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Suppose that the Fed is required to keep the inflation rate between 1 percent and 2 percent a year but with no requirement to keep trend inflation at the midpoint of this range The Fed achieves its target.
a. If initially the price level is 100,i. Calculate the highest price level that might occur after 10 years.
ii. Calculate the lowest price level that might occur after 10 years.
iii. What is the range of uncertainty about the price level after 10 years?
b. Would this type of inflation goal serve the financial markets well and provide an anchor for inflation expectations?
What is the income elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? What is the cross-price elasticity of demand for kitty litter when P(D)=30,P(C)=20, m=50? Are kitty litter and cat food substitutes or complements?
The United States is currently recovering from its bad recession in over twenty-five years. Applying the resource provided in this and earlier modules of course describe what factors or activities you think helped cause this economic condition.
There are three firms in an economy: A, B, and C. Firm A buys $250 worth of goods from firm B and $200 worth of goods from firm C, and produces 200 units of output, which it sells at $5 per unit. Firm B buys $100 worth of goods from firm A and $15..
Keynes rejected the classical notion of Say's law. He argued that under-spending was very likely. Keynes focused on aggregate demand (total spending) as being the key determinant to the level of macroeconomic activity not aggregate supply which wa..
According to the United States informationfor 1965-IQ to 1983-IQ (n=76), James and Adibi obtained the folowwing regression to explain personal consumption expenditure in the United States
What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output Q1 level is being produced How large is the dollar value of the consumer surplus at that output Q1 level
Now what will your price be? How much deadweight loss will your firm create?(d) After the election, you decide your firm is not making enough money. So you hire the lobbying firm C&E. C&E are able to convince regulators that you should set ..
Two processes can be used for producing a polymer that reduces friction loss in engines. Process T will have a first cost of $750,000, an operating cost of $60,000 per year, and a salvage value of $80,000 after its 2-year life.
Suppose initially (period 0) the economy is endowed with $5 (billion) of capital stock and 10 (thousand) workers (let's ignore the units). We know that saving rate s is 0.15, population growth rate n is 0.01 and depreciation rate d is 0.09.
In this question we are going to incorporates investment in human capital by agents, in a form similar to physical capital. Labor units are replaced by human capital units Y = AK?(?H)1?? where • H ? Units of Human Capital • ? ? [0, 1] ? Fraction of..
When the price of good X falls from . 10 to . 9, the demand for good Y Increase from 20 Kg. to 25 Kg. a) What is the cross elasticity of demand of good Y for good X b) Are goods X and Y compliments or substitutes
the following information concerning production of wheat and cloth in the United States and in the United Kingdom: Labor Hours Required to Produce One Unit United Kingdom United States Wheat 2 ..
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