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Subject: Fiscal and Monetary Policy
1. Name the 2 Major options each policy has
2. Explain each policy. i.e. who controls, how do they work, when are they used, ect.
3. Give examples of when each was implemented
What is the consumer price index (CPI)? How is it measured? What are the pros and cons of using the CPI as a measure of the cost of living? Use examples in your response.
Suppose the demand curve for a good is given by the equation P = 300 - 1/4 Q and the supply curve is given by the equation P = 75 + 1/2 Q, where P represents the price of the good (measured in dollars per unit) and Q represents the quantity of the go..
Determine the difference among National Income, Gross National Product, and Gross Domestic Product? Why do most countries now use GDP as a measure of national output?
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
Economists at BLS specialize in particular products, such as televisions, automobiles, kitchen appliances, and so on. One of their greatest challenges is to identify substitutes for products that are no longer available on the market.
1) Johnson Inc. is a firm operating in a market with one other larger firm. The market is a mining industry for a rare metal. Johnson Inc. has the following short-run cost curve:
With a U.S. marginal propensity to consume, assumed at 1/2, what will happen to the following with the neoclassical model of national income if the Bush Tax Cuts expired
The student will type a brief but thorough and well-organized project proposal that clearly describes the company or organization and its mission in which the student will be assuming the role of the client.
ECN 101- An economy's technology is described by the following Cobb-Douglas production function. Find the rates of growth of the steady-state capital per worker and GDP per worker. Show your work.
Starting from equilibrium national income of $250 billion, suppose government purchases decreased by $25 billion. Describe the effects on the AE curve and on equilibrium national income.
for immediate release information received since the federal open market committee met in september suggests that
1. Technological improvement leads to increases in factor productivity but does not contribute much to the growth of aggregate real income for a nation.
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