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Assume that output (Y) is currently at the full employment level. Explain the short-run and long-run effects of the following policy measures. Support your answer with an IS-LM and AD/SRAS and LRAS diagrams.
A) An expansionary monetary policy on (1) output level, (2) price level, and (3) interest rates.
B) An expansionary fiscal policy on (1) output level, (2) price level, and (3) interest rates.
Suppose that in addition to repairing your car, you can also spend money advertising. If you repair your car for hours and spend A dollars advertising, your benefit (the amount you revive when you sell your car) is B(H,A)=220H-H^2+2A. Both H and A ar..
Account for the reason why Europeans, who were fewer in number, were able to conquer, and control other areas of the world which were geographically larger, and socially well organized. Can a connection be made between the foregoing and the arrival o..
Consider an economy described by the production function: Y = F (K, L ) = K1/2L1/2. Find the per worker production function. What savings rate is necessary for the economy to reach this consumption maximizing steady state?
What are constructs in relationship to health behavior theory? 1. Concepts developed or adopted for use in a particular theory. 2. Operational forms 3. They draw on a number of theories to help understand a particular problem in a certain setting or ..
Federal vs State Government. Choose a side to argue from. What makes the other form of government weaker in solving problems and deliver services to citizens?
In solving an arithmetic gradient problem with the gradient decreasing, which is true? Use the highest amount as the base. Calculate uniform series with that base amount, and then subtract the calculated gradient (wedge).
Why do national income accountants compare market value of total outputs in various years rather than actual physical volumes of production.
Compare and contrast the impact of a faster population growth on the standard of living (measured as output per worker) in the models of Solow, Malthus, and Kremer.
You and your neighbor meet at the University Inn. Your neighbor suggests that the trouble is too much government spending in the economy. Outline how this may be correct, in terms of fiscal policy. A Wall Street Journal writer enters the argument and..
Fluid Dynamics Company owns a pump that it is contemplating replacing. The old pump has annual operating and maintenance costs of $8,000/year: it can be kept for 4 years more and will have a zero salvage value at that time. The old pump can be traded..
Discuss various cultural models in terms of immigration, such as assimilation, pluralism, and multiculturalism. What model is used today? Discuss the assimilation, pluralism, and multiculturalism models, and include their historical timelines.
The goals of the _________ are to increase economic self-support and self-sufficiency, reduce abuse and neglect of children and adults, reduce inappropriate institutional care, and secure institutional care when needed. a. Social Services Block Grant..
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