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a) If the equation for a country's Phillips curve is p = 0.02 – 0.7(u – 0.055), where p is the rate of inflation and u is the unemployment rate, what is the short-run inflation rate when unemployment is 5.8 percent (0.058)?
b) Assume that an economy has adaptive expectations with a Phillips curve p = p –1 – 0.4(u – 0.06). How many percentage points and years of cyclical unemployment are needed to reduce inflation by 2 percentage points?
c) Describe the difference in assumptions between Adaptive Expectations and Rational Expectation? How does this difference impact the Federal Reserve Bank’s ability to reduce inflation?
Mr. Darcy is a single man of good fortune, so good, in fact, that it allows him to sustain a lavish lifestyle simply on the interest he earns on his savings without ever having to work. What is Mr. Darcy’s nominal wealth at the end of each the next t..
Briefly describe what a microprocessor is and explain its relationship to software. List the four types of memory and briefly describe how each one works.
Suppose that a small nation produces mushrooms for domestic consumption also possible export.
Gina Picaretto is production manager at the Rich Manufacturing Company. Each year her unit buys up to 100,000 machine parts from Bhagat Incorporated. Is the increase more likely to be justified in the short run or the long run?
How does an open market purchase by the Fed affect the level of bank reserves and the interest rate? How will GDP be affected? Explain the causal chain. Explain how interest rates and bond prices are related to one another. Why is this important for ..
q1. assume the government decides to fight obesity in america by imposing an excise tax on the saturated fat content of
q1. connie and stephen must decide how to split a pie. suppose both of them simultaneously formulate demands x and y.
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
the top ten percentile cutoff was 95 points. a. What is the standard deviation for the class? b. What percentile did you score in?
Assume an economy with a total population equal to 1. Individuals can only be employed or unemployed. Suppose this economy's steady-state unemployment rate is 5%. We know that workers can lose their jobs and become unemployed with probability 4%. Wha..
Suppose Alan’s preferences are described by the utility function: Find the equation for Alan’s indifference curve through the bundle (3, 6).
You are considering two alternative plant layouts, A1 and A2, to improve its current layout. The cash flows are shown below. The first costs represent the expenses of rearranging the current layout to the alternative new layout and the annual savings..
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