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Aggregate demand management refers to the changing of policy variables like government expenditures, taxation (fiscal policy tools) or money supply and interest rates (monetary policy tools) to attain a target level of GDP. Therefore a change in G, or T by policymakers always shifts AD not AS, hence the name aggregate demand management. Here is your fourth question that has five sections. Utilize the internet to answer these questions. Briefly describe the following touching upon similarities and differences 1.) Classical school of thought (short run vs. long run) 2.) Keynesian school of thought (short run vs. long run) 3.) Adaptive expectations (backward looking, see what happens than react) vs. rational expectations (forward looking, if think something will happen for sure in the future, you react now and do not wait to see what happens, if you do it will be too late). In the latter does it matter whether a policy change is anticipated early or unanticipated? 4.) Monetarist (this would be the in between case where SAS curve is upward sloping). How do workers suffer from “money illusion” 5.) When the Federal Reserve increases the money supply unexpectedly, what is the impact on the price level and RGDP in the short run and long run? How do your conclusions change depending on the schools of thought listed above? 6.) Why is there an inverse relationship between investment demand and interest rates?
You work at a Gazebo company (Shady Tents) and you hire an economist to estimate the price elasticity of demand for your product, and the estimate is .9 (in absolute value) and this has been fairly stable over the last year.
He proposed an increased in ethanol produced from corn and the stalks and leaves from corn and other grasses. Illustrate what is the likely impact of these two events on food prices in the United States.
Use the demand curve Qd x = 20 − 2px to complete the table below. Price of x Quantity |EQx,Px | Total Revenue 0 1 2 3 4 5 6 7 8 9 10 a. Solve for the marginal revenue curve that corresponds to the demand curve. At what quantity is MR = 0? b. On a dia..
A stock is paying a dividend of $3.10 annually and has an expected rate of return of 7%. You expect the dividend to grow at a rate of 2% for the indefinite future. What price should the stock sell for?
Suppose the own price elasticity of demand for good X is -5, its income elasticity is -3, its advertising elasticity is 3, and the cross-price elasticity of demand between it and good Y is 5. Determine how much the consumption of this good will chang..
How does Ticketmaster's "dynamic pricing" affect ticket sales, total revenue and profit? Does Ticketmaster provide a valuable service, or is it a necessary evil to purchasers of event tickets?
Suppose that a certain industry is competitive and there are many firms all with the same cost function given by: LRTC=q3 - 2 q2 + 2q (MC = 3 q2 – 4 q + 2 ) The industry inverse demand curve is given by: p = 11 - .2 Q Find LR equilibrium q, Q, n, p, ..
part 1 truefalse questions. explain your answer fully.1. the risk treatment in the bene.t-cost analysis assumes risk
Jimmy deposits $4,000 now, $2,500 3 years from now, and $5,000 6 years from now. Interest is 5% for the first 3 years and 7% for the last 3 years. How much money will be in the fund at the end of 6 years? What is the present worth of the fund? What i..
What role do property rights play in creating common property resources? Why are common property resources subject to market failure due to non-excludability?
Compare and contrast the major negative fluctuation in the 1980s with that of the Great Recession (post-2007) with a focus on (i) the extent of the fluctuation and (ii) the speed of the recovery.
One bag of flour is sold for $1.00 to a bakery, which uses the flour to bake bread that is sold for $3.00 to consumers. A second bag of flour is sold to a consumer in a grocery store for $2.00. Taking these three transactions into account, what is th..
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