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Fiscal Policy
Keynes recommended that when aggregate demand slumped causing a recession or depression in output and a loss of jobs, the government should step in to increase spending.
(a) Following the collapse of systemically important banks in 2008, were the G-20 group of countries right in early 2009 to coordinate their fiscal policies and increase government spending? How would you distinguish the effect of such a policy on (i) confidence (ii) cut back in investment spending by companies (iii) averting a global meltdown or severe economic depression such as the 1930’?
(b) If you were in 2015 for one day the Minister of Finance in Italy, facing deflation, falling output, rising unemployment and a growing national debt relative to income what kind of fiscal policies would you pursue? Would you increase or cut government expenditures or raise taxes? Would you recommend structural reform in the labour market to complement your policies? Would you suggest, as all three of the leaders of the opposition parties do, that Italy leave the Euro?
If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms? Calculate the profits of these firms in either case (a and b).
Construct a PPF for a country that produces food and video games and faces increasing opportunity costs. Show how the PPF changes given the following events.
Calculate how large A would have to be so that in the new LRCE, the number of firms is twice what it was in the initial equilibrium.
What is the maximum amount of harvest that can sustainably be achieved (i.e., the maximum sustainable yield, MSY)?
Illustrate what is the smallest value of x that would be sucient to make Buck want to invest in the pinball palace rather than have a wealth of $24,000 with certainty.
It is important to remember that in a communist society difference between value of machine and value of labour-power replaced by it will always vary. Are you still thinking that Capital is blueprint for society.
If this is true, explain why does not just one state produce all of the orange juice for the U.S. market.
What is the impact of a tax cut in an economy operating under a flexible exchange rate regime on household spending, interest rates.
q1. suppose that any punitive damages awarded to the plaintiff were to be paid not to the plaintiff but rather to say a
what might prompt the government to establish this price ceiling? next suppose that the government establishes a price floor of $4.60 for wheat. what will be the main effects of this price floor?
Some businesses will examine either pricing structure and modify it in order to maximize revenue, either by raising or lowering price. Cost and Revenue Curves simulation and this week's readings could organization you have chosen lower prices to in..
One unit of labor can produce either 4 tons of papayas or 1 ton of bananas. Elucidate type of economic analysis is limited to testable, verifiable statements.
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