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1a) Discuss the effects of a tightening monetary policy in the short-run and the long-run? What are the key assumptions in both scenarios? What are the appropriate models to distinguish the short run and long-run effects of a tightened monetary policy?
b) What exactly does the Federal Reserve do when it announces a policy to tighten money supply?
c) What is the effect of such a monetary policy on the equilibrium level of income in the short run? Depict this using the ISLM curves. Comment on the effect on Investment, Consumption and Unemployment resulting from a tightening monetary policy.
d) How does this monetary policy affect aggregate demand in the economy? Show this graphically.
Explain why the change is not likely to be a pareto improvement. Which of these changes might be approved under the compensation principle? Which might be approved under a Rawlsian social welfare function?
A number of additional conclusions can be drawn from the fact that the marginal revenue curve associated with a linear demand curve is also linear and has the same price intercept and twice the slope of the original demand curve.
In the auction described above, suppose that you could entice additional bidders to attend your auction. However, none of the new bidders would have a valuation greater than $3.0 million.
Show the total and marginal products and indicate at each level of production whether the production function exhibits increasing, constant, or diminishing marginal productivity.
Describe the purpose of ecumenical services and interfaith initiatives. What importance, if any, does dialogue between the various faith traditions have? Find one example of either an ecumenical service or interfaith initiative in your town or city a..
Forward premiums and discounts imply that there is risk in foreign exchange transactions. Explain the three types of FX risk? How can foreign exchange rate risk be fully covered or hedged?
How do mandated benefits affect labor market outcomes? Why do these outcomes differ from those resulting from a payroll tax? What is the deadweight loss arising from mandated benefits?
Real GDP is: A.the base year market value of all final goods and services produced domestically during a given period.
Was Balagny Clothing Company better off keeping its operations within the US? Why more manufacturing companies are beginning to relocate to the US after enjoying the benefits of outsourcing to low labor cost countries? What are the determinants of pr..
Evaluate the factors involved in making decisions about pricing tobacco products indicating which would be the most influential.
Which of the following statements is true on average? Federal tax and expenditure programs: Labor productivity is measured using the:
Regarding labor markets in general, consider some reasons as to why there is such a wide variation in earnings between participants. In other words, why do software engineers or doctors make more than fast food restaurant employees? In essence, it mo..
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