Homework Answers
The section of the curve to the left of A where it is an upward sloping is Expansion
Point A is peak whereas
section of the curve from A to B is recession and point B is trough
Area to the right of B is Recovery
MCQ ans is A
NBER measures recession
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Identify the following parts of the business cycle using the figure to the right The section...
(1) Playing with data: Download quarterly, seasonally adjusted data on US real GDP, personal cons...
(1) Playing with data: Download quarterly, seasonally adjusted data on US real GDP, personal consumption expenditures, and gross private domestic investment for the period 1947q1 - 2010q2. You can download these series from the Bureau of Economic Analysis (BEA) or the St. Louis Fed FRED database. (a) Take the natural logarithm of each series (ì=ln(series)î in Excel) and plot each against time. Which series appears to move around the most? Which series appears to move around the least? (b) The...
1. Your friend asked you what a business cycle means. You tell them that a business...
1. Your friend asked you what a business cycle means. You tell them that a business cycle reflects changes in real GDP. Then you tell them that the stages of a business cycle in correct order are: a. expansion, trough, recession, peak b. expansion, peak, recession, trough c. trough, expansion, recession, peak 2. The point of a fluctuation at which economy turns from a peak to a trough is called a/an ________. a. recession b. Peak c. Expansion 3. Economic...
1. Key facts about economic fluctuations The following graph approximates business cycles in the United States...
1. Key facts about economic fluctuations The following graph approximates business cycles in the United States from the first quarter of 1947 to the third quarter of 1951. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2170 REAL GDP (Billions of dollars) 1770 1947 1948 1950 1 1951 1949 YEAR Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13,...
A central back engages in tight monetary policy in order to prevent inflation from undermining economic...
A central back engages in tight monetary policy in order to prevent inflation from undermining economic growth. Shift the aggregate demand (AD) curve on the graph below to show the impact of this policy on the economy. Provide your answer below: Price Level Aggregate Supply Aggregate Demand Real GDP QUESTION 25 - 1 POINT A healthy economic climate usually involves some sort of market orientation at the making level. individual, or firm decision- Select the correct answer below: O macroeconomic...
1. Key facts about economic fluctuations The following graph approximates business cycles in the United States...
1. Key facts about economic fluctuations The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2800 2700 REAL GDP (Billions of dollars) 2600 2500 2400 1955 1956 1958 1957 YEAR 1959 Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May...
How does the unemployment rate fluctuate over the business cycle? Unemployment rate (percentage of labor force)...
How does the unemployment rate fluctuate over the business cycle? Unemployment rate (percentage of labor force) When the unemployment rate is greater than the natural unemployment rate, the output gap is When the unemployment rate is less than the natural unemployment rate, the output gap is 1044 Unemployment rate nis O A. positive; negative B. negative; positive O C. negative; zero OD. zero; positive Natural unemployment rate The graph shows the unemployment rate and the natural unemployment rate between 1980...
PLS ANSWER ALL ASAP!!! THANKS!! QUESTION 1 Which of the following is included in the calculation...
PLS ANSWER ALL ASAP!!! THANKS!!
QUESTION 1 Which of the following is included in the calculation of national income? indirect business taxes O compensation of employees rental income all of the above none of the above none of the above QUESTION 4 Rapid growth of the money supply might seem appropriate to economists, because Keynesian; the resulting inflation will have no effect on real output Keynesian; it can hasten the economy's return to a long-run equilibrium classical; stabilizing fluctuations contributes...
Macroeconomics: 2. Figure: Technological Progress and Productivity Growth Real GDP per worker (constant dollars) Productivity using...
Macroeconomics:
2. Figure: Technological Progress and Productivity Growth Real GDP per worker (constant dollars) Productivity using 2010 technology $120,000 90,000 В Productivity 60,000 using 1940 technology 30,000 0 10 20 30 40 50 60 70 80 90 100 Physical capital per worker (2000 dollars) Use Figure: Technological Progress and Productivity Growth. If there is a significant increase in human capital per worker (all other factors remaining unchanged), it is BEST indicated by a move from: O A to B. O...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify i...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify into which category it fits. If the transaction is NOT included, tell why not. Fill in the blanks: yes or no? a. Nissan builds a new automobile plant in the U.S b. Delta Airlines sells one of its existing jets to Southwest. c. Ms. Moneybags buys existing shares of GM stock d. A California winery produces a case of Merlot and...
