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The Federal Reserve expands the money supply by 5 percent.
a. Use the theory of liquidity preferences to illustrate in a graph the impact of this policy on the interest rate.
b. Use the model of aggregate demand and aggregate supply to illustrate the impact of this change in the interest rate on output and the price level in the short run.
c. When the economy makes the transition from its short-run equilibrium to its long-run equilibrium, what will happen to the price level?
d. How will this change in the price level affect the demand for money and the equilibrium interest rate?
e. Is this analysis consistent with the proposition that money has real effects in the short run but is neutral in the long run?
Estimation of sales from multiple regression models - figuring out the own price elasticity of demand and cross price elasticity of demand - the relevant business decision to increase the total revenue.
Case study: rent ceilings in New York City. Suppose the demand and supply curves for rental housing units have the typical shapes and that the rental housing market is in equilibrium. Then, government establishes a rent ceiling below the equilibri..
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Suppose that in Canada the opportunity cost of producing two television sets is three bushels of wheat. Suppose that in the United States the opportunity cost of producing 2 bushels of wheat is 3 television sets.
Now determine equilibrium quantity and graph the two equations to substantiate your answers and label these two graphs as Dl and SI.
During the recent recession, when countries around the world suffered high unemployment rates and the governments were experiencing huge budget deficits, economists debated whether to raise or cut taxes or to raise or cut government spending.
Explain how a voluntary exchange results in a win/win situation to both parties.
Suppose that the average prices of refrigerators have fallen over the past few years, yet the refrigerator companies have offered more and more of them for sale. Does this mean that the supply curve for refrigerators is downward sloping?
Explain the effectiveness of the exchange rate regime being used in terms of achieving macroeconomics objectively in South Africa and discuss any four macroeconomics objectives which can be used to judge the performance of the economy.
Describe economic terms and concepts and describe your reasoning leading from concepts in question to the final answer.
Assume that businesses purchase a total of $100 billion of the 4-resources from households. If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest,
Discuss why the number of children that a family has may differ between an Industrial Society and a Third World Agrarian Society.
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