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If your goal is to stabilize output, explain how you would change the interest rate in response to the following events (or shocks). In each case, show the effects on the economy in the short run using the IS-MP diagram.
a) Consumers become pessimistic about the state of the economy and future productivity growth.
b) Improvements in technology increase the marginal product of capital.
c) A booming economy in Europe this year increases demand for US goods.
d) A housing bubble bursts. Housing prices decline by 20 percent, and new homes sales drop sharply.
Three years ago Maricopa County implemented a policy to tackle the problem of particulate matter in the air. The project/policy consisted in paving and compacting some of the roads the dairy industry uses for feeding the cattle and transporting the m..
Suppose that the US in a steady state and that capital per worker in the US is equal to k*=10. The following picture shows the steady state of the US economy.Suppose a devastating hurricane hits the economy destroying 10 % of the capital stock so tha..
You work as part of an analysis team for a consultancy that follows the semiconductor industry. Your boss saw the story from PC World and asked you to provide some analysis for an upcoming industry conference. There’s some concern as to whether Intel..
If market inverse demand is p(Q)=a-bQ and the firm produces according to TC(Q)=cQ+dQ2, determine the firm's optimal quantity, price and profit level. (Assume that a,b,c,d >0.) What conditions on b and d must hold in equilibrium?
Some economists and policymakers argue in favor of replacing the current income tax in the USA with consumption tax. What are your opinions on the issue? How do think such change impacts your income and expenditure pattern?
Suppose that an individual's demand for the number of physician visits per year, Q, can be represented by the following equation: Q=5-0.40P, where P, the market price of an office visit, equals the marginal cost of $100. Determine the efficient numbe..
The state of NJ recently passed an increase in the minimum wage, how will this impact wages and the quantity of labor? Make sure to include the appropriate graph (starting with the initial equilibrium price and quantity) as well as who the potential ..
What are the political and legal issues of South Africa. For instance the stability of the government, legal issues of concern to four business, etc.
An irrigation return flow drain has sampling equipment that can be powered by solar cells or by running an electric line to the site and using conventional power. Solar cells will cost $14,000 to install and will have a useful life of 10 years.
A special-purpose machine is to be depreciated as a linear function of uses (units-of-production method). It costs $35,000 and is expected to produce 150,000 units and then be sold for $5,000. Up to the end of the third year, it had produced 60,000 u..
Suppose the dollar exchange rates of the euro and the yen are equally variable. Which currency, the euro or the yen, would you consider riskier.
Calisto Launch Services is an independent space corporation and has been contracted to develop and launch one of two different satellites. Initial equipment will cost $750,000 for the first satellite and $850,000 for the second.Find the external rate..
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