 words. APA Format. Please cite r..
consider a simple two person economy in which the two citizens curly and moe can produce two different goods butter and
Consider a new per-worker employment tax on workers (where previously there was no tax). Outline the consequences of this tax on the local labor market. Use appropriate, clear, and well-labeled diagrams. In your answer show (1) the burden of the tax ..
Suppose that the economy's production function is Y = 2K 2AN that the saving rate, s, is equal to 16%, and that the rate of depreciation, d, is equal to 10%. Suppose further that the number of workers grows at 2% per year and that the rate of te..
1. suppose a consumers preferences are represented by the utility function u minx4y. the price of y is py 2 and the
If the goal of the transit authority was to maximize total revenues, what is the new price it should set? Also, what would the total revenue raised in this new price scheme?
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