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Aggregate demand management refers to the changing of policy variables like government expenditures, taxation (fiscal policy tools) or money supply and interest rates (monetary policy tools) to attain a target level of GDP. Therefore a change in G, or T by policymakers always shifts AD not AS, hence the name aggregate demand management. Here is your fourth question that has five sections. Utilize the internet to answer these questions. Briefly describe the following touching upon similarities and differences 1.) Classical school of thought (short run vs. long run) 2.) Keynesian school of thought (short run vs. long run) 3.) Adaptive expectations (backward looking, see what happens than react) vs. rational expectations (forward looking, if think something will happen for sure in the future, you react now and do not wait to see what happens, if you do it will be too late). In the latter does it matter whether a policy change is anticipated early or unanticipated? 4.) Monetarist (this would be the in between case where SAS curve is upward sloping). How do workers suffer from “money illusion” 5.) When the Federal Reserve increases the money supply unexpectedly, what is the impact on the price level and RGDP in the short run and long run? How do your conclusions change depending on the schools of thought listed above? 6.) Why is there an inverse relationship between investment demand and interest rates?
On January 1 2015, your savings account will be worth $259,000. Every month thereafter, you make a cash contribution of $767 to the account. If the fund is expected to be worth $410,000 on January 1, 2020 what will the annual interest rate of interes..
It is not possible to maximize profits by using a markup pricing strategy. To maximize profit, a firm should apply a uniform markup to each product it sells. Using markup pricing is more complicated than simply setting price equal to marginal cost.
Vietnam's seafood exports in January and February 2014 increased 23.5 percent compared to 2013, and it is expected that the annual export target will be met relative ease. What was the effect of the increase in exports on the market equilibrium price..
Suppose the cost of producing a 30 second commercial for television is $100,000. If airtime on the evening news costs $200,000 and is viewed by 5 million people, what is the advertising cost per potential customer?
Which of the following products has the most elastic demand?
Suppose the candle manufacturing industry is organized as a perfectly competitive market i.e. it consists of many firms with identical cost structures. A single firm's long-run average total cost function is “U” shaped and minimized at an output of q..
A firm has the production function f(x, y) = x^0.90y^0.80. This firm has
1. Compare numeric and symbolic processing techniques. 2. Do you agree that using speech communication as the user interface could increase willingness to use expert systems? Why or why not?
Floyd is now working in a job that pays $18,000 per year. He is contemplating a one-year automobile mechanics course that costs $1,000 for books and tuition. The current interest rate is 10 percent. Is it economically rational for Floyd to enroll in ..
Macroeconomic equilibrium and the multiplier effect The following graph shows a hypothetical economy in short-run equilibrium at an output level of $400 billion and a price level of 100. Suppose that potential GDP in this economy is $200 billion. Use..
Consider the two-period optimization problem when income in the second period is zero and the individual is a borrower. Suppose that interest rate declines. In a graph, identify the Hicks income and substitution effects of the interest rate change on..
Calculating savings using the goods market equilibrium. Assume a closed economy (NX=0). Suppose net taxes are $100 billion. Government spending is $125 billion. Investment is $50 billion and consumption is $100 billion. Calculate public savings, priv..
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