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Use the hypothetical economy data in the table below to answer the following questions. Amount of Real GDP Demand, in Billions Price Level (Price Index) Amount of Real GDP Supplied, in Billions $180 300 $500 260 250 400 300 200 300 420 150 200 560 100 100 a) What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy? Use Excel to graph both the aggregate demand and aggregate supply curves. Can there be equilibrium level of output at below full employment? b) At what price level will aggregate supply FALL BELOW [equal] aggregate demand? At what price level will demand fall below aggregate supply? If given a price level of 250, will aggregate demand exceed supply? c) If the aggregate demand schedule shifted by $140 billion to the right at every level, what would be the new equilibrium level of income?
Consider an investor with preferences given by the utility function U = E(r) – 0.5Aσ2 and there are two portfolios with the following characteristics: Portfolio A Portfolio B E(r) = 0.06 E(r) = 0.10 σ = 0.07 σ = 0.17 (a) suppose that the investor has..
As reserve requirement increases, money creation increase. The money value and price level are in inverse relation. The nominal interest rate is related to inflation. An inflation tax is tax put onto inflation. Government expenditure belongs to the a..
What are the advantages and disadvantages of a “bailout” for an industry such as financial or automotive? Please give several examples and document any sources/data as appropriate. What is your opinion about government involvement and financial suppo..
Elucidate what happen in the short run to market supply and demand curves, market price, the firm's output, the firm's profit.
Inflation is not the result but the cause of monetary emission. As there's inflation (because of other reasons not important here), people need more money and the central bank needs to print more money. How can you argue against that? As it seems to ..
And within a few months, they reduced the amount of scrap to $7,000 worth [per year]." Was this necessarily an economically efficient move? Explain your answer.
Suppose you own a portfolio consisting of $250,000 of long-term U.S. government bonds. What is the least risky security you can think of? Explain. Would your portfolio be riskless? Explain.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 80 - 0.25P, and the marginal cost of production is $120. Determine the optimal number of units to put in..
q1. 1. what value enhancers affected your choice of the school you attend?2. did you consider size location price
A new piece of machinery, when placed in service is estimated to cost $225,000. It is expected to produce revenue of $75,000 and operating and maintenance expenses are expected to be $9,000 per year. The useful life of the equipment is 5 years and it..
The price of hamburger meat in College Town has recently fallen. Explain in detail the effects of this price change on the demand, supply, equilibrium price, and equilibrium quantity exchanged for fast food hamburgers in College Town and why. Draw a ..
Define the “natural rate of unemployment” and show that its two equations are equivalent. What are its causes and what is its significance for public policy? Define “structural unemployment” and explain its causes. Use a labor market diagram to show ..
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