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Question 1
Suppose that the policymakers want to increase the level of output while keeping the interest rate unchanged. What policy or policy mix would you recommend to achieve the above goal?
Using the IS-LM framework, explain clearly why you would recommend it and how it would work.
Question 2
Consider a situation in which a country has suffered from a large negative shock to aggregate demand but at the same time is facing very low interest rate.
a) Explain, using the IS-LM diagrams, the likelihood of restoring the economy through an expansionary monetary policy.
b) Compare the effectiveness of fiscal policy relative to monetary policy in the above context.
Question 3
The Solow growth model is based on the assumption of an exogenous technological progress. We relax this assumption and consider that technological progress is, to a large extent, determined by Research and Development (R&D). Now suppose, the government has increased its expenditure on R&D. Explain the long-run impact of this policy on both growth and living standards.
what people need... is a quality of mind that will help them to use information and to develop reason in order to
Illustrate what is your prediction about the economic health of each economy over the next few years.
Government imposes excise taxes on goods which have inelastic demand, such a cigarettes.
Suppose that the position of a nation's aggregate demand curve has not been changed, but long-run equilibrium price level has declined.
Explain the relationship between the price elasticity of demand and total revenue. 2. Is the price elasticity of gasoline more elastic over a shorter or a longer period of time? Explain. 3. Determine whether each of the following is an explicit c..
If a new home can be constructed for $150,000, what is the opportunity cost of federal defense spending, measures in terms of private housing? (assume a defense budget of $600 billion)?
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Skill-biased technical change, through its effect on labor supply of skilled and unskilled workers, can generate an increase in wage inequality"
Economic theory and history explains that less developed countries that open their economies to international trade and capital flows will grow faster and reduce poverty.
Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase
Equate the following cash flows to equal cash flows in years 5,6,7,8 and 9. Let i = 8% per year. Use a uniform gradient factor in your solution.You have the following end of year cash flows: Y0 = $400 Y1 = $300 Y2 = $200 Y3 = $100
The following model is a simplified version of the multiple regression model used by Biddle and Hamermesh (1990) to study the tradeoff between time spent sleeping and working and to look at other factors affecting sleep: sleep =b0 + b1totwrk + b2e..
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