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You are responsible for economic policymaking in your country. Your desire is to eliminate inflation, keeping prices absolutely stable at
P = 100, no matter what happens to output. Currently, the economy is in equilibrium at Q = 3200 (where Q = potential GDP) and P = 100.
You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run.
a. How would you respond to the following scenarios?
b. Explain and illustrate how each of these events would affect aggregate demand, aggregate supply, and prices, then explain how you would respond with economic policies. Please show illustrations showing the movement of the AS and AD curves.
1. A surprise increase in investment spending2. Catastrophic floods that cause a sharp food price increase3. A productivity decline that reduces potential output4. A deep depression in East Asia that causes a sharp decrease in net exports to the United States.
Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater than, less than, or equal to $10? How might you dete..
Gentleman Gym just paid its annual dividend of $3 per share, and it is hugely expected that the dividend will raise by five percent per year indefinitely.
An economy begins in long-run equilibrium, and then a change in government regulations allows banks to start paying interest on checking accounts.
Select 5-innovations associated with Industrial Revolution and five innovations from Technological Revolution. For each innovation, recognize the effects it had on individuals, societies, businesses, and politics.
Aztec Enterprises depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising, but no more than this amount.
What output will an individual firm be restricted if this price is to be maintained (assume all firms are permitted to produce the same level of output)?
(Money Supply Versus Interest Rate Targets) Assume that the economy's real GDP is growing. a. What will happen to money demand over time b. If the Fed leaves the money supply unchanged, what will happen to the interest rate over time
A group of participants were given a large number of products to evaluate. The products are formed by fully crossing all the levels of relevant attributes.The participants’ task is to evaluate each product on an overall liking score.
Suppose you were a store manager and wanted to increase total revenue for the store by lowering the price of a good. What type of elasticity would have to exist in order for you to be successful
state whether each of the following events will result in a movement along the demand curve for mcdonalds big mac
A monetarist investigator might say that the sewer flow of 6,000 gallons an hour consisted of an average of 200 gallons in the sewer at any one time with a complete turnover of the water 30 times every hour."
Distinguish between the terms bundling, multidivisional, matrix and network organizational structures. Why is decentralization a good strategy? What are possible disadvantages of this strategy?
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