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Macroeconomics
1. Using AD/AS, describe the short-run and long-run effects of an increase in the money supply on the equilibrium level of production and the price level. Be sure to explain what happens to Total Expenditures (using the 3 effects of spending changes as a result of changes in the price level).
2. Using AD/AS, describe the short-run and long-run effects of an increase in the price of oil.
2. Using AD/AS, describe the short-run and long-run effects of an increase in the price of oil.
Macroeconomics
MPC=0.4
Size of imports and taxes =0
What will be the size of aggregate expenditure multiplier?
Size of imports and taxes =0
What will be the size of aggregate expenditure multiplier?
Macroeconomics
Why might a government take responsibility for production in an economy
Macroeconomics
Consider an open economy characterized by the equations below.
C=Co+C1(Y-T)
I=do+d1Y
IM=m1Y
X=x1y*
The parameters m1 and x1 are the propensities to import and export. Assume that the real exchange rate is fixed at value of 1 and treat foreign income, Y*, as fixed. Aslo assume that taxes are fixed and that government purchaes are exogenous (i.e. decided by the government). We explore the effectiveness of changes in G under alternative assumptions about the propensity to import.
A. Write the equilbrium conditon in the market for domestic good and solve for Y.
B. Suppose government puchases increase by one unit. What is the effect on output? (Assume that 0<m1<c1+d1<1. Explain why.)
C. How do net exports change when government purchases increase by one unit?
C=Co+C1(Y-T)
I=do+d1Y
IM=m1Y
X=x1y*
The parameters m1 and x1 are the propensities to import and export. Assume that the real exchange rate is fixed at value of 1 and treat foreign income, Y*, as fixed. Aslo assume that taxes are fixed and that government purchaes are exogenous (i.e. decided by the government). We explore the effectiveness of changes in G under alternative assumptions about the propensity to import.
A. Write the equilbrium conditon in the market for domestic good and solve for Y.
B. Suppose government puchases increase by one unit. What is the effect on output? (Assume that 0<m1<c1+d1<1. Explain why.)
C. How do net exports change when government purchases increase by one unit?
Macroeconomics
For each of the following situations, indicate the direction of the shift in the supply curve or the demand curve for dollars, the factor causing the change, and the resulting movement of the equilibrium exchange rate for the dollar in terms of foreign currency:
a. American-made cars become more popular overseas.
b. The United States experiences a recession, while other nations enjoy economic growth.
c. Inflation rates accelerate in the United States, while inflation rates remain constant in other nations.
d. Real interest rates in the United States rise, while real interest rates abroad remain constant.
e. The Japanese put quotas and high tariffs on all imports from the United States.
f. Tourism from the Unites States increases sharply because of a fare war among airlines.
a. American-made cars become more popular overseas.
b. The United States experiences a recession, while other nations enjoy economic growth.
c. Inflation rates accelerate in the United States, while inflation rates remain constant in other nations.
d. Real interest rates in the United States rise, while real interest rates abroad remain constant.
e. The Japanese put quotas and high tariffs on all imports from the United States.
f. Tourism from the Unites States increases sharply because of a fare war among airlines.
Macroeconomics
Suppose the consumption function is C=$200+0.8Y
a. What is the amount of autonomous consumption?
a. What is the amount of autonomous consumption?
Macroeconomics
How do you find the percent changes in nominal GDP and real GDP?
Macroeconomics
An employer offers his or her employee the option of shifting x units of income from next year to this year. That is, the option is to reduce income next year by x units and increase income this year by x units.
a) Would the employee take this option (use a diagram)?
b) Determine, using a diagram, how this shift in income will affect consumption this year and next year and saving this year. Explain your results.
a) Would the employee take this option (use a diagram)?
b) Determine, using a diagram, how this shift in income will affect consumption this year and next year and saving this year. Explain your results.
Macroeconomics
Suppose that the CPI for a particular economy rose from 110 to 120 in year 1, 120 to 130 in year 2, and 130 to 140 in year 3. We could conclude that this economy is experiencing:
a.accelerating inflation.
b.deflation
c.disinflation.
d.a constant rate of inflation.
a.accelerating inflation.
b.deflation
c.disinflation.
d.a constant rate of inflation.
Macroeconomics
Consider the following setup for a hypothetical economy:
People Employed = 1,573,825
Labor Force = 1,984,327
Total Population = 2,341,192
Natural Rate of Unemployment = 5.65%
Discouraged Workers = 238,649
------------------------------------------------------------
How many people are either structurally or frictionally unemployed?
Note: Enter the actual number of people.
People Employed = 1,573,825
Labor Force = 1,984,327
Total Population = 2,341,192
Natural Rate of Unemployment = 5.65%
Discouraged Workers = 238,649
------------------------------------------------------------
How many people are either structurally or frictionally unemployed?
Note: Enter the actual number of people.
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#339914 on Dec 2023
#339914 on Dec 2023