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In the real business cycle model, suppose that government spending decreases temporarily.
a. Determine the equilibrium effects of this decrease. Could business cycles be explained by fluctuations in G? In other words, does the model replicate the key business cycle facts from Chapter 11 when subjected to temporary shocks in government spending? Explain.
b. Now suppose that temporary increases in government spending lead to permanent increases in total factor productivity, perhaps because some government spending improves infrastructure and makes private firms more productive. Show that temporary shocks to government spending of this type could lead to business cycles that are consistent with the key business cycle facts, and explain your results.
Fully describe the theory underlying each model, and why the AS/AD model is the preferred way to measure the economy, or is it?
You were asked to chart the amount of solid food that she consumed. For the noon meal today she ate 1/2 of a 3 ounce serving of meatloaf, 3/4 of her 3 ounce serving of mashed potatoes, and 1/3 of a 2 ounce serving of green beans. How many ounces o..
Consider an issue in public economics of your own choosing. Provide a full background to the problem and identify the role for government (or other) in generating a solution.
Discuss what GDP is and what it measures? Discuss what the shortcomings (limitations) of GDP as a measure of well-being and welfare of a nation are?
Describe the 2008 U.S. Physical Activity Guidelines for children and adolescents aged 6 to 17 years old. How do they compare with the adult standards?
A scientist wants to determine the half-life of a certain radioactive substance-Based on the data, what is the half-life?
Consider the Barrow tax-smoothing model. What are the paths of taxes, T(t), and government debt outstanding, D(t)?
Describe the relationship between marginal cost and total cost.
work decisions are based upon a comparison of priviate cost and the private benefit. The excludedable benefit of addtional work is measurable as the change in what options - income less transfer payments lost, gross income, net tax payments, adjus..
1. nbsp nbsp briefly define the following termsa.nbspnbspnbsp output gapb.nbspnbspnbsp federal funds ratec.nbspnbspnbsp
A change in reserve needs of depository institutions is the policy tool most frequently used through the Federal Reserve to influence economic activity
Given the following production possibilities curve: a. Does this production possibilities curve show increasing opportunity costs? Explain. b. What is the opportunity cost of moving from point I to point D? Explain.
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