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Suppose the economy is initially in long-run equilibrium. Due to decline in house prices, suppose that consumers reduce their consumption spending. (a) Explain how the decline in consumer spending affects the AD curve. (b) If the fed does not change its monetary policy rule, how will the fed react to the decline in consumer spending? Use an AD/AS diagram to illustrate and explain your answer. (c) Now, in addition to the decline in consumer spending, suppose that the economy experiences an adverse inflation shock. (i) Explain how the adverse inflation shock affects the AS curve. (ii) Discuss, using AD-AS diagram, what choices the Fed now must make regarding monetary policy. (Hint: Think about whether or not it should tighten monetary policy).
while a decrease in price of pizzas rotates it rightward. How can we possibly speak systematically about people's preferences.
The Wilson Company's marketing manager has determined that the price elasticity of demand for its products equals.
Explain how will the increase in unemployment benefits affect output and the price level in the short run and in the medium run.
Illustrate what is the value of the money multiplier. What is the value of the nominal money supply. What are the nominal values of deposits, currency, and reserves.
Fully evaluate these regression results, including computation of t-statistics, adjusted R2, and the F-statistic.
Develop hypothetical supply and demand schedules for your good or service. Plot the schedules onto your graph and label the curves with D for demand and S for supply.
Write down the multiple regression equation. Evalute the regression coefficients using ordinary least squares and interpret them.
Suppose that in the 1990's, the average retail price of a roll of Kodak film was $6.95 and that Kodak's marginal cost was $3.475 per roll. Based on this information, discuss industry concentration.
Explain why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run.
Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams.
would there be any automatic Stabilizers in government budget. Would re be any distinction between full-employment deficits and actual beget deficit.
During the Great Recession, like any other economic downturns, as unemployment rises, aggregate income declines causing a major decline in tax collections.
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