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USE OF FISCAL POLICY TO SIMULATE THE ECONOMY
This is a continuation the above problem. It appears that we both agree that we have identified the economic conditions as recessionary. It appears that the FRB has already tried to stimulate the economy by lowering interest rates and that has proved unsuccessful; therefore, further reductions would probably be futile. We both agree that GDP is very low. Inflation is stable and not very high. Should the economy be left alone to see if it will make the necessary adjustments? Or should the government use fiscal policy and give tax cuts and tax credits? Would this stimulate the economy sufficiently? Or would it be better for the government to do some heavy spending to stimulate this economy. I think the latter would be the best option. Again, am I on the right track? I realize that the last two possibilities would result in a higher budget deficit.
Discuss how absolute advantage and comparative advantage differ? Kyle can read 20 pages of the economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying. Draw Kyle's production possibilities fron..
Graph the accompanying demand data, and then use the midpoint formula for E d to determine price elasticity of demand for each of the four possible $1 price changes.
In an article about the financial problems of the USA today, Newsweek reported that the paper was losing about $20 million a year.
According to the Heckscher-Ohlin theorem, is Russia capital abundant or labor abundant? Briefly explain. What is the impact of opening trade on the real wage in Russia? Briefly explain.
Draw a graph of the market for banana. What are the equilibrium price and quantity? Explain why. If the price of banana was $1.50 a box. What would be the situation in the banana market (shortage or surplus)? Explain why and how the price and quanti..
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
Which of the following is a long-run macroeconomic policy goal? If the CPI was 132.5 at the end of 2003 and 140.2 at the end of 2004, the inflation rate over these two years was
A firm has estimated the following demand function for its product: Calculate the advertising elasticity of demand and explain its meaning.
Elucidate three arious ways in which the Federal Reserve would change the money supply.
You are the manager of a firm in a new industry. You have gotten the jump on the only other producer in the market.
Compute the point price elasticity of demand for bearing grease. Compute the optional price for bearing grease if marginal cost is $4.50 per unit.
Mention four key points from the reading assignments that were emphasized in the simulation. Find out how price elasticity of demand affects the decision making of the consumer and of the organization.
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