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An economy has the following functions for its short run aggregate supply (SRAS): P=EP+(1/2)(Y-3), Okun's Law (OL): (Y-Ybar)=-4(u-un), and Phillips Curve (PC): π =Eπ -(1/5)(u-6). The economy begins at its natural rate of output with a stable price level equal to $5.
a) Output is at its natural level when the price level is equal to expectations. Calculate the natural rate of output in this economy. c.) Unemployment is at its natural rate when inflation is equal to its expectations. Calculate the natural rate of unemployment in this economy.
The Economist, Bureau of Labor/Statistics, Bureau of Economic Analysis etc... or any peer reviewed article for the UOP library to analyze the week three Learning Objective of; "... how the Federal Reserve controls the quantity of money."
Explain the difference between a short run Phillips curve and a long run Phillips curve with an example
in 2008 aig was at risk of declaring bankruptcy and defaulting on its debt. as a result the u.s. government stepped in
What is your opinion of moral hazard concerns? What safeguards have been put in place since the 2008 crisis? Should they be relaxed, today?
In economics, we usually assume that the manager's goal is to: Answer Maximize the firm's sales. Minimize the firm's costs. Maximize the firm's profit. Maximize the firm's stock price.
Utilize a various example from homes and cars. Be creative. We make these kinds of choices everyday.
Ceteris paribus, Diet Cola Brand X and Diet Cola Brand Y are substitutes in consumption. The price of Diet Cola Brand Y falls. a. What happens to the demand for Diet Cola Brand X? b. What happens to the demand for Diet Cola Brand Y?
Discuss the role that increasing life expectancy over the last century has on the types of diseases and conditions affecting mankind.
Suppose that the natural rate of unemployment in a particular year is 5 percent and the actual rate of unemployment is 9 percent. Use Okun's law to determine the size of the GDP gap in percentage-point terms. If the potential GDP is $500 billion i..
Analyze the macroeconomic factors that led to the 2007-2009 recession - How were GDP, inflation, and unemployment affected during the recession, and how does the model show this?
income from the mining of mineral deposits usually decreases as the resource becomes more difficult to extract.
Calculate the arc price elasticity of demand over this price and consumption quantity range.
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