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There seems to be some evidence supporting the idea of a political business cycle. That is, the economy tends to experience particularly fast growth just prior to elections and slower growth or recessions some time after elections.
A. Explain why and how this happens. That is, what is the underlying motivation of those responsible for this effect and what actions (fiscal and/or monetary) do they take to achieve it?
B. Use the AD/AS model and the Phillips curve model to explain what effect the actions taken in part A will have on inflation if the economy starts from full employment.
C. Now, it may be that the position of the Phillips curve depends on people's expectations. If people have adaptive expectations and elected officials act in a way that is consistent with a political business cycle, how is the Phillips curve likely to shift?
D. In light of this, offer an explanation for the (actual) observation that countries with central banks that are very independent of elected officials tend to have lower inflation than do countries with central banks very closely tied to elected officials. Hint: Think about the ability of the central bank to carry out appropriate policy.
Discuss the implications of the outsourcing of labor for the nation as a whole, and see if you can find an example to cite within the region, where a company or factory has shifted production to Asia or elsewhere overseas.
"Suppose the market for oranges is disturbed by below-freezing cold weather that destroys much of the orange crop in the California. Predict what will happen to the equilibrium price and quantity in the market for oranges because of this natural d..
Within two weeks sales had fallen. Utilizing your knowledge of game theory, Illustrate what do you think disrupted McDonald's plans.
Which investment has a higher rate of annual cash return? Investment A: $1,000 bond with a coupon rate of 4 percent selling for $1,200 or Investment B: $1,000 stock with a P/E ratio of 10 that pays out half its profits in dividends.
Assume you notice that more also more people are driving gas-guzzling cars.
q.the manager of the aerospace division of general aeronautics has estimated the price it can charge for providing
Suppose, Worker 1 has a reservation price of 41 cents; worker 2s reservation price is 42 cents; worker 3s reservation price is 43 cents, and so on. There are 150 jobs in firms without air purification systems, and this number is fixed. Thus, the dema..
Plot each of the following scenarios on a qualitative graph with aggregate demand, short-run aggregate supply, and long-run aggregate supply. Measure the aggregate price level (P) on the vertical axis in your graphs and measure real GDP (Y) on the ho..
What considerations regarding Market Structure are important in your opinion? Is competition really all that different when you get down to basics? Can you think of a theoretical framework that may be useful in considering this issue?
Consider a hypothetical economy in which the marginal propensity to consume. Plot an economy consumption function.
Compute the equilibrium quantity and price and Calculate the consumer and producer surplus.
q1. the article discusses the decrease in firm costs. should the decrease in costs affect the quantity supplied? why or
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