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(a) Suppose the economy is initially in long-run equilibrium and the U.S. stock market has a prolonged decrease in shareholder value. Use the AD–AS model to predict short-run changes to real GDP and the aggregate price level. Using the AD–AS model explain how the economy will adjust in the long run. Should the government undertake any proactive fiscal or monetary policy in this situation? Explain your reasoning
(b) Suppose the annual inflation rate is at 2% and 8.5% of the labor force is currently unemployed. If you were on the Fed's Open Market Committee, what action would you prescribe? How would this affect the economy, the inflation rate, and the unemployment rate?
(c) Suppose that the inflation rate is currently 4%. The level of potential real GDP is estimated at $4 trillion and the level of current real GDP is estimated at $3.75 trillion. Use the Taylor rule to estimate the target Federal funds rate.
Between 2009 and 2010, the quantity of cars produced and sold decreased by 20%. Through the same period, the cost of gasoline increased by 20% and the price of cars increased by 5%. We know that the cross elasticity of demand of gasoline is -0.3. Cal..
A five-year-old gadget has a current book value of $203,000. It has been observed that the gadget loses it value over time in a manner that can be best captured through the use of the declining-balance method.
Is energy efficiency the same thing as economic efficiency and under what circumstances would the energy-efficient automobile described here be economical efficient?
explain how rent seeking can lead to a drop in productin of goods and services.what role might the underground economy
According to theory, if you lower interest rates, business investments and consumer purchases of large durable goods are supposed to increase. In return, this is to help pull us out of a recession.
What is the consumption function and how is it related to the Marginal Propensity to Consume? 2. What is the multiplier? 3. What determines the position of the Long Run Aggregate Supply curve? 4. What is a supply shock? Give several examples.
An increase in the nominal money supply will shift
A firm has $2,200,000 in sales, a Lerner index of 0.61, and a marginal cost of $50, and competes against 900 other firms in its relevant market.
1. Consider the situation of the concept of Green energy policy and conservation. What is the issue at hand and what are they hoping to do Explain. 2. What are the anticipated benefits of using the electric cars and the new florescent light bulbs E..
1. abdul was an actor and spends all of his disposable income on attending either plays or movies.nbsp he likes plays
What effect do government intervention, taxation, and regulations have on economic behaviour? Describe. What are real-world examples of government intervention, regulations and taxation? What are the goals of each?
Discuss in general the appropriate metrics that one may require to track. Also explain how investing in IT with an eyes towards the replacement or automation of another project or issue or task may work.
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