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1. Suppose on Monday, April 23, 2012 you withdraw $1,000 from your savings account and put the money under the mattress.a. Briefly explain how your action affects the level of M1 and M2 measured the same day.b. Briefly explain how this will affect money supply over time.
2. By using aggregate supply and aggregate demand curves to illustrate your points, discuss the impacts of the following events on theprice level and on equilibrium real GDP (Y) in the short run:a. An expansionary monetary policy during a period of high unemployment and excess industrial capacity.b. An increase in the price of oil and a disruption in oil deliveries caused by a war in the Middle east.c. A tax cut holding government purchases constant when the economy is operating at near full capacity and output is at its potentiallevel.
3. In 2009, a fictional economy is in a long run macroeconomic equilibrium. Potential real GDP is $100 million and the GDP deflator is ata level of 100. Between 2009 and 2011, potential output grows by 4%, however unexpectedly high investment and net exports raise theaggregate demand by more than 4% and the economy experiences an inflationary gap. In a diagram, illustrate how these events affectthe Aggregate Demand and Aggregate Supply curves an AD/AS and discuss how, even without any intervention on the part of the government or the central bank, the economy would self adjust over the following few years.
The increase in the share of profits in national income has brought about demands for an increase in corporate tax. Consider a closed economy where the share of profits in national income is α, and where d of the after-tax profits are distributed ..
Assuming that poor and rich countries have the same production function, illustrate how the poor country will converge with the rich country. Describe how this mechanism works. 2. In the data, countries with low living standards have capital-to-wo..
Determine the profit maximizing price and quantity and socially efficient price and quantity and If the company is offered the contract, should it build the bridge? Why or why not?
Relate the law of conservation of matter and energy to the air pollution problem; and
Suppose that you are on holiday in Russia, when suddenly you are arrested and accused of spying for United States.Your captors tell you that if you confess, you will receive a prison sentence of 2-years,
What are the three main questions that all economic system must answer? Who answers them under a communist system? A socialist system? A capital system?
consider the market for shiraz wine. the market demand and supply are given byqd 10 - pd and qs 4 2 psa. find the
The equation QA= 1/2(12-Q)b) is the so called reation function of duopolist A in a COurnot model becasue given the value of Qb, Qa gives the best or profit-maximizing level of sales of oligopolist A. Show that this is the case with reference. Wha..
Assume The Big Enchilada Restaraunt has been offered a 1 year binding lease agreement for $5200/mth on an attractive site. Before the lease is signed, what is the incremental cost per month?
Explain what is meant by the hedonic wage function for a job characteristiv such as the probability of an injury. Go on and explain how the function can be deruved from worker prefernces and production technologies.
If there is asymmetric information what is the optimal strategy for the workers What is the optimal strategy for the firm Is the employment contract between the firm and the workers self-enforcing If yes, why If not, which would be a self-enforcing..
Is housing in this town a(n) normal or inferior good? Explain?
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