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Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year. Suggest how fiscal and monetary policy can move those numbers to an acceptable level keeping inflation the same. What is the first action you would take as the president? As the chairman of the Fed? Why? What would be your subsequent steps? Make sure you include both the positive and negative effects of your actions, and include the trade-offs or opportunity costs. Include the following concepts in your discussion: Demand and supply of money Interest rates The Phillips curve Taxation Government spending Wages Costs of inflation The multiplier and the tax multiplier The idea of tax rebates to stimulate the economy Part 2: Assume that the country is in a budget deficit and carrying a very large debt. Discuss the dangers of a high debt to GDP ratio and a growing budget deficit. Would this affect any policy changes you discussed in Part 1?
If total costs at each output level were to double, would the profit maximizing output level be greater or smaller? Can you answer this question without performing any calculations? Explain.
Explain why this phenomenon may be a good thing, using the laws of supply and demand to explain your answer.
Suppose that between 2003 and 2007, one group of individuals (Group 1) received job training while another otherwise similar group (Group 2) did not. Suppose that the average earnings of the first group went from $40,000 per year to $55,000 per year,..
illustrate what are short-run and long-run effects on aggregate price level and aggregate output. There is an increase in taxes on households. There is an increase in quantity of money. There is an increase in government purchases.
A friend borrows 500$, agreeing to pay back the loan principal plus 75$ interest one month later. One year goes by and he doesn’t pay. Exactly one year later you ask him to pay the loan immediately plus an interest with monthly compounding.
A price-weighted index consists of stocks A, B, and C which are priced at $38, $21, and $26 a share, respectively. The current index divisor is 2.7. What will the new index divisor be if stock B undergoes a 3-for-1 stock split?
According to a study of US cigarette sales between 1955 and 1985, when the price of cigarettes was 1% higher, consumption would be 0.4% lower in the short run and 0.75% lower in the long run (Becker et al., 1994).
Suppose a confectioner (candy maker) and a doctor share a building for work. The confectioner uses half of the building, and the doctor meets with patients in his office in the other half of the building. Suppose the confectioner uses a very loud mac..
How much money will accumulate in five years if monthly deposits of $1,000 are made every month (except for month 15, where no deposit is made) if interest =3% per month? Show all your work
You have a credit-card debt of $16,986 and the interest rate you are paying is 14%. You have been making the minimum monthly payment (assume that the minimum monthly payment is 1.8% of the remaining balance) and you are not continuing to make cha..
Phelps-Dodge plans to expand capacity by purchasing equipment that will provide additional smelting capacity. The cost of the initial investment is expected to be $16 million. The company expects revenue to increase by $3.8 million per year after the..
The U.S. Commercial Service prepares reports known as the Country Commercial Guide for countries of interest to U.S. investors. Utilize the Country Commercial Guide for Brazil to gather information on this country's energy and mining industry. Consid..
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