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1. Using the IS-LM model and assuming the central bank conducts monetary policy by directly setting the interest rate for liquid funds in short-term money market, explain the effect on the equilibrium level of aggregate income and the interest rate of the following:
(A) an expansionary fiscal policy;
(B) a restrictive monetary policy.
2. Explain how the equilibrium level of output and employment is determined in the Keynesian income-expenditure model (or multiplier model). Then explain how the model overcomes objections to a fiscal policy of a deficit-financed expansion in government spending to reduce any labour unemployment on the grounds of ‘crowding out'.
Suppose Lady Gaga spends all her money on make-up and clothing. When the price of makeup (Pm) is $10 and the price of clothing (Pc) is $20, Gaga’s optimal bundle is Qm(ake-up)= 4 and Qc(lothing)=3. On a graph show the substitution effect and the inco..
q.this has 3 parts so id like it to use my 3 questions if it can be counted as 1 please.alchem l is the price leader in
If the aggregate-demand curve is given by the equation P = 400 - (2 ´ Y), and long-run aggregate supply = 100, the long-run equilibrium price level equals
Consider a product that has a cost function c(y) = 10y. What is a monopolist’s optimal production plan and price? What would the equilibrium price and output be under perfect competition? what is the deadweight loss from the monopoly? (know how to so..
For each of the situations below use supply elasticity to explain the how the equilibrium price and quantity change. (a) The demand for collectable baseball cards from the 1950s increases. (b) The demand for silver decreases. (c) In the long run, the..
The unintended consequences of raising minimum wage from $8 to $12 per hour will create more unskilled unemployment in the economy. True or False, explain. The unintended consequences of raising minimum wage from $8 to $12 per hour will create more u..
Manufacturers of laundry detergent and dishwashing soap reinvest a relatively large percentage of their sales revenues on advertising campaigns. Most of these advertisements that appear on television stress the fact that their product is "New and Imp..
Interest payments on a bond are $500 twice a year. If the bond interest rate is 5% per year compounded semiannually, the bond face value is: Two mutually exclusive alternatives, A and B, are to be evaluated by the ROR method. The initial investment f..
Assume MTSU is attempting to conclude what factors drive its demand for MBA student credit hours (dependent variable). Information is available on following independent variables:
Suppose product demand is given by the column labeled D1. If the wage rate rises from $100 to $130, the firm will reduce the quantity of labor employed by _____ unit(s) Compared to an otherwise identical competitive firm, a firm with monopoly power w..
If the price of labor is constant and a firm experiences diminishing marginal product, then its. When a bank or Bank like institution borrows from individuals or firms with excess funds and lends it to those who need funds it is:
The inflation-free rate (real rate) is 2.3% per year and the inflation rate is 2.03% per year. The effective interest rate (market rate) is therefore
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