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(a) Draw a figure, using the Keynesian IS-LM framework, of an economy in recession.
(b) Now suppose the IS curve shifts up and to the right far enough that if the real interest rate is unchanged, output will increase beyond full employment. If the Fed's goal is to move output to its full-employment level, what must happen to the real interest rate? What is the effect on the price level?
(c) Suppose, before the Fed can act, that the government announces a restrictive fiscal policy, shifting the IS curve down and to the left relative to its position in part (b). What is the Fed likely to do (relative to what it would do if fiscal policy wasn't restrictive) if its goal is to target full-employment output? What happens to the real interest rate relative to what it is in part (b)?
Explain why does the burden of sales tax fall completely on consumer when the price elasticity of demand is perfectly inelastic; the seller when perfectly elastic. and the prefect inelastic supply and perfectly elastic supply.
1. A representative of the American clothing industry recently made the following statement: "Workers in Asia often work in sweatshop conditions earning only pennies an hour. American workers are more productive and as a result earn higher wages. ..
Suppose that an raise in a household's disposable income from $40,000 to $48,000 leads to an raise in consumption from $35,000 to $41,000,;
Large-denomination time deposits: $ 304 billion Currency and coin held by nonbanking public: 438 billion
From each pair of goods, pick the good for which demand will most likely be more elastic:
Illustrate what is your opinion and brief description about the microsoft anti trust case. Need your opinion about the outcomeand if the solution was fair
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity. Relate at least one current event to the activities.
Health economists use demand and supply theory to discuss the "Health Insurance Exchange" created by the Affordable Care Act (Obamacare). Mandated by law everyone now must have health insurance.
A person rents a home for which she pays the landlord $12,000 a year. The can can be bought for $100,000 and tenant has this much money in a bank account that pays 4 percent interest per year.
The variable rdintens is expenditures on research and development (R&D) as a percentage of sales. Sales are measured in millions of dollars. The variable profmarg is profits as a percentage of sales. Using the data in RDCHEM.RAW for 32 firms in the..
Discuss the difference among inflationary gap and deflationary gap.
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