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The government notices that there is an output gap and decides to increase government spending with a stimulus package of $4 trillion in hopes that it will spur growth and stop unemployment.
1. What is the new level of GDP (as determined by aggregate expenditure)?
2 Calculate the Keynesian Multiplier.
The price level now adjusts to get us to a new short-run equilibrium.
3 What is the new short-run equilibrium (price level and GDP)?
4 What is the new output gap?
5 Assume that the government is done spending (as is other autonomous expenditure items). What must change to get us to long-run equilibrium?
describe who gets hurt in a recession, and how.
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#queA monopolist has a constant marginal and average cost of $10 and faces a demand curve Of Qd = 1000-10P. Marginal revenue is given by MR= 1000-1/5Q. stion..
what are the weaknes of consumer behaviour
Q. What do you mean by Bond? Bond: A financial security that represents promise of its issuer (generally a company or a government) to repay a loan over a specified time period
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to what extent are interest rates determined by the economic theory
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What are the basic analytical frameworks of modern economics? The fundamental analytical framework of modern economics: The fundamental analytical framework for an econom
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