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"You (Thai native) went to the music store and bought Korean K-pop records."
Explain the impact of the above transaction on Thailand's imports, exports, and net exports.
"Jason is a Japanese man who is on holiday in Thailand and buys handcrafted gifts for his girlfriend."
Explain the impact of the above transaction on Thailand's imports, exports, and net exports.
The recent commitment of most automotive brands to the electric vehicle market has led to an increase in global demand for semiconductor chips. Assuming that Japan is the only semiconductor supplier in the world, and the central bank adopts tight monetary policy to fight against inflation due to the rising inflation, determine what will happen to the demand for yen, the supply of yen and the exchange rate of yen to the dollar in the foreign exchange market.
Explain your answer.
Give five reasons why the aggregate supply curve for the short term is upward sloping and the aggregate supply curve for the long term is vertical.
"The Organization of Petroleum Exporting Countries (OPEC) has decided to increase the global oil price."
Identify if the above situation change/shift the aggregate supply or demand curves in the short term, or both.Use AD-AS to illustrate(draw a graph) and explain the impact of situation that change/shift the curve.
"Many manufacturers have been forced to cease semiconductor manufacturing because to the Covid-19 outbreak."
Identify if the above action changes/shift the aggregate supply curve in the short term or the aggregate demand curve in the short term, or even both. Use AD-AS to illustrate(draw a graph) and explain the effect of action that change/shift a curve.
’Many households are gloomy about the economy as a result of Covid-19, and they opt to save more.“
Identify if the above action changes/shift the aggregate supply curve in the short term or the aggregate demand curve in the short term, or even both. Use AD-AS to illustrate(draw a graph) and explain the effect of action that change/shift a curve.
Give five explanations how expanded fiscal policies may crowd out investment in sometimes (fiscal stimulus).
“The government decided to raise the taxes on people's income in an economy of full employment.”
Identify how the aggregate demand curve might be changed/shifted by the monetary or fiscal policies mentioned above. Illustrate(draw a graph) and explain the impact described above.
"The central bank chose to reduce the money supply in order to combat inflation."
Identify how the aggregate demand curve might be shifted by the above monetary or fiscal policies. Illustrate (draw a graph) and explain the impact described above.
