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Consider the following changes in the macroeconomy. Show how to think about them using the IS curve, and explain how and why GDP is affected in the short run.
The Federal Reserve undertakes policy actions that have the effect of lowering the real interest rate below the marginal product of capital.
Consumers become pessimistic about the state of the economy and future productivity growth.
Improvements in information technology increase productivity and therefore increase the marginal product of capital
John Taylor of Stanford University proposed the following monetary policy rule: R_t-r ¯=m ¯(π_t-π ¯ )+n ¯Y ~_t. That is, Taylor suggests that monetary policy should increase the real interest rate whenever output exceeds potential.
What is the economic justification for such a rule?
Combine this policy rule with the IS curve to get a new aggregate demand curve. How does it differ from the AD curve we considered in the chapter? Consider the response of short-run output to aggregate demand shocks and inflation shocks.
Some economists have argued that if the government wishes to subsidize health care, it should instead provide predetermined sums of payments (based on the type of health care problems experienced) directly to patients, who then would be free to ch..
suppose a women marries her butler. after they are married, her husband continues to wait on her as before, and she conitues to support him as before ( but as husband rather than as an employee). how does the marriage affect GDP
Over the past 25 years, tuition at Brockport State has been steadily rising. During the same time period, the number of students attending has also been increasing. It looks like the quantity is going up as the price increases in violation of the ..
If this firm was under perfect competition, what would be the efficient level of output in the long run?
As a project manager, dealing with conflict is part of the job. There are many sources of conflict; one source that is often overlooked is the manager. Based on the Week 4 reading and lecture, what managerial actions can cause workplace conflict.
Suppose the recipient of a kidney transplant has stated that she would prefer 5 years of perfect health to the 10 years she expects to live with her transplant.
How do individual firms in a perfectly competitive industry respond to an increase in the market demand for the product? Would advertising by individual firms in this type of market provide any benefits?
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its product into basic and ultimate Vista editions
The manager of a public utility supplying electricity to a significant portion of a geographic region presides over an electrical generation facilities that can make electricity using either natural gas or oil,
During middle years of this decade, the exchange rate of the United States dollar has declined against the currencies of its major trading partners.
Write a brief report describing what shift factors of supply and/or demand might be at work and how you would label those factors. Conclude the report with your forecast of what would likely result one month after the publication of the article.
The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800, and so on. How much revenue will each acre generate? what are the TR and MR for each acre?
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