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Life has become yet more complicated. Government spending works with a distributed lag. Now when $1 billion is spent today, GDP increases by $1 billion this period and $1.5 billion next period.
a. What happens to the path of GDP if government spending rises enough this period to put GDP back to its potential level this period?
b. Suppose fiscal policy actions are taken to put GDP at its potential level this period. What fiscal policy will be needed to put GDP on target next period?
c. Explain why the government has to be so active in keeping GDP on target in this case.
Is stability in the general level of prices through time important? Why or why not? Should price stability be the goal of monetary policy? Explain your responses.
Prepare a five page research paper about social problems where the free markets are not allowed to function, which includes the market for a particular illegal good and service, a regulated market, etc.
In 2011, the government of Greece ran into severe financial difficulties. For years, the Greek government had spent much more than it had received in tax revenue, financing the substantial budget deficits by borrowing.
Compare the efficiency of the following two methods of amending the just-compensation constraint: Define just compensation to be fair market value (including relocation costs) plus, say, 20 percent. b. Allow private property owners to make their own ..
Elucidate how many rounds of golf also games of curling will Seignior Cruz play in a week. Give an economic interpretation for the value of the Lagrangian Multiplier.
Cerulean Corporation has two equal shareholders, Eloise and Olivia. Eloise acquired her Cerulean stock three years ago by transferring property worth $ 700,000, basis of $ 300,000, for 70 shares of the stock. Olivia acquired 70 shares in Cerulean Cor..
A road building contractor has received a major highway construction contract that will require 50,000 m^3 of crushed stone each year for 5 years. The stone can be obtained from a quarry for $7.80/m^3. As an alternative, the contractor has decided to..
How many acres should John choose to mow in order to maximize profit. Prevailing market price of lawn mowing is $20 per acre.
sofa manufacturer presently is using 50 workers also 30 machines to produce 5,000 sofas a day.
In your opinion, are you better off saving money or spending money? Why? Please explain? Then take the question from a more macroeconomic perspective...does your spending or saving make the economy as a whole better off (and thus indirectly you)? How..
The director of manufacturing at a clothing factory needs to determine whether a new machine is producing a particular type of cloth with s mean breaking strength of at least 70 pounds. a sample of 36 pieces of clothe shows a sample mean breaking str..
Some macroeconomic relationships in a national economy are described by the following equations (numbers in $ millions)
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