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Use the aggregate demand (AD) and aggregate supply (AS) model to show and discuss the effects of the following events on real output (Y), general price level (P), and employment, in the short run and in the long run. Assume that economy is initially in full employment at point A, that prices and wages are sticky in the short run but flexible in the long run, that there is no counteracting fiscal or monetary policy. Treat each case separately, and in each case explain why and in what ways the aggregate demand and/or aggregate supply will be affected. Price level (P) LRASSRASP A YN = potential GDPAD Real GDP (Y)YN a. Because of the increasing tension between Russia and Ukraine, oil prices rise dramatically.b. With greater confidence in the economy, investment in residential and business construction increases. c. The value of the U.S. dollar continues to rise against the euro and the Japanese yen.d. In response to increasing uncertainty about the economy, consumer confidence keeps falling for three consecutive quarters. e. In order to stimulate the economy, the Congress enacts a 10 percent reduction in personal income taxes.f. The Federal Reserve conducts an expansionary monetary policy by lowering the federal funds rate.g. A sharp decline in the rate of growth of income in European Union countries reduces their demand for American products.
Illustrate what was the industry's method for determining that there was an inequality.
Recently, a troubled bank borrowed $800 million from the Federal Reserve. Describe the impact this event had on the monetary base.
A packaging firm relies on the production function , with and . Assume that the firm's optimal input combination is interior (it uses positive amounts of both inputs). Derive its long-run total cost curve in terms of the input prices,wandr.
What is the estimated annual (nominal) rate of return based only upon the net cash flows for the 8 months of ownership What fallacy of payback analysis does this ROR value and the payback periods above demonstrate, if the owner has disposed of the..
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.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases.
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition (assuming the minimum wage is above the market-determined wage)
Give a brief written evaluation of Kissick Corporation 's results from operations for the year and its financial position at the end of the year.
According to the rule of 70, how long will it take for your income to double if you get a 5 percent raise every year? If you start work at the age of 23 earning $40,000 per year and get a 5 percent raise every year, how much will you be earning if yo..
economic growththe government uses policies like student loans and free trade to influence the economys growth rate. in
A project consists of 20 activities whose duration time estimates in days are given below activity duration activity duration
Explain the concept of externality. What does it have to do with the efficient allocation of resources?
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