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Mario Draghi, President of the European Central Bank (ECB), released this statement: Let me now explain our assessment in greater detail, starting with the economic analysis. Real GDP in the euro area rose by 0.2%, quarter on quarter, in the first quarter of this year. This confirmed the on- going gradual recovery, while the outcome was somewhat weaker than expected. [...] At the same time, although labour markets have shown some further signs of improvement, unemployment remains high in the euro area and, overall, unutilised capacity continues to be sizeable. According to Eurostat's flash estimate, euro area annual [] inflation was 0.5% in May 2014, after 0.7% in April. This outcome was lower than expected. On the basis of the information available to us at today's meeting, [] inflation is expected to remain at low levels over the coming months []. (a) Consider this information in the context of the aggregate supply and demand framework. Based on ECB President Draghi's statement, where is the short- run equilibrium of the economy relative to the ECB's inflation target (2%) and the long-run equilibrium level of output? Illustrate your answer with the appropriate diagram. (b) Given your answer to (a), what should the ECB's response be? The ECB's benchmark interest rate? Illustrate in both an IS-MP diagram and an AS- AD-LRAS diagram.
an insurance company stated that in 1987 the average yearly car insurance cost for a family in the u.s. was 1188.nbsp
Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill (to increase expected future business from the buyer).
You are told that there are two linear lines in a coordinate graph with x the variable on the horizontal axis and y the variable on the vertical axis. The first line contains the points (5, 10) and (10, 20)
A growing number of businesses' including videogame developers, cigarette companies, soft drink producers, liquor marketers, and fast food chains are feeling the heat from government, the press, and society at large for encouraging harmful
IS Curve Exogenous Variables and Parameters Given the values in the table above, the real interest rate r = ________ when equilibrium output Y = 15.
What are the basic concepts that are key components of Gary Becker's "Theory of the Allocation of Time". That is, in words, what are the key elements of this approach In addition, what are the theoretical implications of this approach
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. What evidence of excess supply or excess demand can you cite in these examples?
In other words, does it matter whether the deficit is caused by lower taxes, increased defense spending, more job-training programs, and so on In your analysis, what role do fiscal and monetary policies have to lead to higher
The following link should take you to an article by Krugman that appeared in The New York Times on September 6. 2009. He contrasts the stark differences between the salt water and fresh water camps of macroeconomists. What does he find to be the k..
Should the government break up a monopoly into a large number of perfectly competitive firms? Why?
Here is the information you require to answer the question. This information is taken from the graph. So you will require to draw the graph to answer the questions. The best level of output for monopolist in short run is 500 units and is given by p..
you have worked as a real estate agent for 10 years and are earning about 100000 per year with your current agency. you
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