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1. (Continuation from Question 1 - please answer using the same graph as in Q1, or draw a new graph containing same information as your Q1 graph). Let B from Q1 part b represent the long run full-employment equilibrium for the money market.
a. Suppose the Brazilian central bank expanded the money supply during the Olympics, announcing that the change would be permanent. Label the point representing the combined short-run effects of the Olympics boom and the monetary expansion on the money market in the graph above with a C. Label the new forex market equilibrium C'. Is the exchange rate E BR/$ associated with C' higher or lower than it would have been if the expansion had been temporary? Explain briefly.
b. In the long run, how do the values of Ms/P and the exchange rate compare to their values at points B and B'? What are the roles of P and R in the adjustment of Ms/P and the exchange rate to their long-run equilibrium values?
What is the difference between a public good and a private good? What are the principal characteristics of each? What are the two characteristics of public goods? Why is there a free rider problem when it comes to public goods?
If you have two items which are complements in consumption and the price of one of them goes up, what happens to the demand of each of the items.
Do you think business cycles would exist, or be as severe, if these economic statistics were not reported on a regular basis or at all? Why or why not?
quotas and tariffs graphing and analysisthe following problems ask you to draw graphs illustrating trade barriers for
Why does representative democracy often tax some people in order to provide benefits to others? When governments become heavily involved in tax-transfer activities, how will this involvement affect economic efficiency?
Miss Phoneix accordingly, bought the tablets and consumed them in the manner described but instead of losing weight, she gained several kilograms.
If 96% of Chinese couples have one child which is female 50% of the time and the remaining 4% of Chinese couples engage in sex-selective abortion until they have a male child.
The cost of painting the golden gate bridge is $400000. if the bridge is painted now and every 2 years hereafter, what is the capitalized cost of painting at an interest rate of 6% per year ?
Assume that some of these drugs are legalized so that anyone may sell and use them.
Why might a perfectly competitive firm continue to produce in the short run, even though the market price is less than its average total cost?
What money supply must the Bank of Canada set next year if it wants to keep the price level stable? What money supply must the Bank of Canada set next year if it wants inflation of the ten percent?
Suppose the Demand for Real Balances is given by the following equation: (m/p)d = 1500 + 0.2Y - 10,000( r + πe). Assume M = 4,000, P = 2, πe = .01 and Y = 5,000.
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