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a....
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a. founder of modern market economics comparative advantage-argument for mutual benefits of international trade comparative advantage-emphasized job displacements of international trade founder of modern macroeconomics invented capitalism duo If a firm has trouble selling its good, it can lower price. increase demand. decrease supply. both a) and b) are correct. 6. People often pay too much for goods because they are not aware of which...
1. Key facts about economic fluctuations The following graph approximates business cycles in the United States from the first quarter of 1947 to the third quarter of 1951. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2170 REAL GDP (Billions of dollars) 1770 1947 1948 1950 1 1951 1949 YEAR Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May 15, 13,...
A central back engages in tight monetary policy in order to prevent inflation from undermining economic growth. Shift the aggregate demand (AD) curve on the graph below to show the impact of this policy on the economy. Provide your answer below: Price Level Aggregate Supply Aggregate Demand Real GDP QUESTION 25 - 1 POINT A healthy economic climate usually involves some sort of market orientation at the making level. individual, or firm decision- Select the correct answer below: O macroeconomic...
1. Key facts about economic fluctuations The following graph approximates business cycles in the United States from the first quarter of 1955 to the third quarter of 1959. The vertical blue bar coincides with periods of 6 or more months of declining real gross domestic product (real GDP). 2800 2700 REAL GDP (Billions of dollars) 2600 2500 2400 1955 1956 1958 1957 YEAR 1959 Source: "Current-dollar and Real GDP," Bureau of Economics Analysis, last modified May 1, 13, accessed May...
How does the unemployment rate fluctuate over the business cycle? Unemployment rate (percentage of labor force) When the unemployment rate is greater than the natural unemployment rate, the output gap is When the unemployment rate is less than the natural unemployment rate, the output gap is 1044 Unemployment rate nis O A. positive; negative B. negative; positive O C. negative; zero OD. zero; positive Natural unemployment rate The graph shows the unemployment rate and the natural unemployment rate between 1980...
PLS ANSWER ALL ASAP!!! THANKS!!
QUESTION 1 Which of the following is included in the calculation of national income? indirect business taxes O compensation of employees rental income all of the above none of the above none of the above QUESTION 4 Rapid growth of the money supply might seem appropriate to economists, because Keynesian; the resulting inflation will have no effect on real output Keynesian; it can hasten the economy's return to a long-run equilibrium classical; stabilizing fluctuations contributes...
Macroeconomics:
2. Figure: Technological Progress and Productivity Growth Real GDP per worker (constant dollars) Productivity using 2010 technology $120,000 90,000 В Productivity 60,000 using 1940 technology 30,000 0 10 20 30 40 50 60 70 80 90 100 Physical capital per worker (2000 dollars) Use Figure: Technological Progress and Productivity Growth. If there is a significant increase in human capital per worker (all other factors remaining unchanged), it is BEST indicated by a move from: O A to B. O...
3. Which of the following transactions will be included in the U.S. GDP? If the transaction is included, identify into which category it fits. If the transaction is NOT included, tell why not. Fill in the blanks: yes or no? a. Nissan builds a new automobile plant in the U.S b. Delta Airlines sells one of its existing jets to Southwest. c. Ms. Moneybags buys existing shares of GM stock d. A California winery produces a case of Merlot and...
Match the following: Adam Smith David Ricardo John Maynard Keynes Choices: (2 are not used.) a. founder of modern market economics comparative advantage-argument for mutual benefits of international trade comparative advantage-emphasized job displacements of international trade founder of modern macroeconomics invented capitalism duo If a firm has trouble selling its good, it can lower price. increase demand. decrease supply. both a) and b) are correct. 6. People often pay too much for goods because they are not aware of which...
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