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Consider a two currency model where there are U.S. Dollars ($) and the Euro (€) being exchanged.
(a) Suppose a permanent decrease in the money supply causes the U.S. exchange rate ($/€) to change in the long run. Will the long run U.S. exchange rate be above or below the original equilibrium exchange rate? Please explain why we would have a new exchange rate.
(b) Will we observe exchange rate overshooting? Why? Please draw a graph to depict the time path of the U.S. exchange rate.
(c) Suppose the Federal Reserve announces the policy in part (a) one year in advance. How will your answers change? Will we observe exchange rate overshooting? Demonstrate your answer by showing the time path of the exchange rate ($/€).
Suppose you know that the actual annual rate of return on a year of education is 5% for both types. Given the numbers in par (c), which type (Alphas or Betas) most likely receives more pure enjoyment from education?
Explain how does a decrease in foreign price levels affect domestic aggregate expenditures and demand. How is the aggregate supply curve different from the supply curve for a single good, like pizza.
If asked to find a supply function for a firm in the long run, the easy for doing it is to compare AC to MC. In some cases though, that does not give the correct answer, and the profit function must be used. Can you advise in what cases this is true?..
Describe the relationship between labor productivity and growth? How do technological advancements impact labor productivity?
Some examples of political problems associated with active discretionary fiscal policy are.... [Select two] Recognition lag taxpayer-funded favors to special interests Action (administrative) lag Operational (impact) lag
Assume you have just been assigned to a project risk team composed of five members. Your task, as project manager, is to develop a process for handling risks to the project. Because this is the first time your organization has formally set up a risk ..
In the short-run, a firm can experience increasing, decreasing, or constant returns to scale. Decreasing returns to scale are often due to coordination and communication problems that create operating inefficiencies.
The method used to prepare the budget can also affect the amount of time it takes to complete the budget. For example, companies that use participative budgeting will likely take longer to complete the budget process. What is participating budgeting?..
If the CPI was 110 last year and is 116 this year, what is this year’s rate of inflation? What term do economists use to describe this second outcome? Inflation/deflation
The state government collected all taxes due, but its tax revenues were equal to $40 million each year. What happened to the sales tax base between 2006 and 2007? What could account for this result?
Suppose that consumption depends on the interest rate. How, if at all, does this alter the conclusions reached in chapter 3 of the textbook about the impact of an increase in government purchases on investment, consumption, national saving, and the i..
Find a purely/perfectly competitive industry. State why this industry is a purely competitive market. Give examples as to why. Please use the drop box to submit your extra credit assignment.
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