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Compare and contrast monetary and fiscal policy in the context of an economy experiencing a recessionary gap. What are the policy options of each and how does each policy work? What are the advantages and disadvantages of using either monetary or fiscal policy? After your general discussion, recommend a specific, detailed policy for addressing the current recessionary gap. Use an AD-AS diagram (draw and scan or create on your computer) to show the short run and long run effects of using the policy you chose.
Debt reduction vs. stimulus for economic recovery during a recession: What are your recommendations to the current administration considering the state of the economy and the level of national debt? What are the implications of your recommended course of action? Use an AD-AS model (draw and scan or create on your computer) to illustrate the effects of such a policy during a recession. Cite readings and/or presentations to support your comments.
Keynes vs. Hayek: What are their perspectives on the role of government in the economy? Whose theories do you think are more useful in the current economic situation? What implications does the theory you chose have for individuals, communities, and the aggregate economy? Cite readings and/or presentations to support your comments.
Illustrate what are two reasons economists support free trade. Can you list what three of those assumptions likely.
Describe the economic and political economy aspects of the globalization debate. Why has globalization created so much controversy.
Elucidate how cost-push inflation might prompt policymakers to take actions that subsequently cause demand-pull inflation.
Illustrate what phase of the business cycle is the United States currently in. Describe in detail. What is the latest GDP.
Using the following data calculate Disposable Income:
Describe whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both.
Which of the following is true for perfect competition, monopolistic competition, and monopoly?
What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm 2 continued to charge $8?
Elucidate what output level does average variable cost reach its minimum value. What is the value (in dollars) of the average variable cost at its minimum point.
Why the characteristics of the labor marketplaces should result in the same wage rate for all jobs requiring the same level of abilities and skills.
It is mandetary that a rational customer will not purchase any units of the product represented by these data.
supply curve is applicable to a nation's economy. Create appropriate diagrams to assist in answering the following questions:
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