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Download and Read "Questions about Fiscal Policy: Implications from the Financial Crisis of 2008-2009." By N. Gregory Mankiw.After reading the article, answer the following questions:1) During the crisis of 2008-2009, the Obama's administration's stimulus package of 2008 included both government purchases ($787 billion were invest in infrastructure, education, health, and renewable energy) and tax rebated (at least $300 tax rebate per eligible single individual and at least $600 for married couples) to stimulate the economy. From the textbook, we know that government purchases multiplier is larger than the tax multiplier. Since tax multiplier is smaller in the economy (per textbook), wouldn't it make more sense to only focus on the government purchases in the economic stimulus of 2008? What empirical insight does the article by Mankiw provide on the decision of the Obama administration to have both large government purchases and tax rebates in 2008 as part of the stimulus?2) According to the article, what are some of the more subtle (indirect) ways that economy can be stimulated through tax incentives? Given what you have learned about the supply -side economics, defend a position on using taxes more/less than government purchases as a fiscal tool.3) Value-added tax (VAT) is a tax widely used in Europe, as discussed in the article. What would supply-side economists say about potential implications for the economy of VAT in the U.S. if such tax was to be implemented?
It was reported that the price of kerosene heaters skyrocketed and the number purchased increased during this time.
Illustrate on your graph and in words all important points and areas on the business cycle.
Draw their budget set (the combination of housing and other goods that they can afford) in housing-other goods space.
Compute the unemploymet rate and the labor forceparticipation rate,and compare thse raes wth those in the United States in 2009.
q1. assume that restaurant charges 11 meal for 180 meals as well as that the marginal cost of the 180th meal is 8 in
If you were a manager of a large manufacturing company and decided to offshore labor-intensive production to another country, how would you justify the decision to your employees and the community
Discuss how the distribution of income among various groups of income earners have changed in this country during the past 50 years. In your opinion, do we need to initiate any policy to address the distribution of income?
If the demand for gold residue high explain what would happen to the price in excess of time.
Does disposable income measure the before-tax income received by resource suppliers
Demand Function: Q=1,000 - 40 P MR=25-0.05 Cost Function: 4,000 + 5Q How do you achieve the optimal price and quantity? How do you formulate the solution?
New York City's banking community served many of the functions of a central bank during large parts of the "displaced 19th century". Discuss.
A Japanese carmaker plans to expand its production in the United States. The company borrowed $170 million for this expansion at an interest rate of 8% per year. The loan will be repaid in equal payments at the end of each year over a 15-year period...
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