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Explain what fiscal policy is and how it works.
a. What are the fiscal policy instruments? What are the fiscal policy types?
b. Do you agree with the following statement: “Even if the Congress does not pass anynew laws to stimulate the economy, the fiscal policy is still facilitating the economicrecovery?”. Explain what this statement implies. Use the appropriate terms to describethe mechanics of the fiscal policy in this situation.
c. Currently the economy is facing an inflationary gap and the government is extremelyconcerned with the rapidly raising prices.
i. Draw an AD-AS model showing this gap (actual real GDP is $670 billion,potential output is $650 billion).
ii. MPC in this economy is 0.6. What instrument should the government use to closethis gap? Calculate all appropriate multipliers. Calculate, explain, and comparethe effect of each instrument on the budget balance.
What was the basis of the U.S. government's finding against Microsoft (abuse of monopoly-like economic power)?
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. What price should it charge. How many DVDs should it order from which supplier.
q.an individual has a comparative advantage in the production of a particular good if she can produce it at a lower
Assume the following simple supply and demand model: Assume a supply and demand diagram with P measured on the vertical axis and Qd and Qs measured on the horizontal axis. The sign of the derivative of Qd with respect to Pr suggests which of the foll..
If living standards in a country, as measured by output per person, increase, then total output must have: What two main methods do governments use to intervene in international trade?
The exchange rate at the beginning of a year between the Indian Rupee (R) and the U.S. dollar is R43.125/$. The annual inflation rates in India and in the United States are 19 percent and 3 percent respectively. What would be the new exchange rate at..
Identify four policies the government enacted following the financial crisis. Evaluate what effect these policies would have on the economy from both a short-run and a long-run perspective. Be sure to include: -The distinction between the short-run a..
As judged by strict conformity to the institutional characteristics. Pure competition is relatively rare. a. Then why study it? b. Give two example of industries that closely fit this category of market structures and briefly indicate how they fit th..
When some runners in the New York City Marathon hit the Queensboro Bridge, temptation sets in and, rather than finishing the last 10 miles through Harlem and the Bronx, they hop a ride on the subway and head toward the finish line at Central Park. Ho..
You are in charge of recruitment. One of the managers in the organisation has asked you to recruit a new employee for their department.
When conducting incremental analysis, what step must always be taken immediately prior to beginning the pairwise comparisons?
When a university bookstore prices chemistry textbook at $200 each, it generally sells 120 books per month. If it lowers the price to $160, sales increase to 160 books per month. Given this information, we know that the price elasticity of demand for..
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