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Use the aggregate demand (AD) and aggregate supply (AS) model to show and discuss the effects of the following events on real output (Y), general price level (P), and employment, in the short run and in the long run. Assume that economy is initially in full employment at point A, that prices and wages are sticky in the short run but flexible in the long run, that there is no counteracting fiscal or monetary policy. Treat each case separately, and in each case explain why and in what ways the aggregate demand and/or aggregate supply will be affected. Price level (P) LRASSRASP A YN = potential GDPAD Real GDP (Y)YN a. Because of the increasing tension between Russia and Ukraine, oil prices rise dramatically.b. With greater confidence in the economy, investment in residential and business construction increases. c. The value of the U.S. dollar continues to rise against the euro and the Japanese yen.d. In response to increasing uncertainty about the economy, consumer confidence keeps falling for three consecutive quarters. e. In order to stimulate the economy, the Congress enacts a 10 percent reduction in personal income taxes.f. The Federal Reserve conducts an expansionary monetary policy by lowering the federal funds rate.g. A sharp decline in the rate of growth of income in European Union countries reduces their demand for American products.
You are the manager of a firm that competes against four other firms by bidding for government contracts. While you believe your products is better than the competition, the government purchasing agent views the products as identical
Write down his budget constraint and a utility function that captures his preferences. Draw his budget constraint and three of his indifference curves.
What is the expected value of the company in one year, with and without expansion? Would the company's stockholders be better off with or without expansion? Explain. What is the expected value of the company's debt in one year, with or without expa..
Discuss the following statement from the standpoints of equality and efficiency: "When workers are laid off, they should be able to collect unemployment benefits until they find a new job."
Explain when an economy ever pursue a contractionary fiscal policy.
Jeff Boynton,Consider the following graph:Based on the above graph, answer the following questions for a monopoly and a perfectly competitive firm. Discuss the differences you observe in above between the monopoly and perfectly competitive firm.
What would happen to each firm's current profits if firm 1 reduced its price to $6 while firm 2 continued to charge $8?
Illustrate what other information would you want before you decided where to establish a new production facitily.
Explain how the factor changed since the recession began in December 2007 and under aggregate supply discuss institutional changes that alter the efficiency of resources.
the data contained in the following table shows the tradeoffs that occur in an economy that produces only two types of
in july 1994 a french newspaper le quotidien suspended the publication. in order to promote their income in the face of
The night before an economic exam, you decide to go to the movies instead of staying home and working your MyEconLab study plan. You get 50 percent on your exam compared with the 70 percent that you normally score. a. Did you face a tradeoff?
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