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The graph shows that if policymakers respond immediately to an oil price shock by stimulating aggregate demand, shifting AD to AD* then the level of output will remain constant. This is known as Accommodating Policies. The drawbacks of taking this approach are that the level of inflation would be higher. Therefore there exists a trade-off for policymakers. This trade-off is between the inflationary impact and the recessionary effects of a supply shock. In order to assist policymakers with their decision, the nature of the shock should be considered. If the shock were transitory, then stimulating aggregate demand could be used to avert a drop in output. If the shock were permanent, it is highly unlikely that aggregate demand policy would be able to prevent a drop in output.
Whilst this paper will be unable to analyse the success of the policymakers in the UK throughout the sample period, it is able to observe the effects that a shock in oil price would impact upon inflation and economic growth as these are two of the indicators which will be analysed.
The number of gallons of paint that Home Depot sells in a given day is normally distributed with a mean of 150 gallons and a standard deviation of 35 gallons (I realize that the di
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Sims (1980) introduced an exciting and ground-breaking new framework which would prove to be extremely insightful for macroeconomic analysis. This is known as vector autoregression
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critically analyse the ways at which the government of zimbzbwe has put in place to address unequal employment opportunities between men and women
In your own words, explain the following: a) affective aperture, b) array factor, c) Friis equation, d) Antenna H-plane and E-plane, e) radiation resistance
Hello, I am having difficulty in understanding what multiplier is.
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Determine the term- GDP per capita GDP, being a flow, isn't a measure of the total wealth of a country though a measure of the "income" of country during a certain period of ti
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