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Different policy trade-offs implied by the short-run phillip

Assignment Help Macroeconomics
Reference no: EM132422535

Question 1: Suppose that people in an election year believe that public officials are going to pursue expansionary policies to enhance their reelection prospects. How could such expectations put pressure on officials to pursue expansionary policies even if they hadn't planned to?

Question 2: Why is it hard for policymakers to decide if the economy is operating at its potential output level? Why is this uncertainty a problem?

Question 3: Describe the different policy trade-offs implied by the short-run Phillips curve and the long-run Phillips curve. What forces shift the long-run Phillips curve?

Question 4: Explain Adaptive versus Rational Expectations.

Question 5: What are the four policy lags?

Reference no: EM132422535

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