Homework Answers
Due to presence of HOMEWORKLIB POLICY, I am answering four questions.
Question 10.
Ans: It corrects for the distortion of inflation.
Explanation: Real GDP is the sum-total of the economic output produced in a year values at a pre-determined base market price. Growth in real GDP implies real economic growth.
Question 11.
Ans: government regulation of business.
Explanation: Regulation of different markets and organisations require money to be spent which can be seen as cost to government.
Question 12.
Ans: Labor.
Explanation: Aggregate demand factors are: Consumption, gov spending, net exports, investment.
Question 15.
Ans: the percentage change in GDP deflator.
Explanation: GDP deflator is a price index. A change in it implies change in price level.
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Question 9 1 pts Which of the following is a characteristic of the Policy-Activism view of...
1- Banks are always facing illiquidity. able to borrow from other banks. facing insolvency. profitable. ----------...
1- Banks are always facing illiquidity. able to borrow from other banks. facing insolvency. profitable. ---------- 2- In the income-expenditure model, macro equilibrium occurs where: The aggregate price level equals 100. Aggregate Demand equals Total Planned Expenditure. Total Planned Expenditure equals GDP. Aggregate Supply equals GDP. 3- Use statements 1 and 2 to choose the correct answer. Inflation represents a decrease in the value of money. Personal spending on higher education is one component of the CPI. Both 1 and...
1- Which of the following is a characteristic of the Policy-Activism view of economic thought? The...
1- Which of the following is a characteristic of the Policy-Activism view of economic thought? The economy is inherently stable. All of these answers are characteristics of Laissez-Faire. Competition is the driving force in economic progress. Government has a responsibility to manage the economy. 2- Use statements 1 and 2 to choose the correct answer. In the short run, aggregate demand factors are more important to determining GDP than aggregate supply factors are. In the long run, aggregate supply factors...
Question 26 2 Aggregate demand refers which of the following totals? ONominal actual expenditure Nominal planned...
Question 26 2 Aggregate demand refers which of the following totals? ONominal actual expenditure Nominal planned expenditure Real planned expenditure Real actual expenditure What does the aggregate supply and demand model show? Supply and demand relationships for the economy as a whole Supply and demand relationships for every individual good Supply and demand relationships between private businesses and the government Aggregate results for all nations 2.5 pts Which of the following issues is the least likely to be a macroeconomic...
1. Complete the table below where the cells are blank. (10 pts) Output Sensor Saving Inxstant...
1. Complete the table below where the cells are blank. (10 pts) Output Sensor Saving Inxstant Export Import ort GDP=DI Net Agg Age Unnind Output Invent Emploxmnt 250 260 310 15 330310 2. What number is unplanned inventories at output of $270 million? Explain what the unplanned inventories number means at that output level? (2 pts) 3. At $330 million of output what must happen in this open economy to reach equilibrium? (2 pts) 4. Equilibrium is achieved at what...
(1) Other things being equal, which of the following will increase aggregate expenditures? Group of answer...
(1) Other things being equal, which of the following will increase aggregate expenditures? Group of answer choices An increase in domestic prices relative to foreign prices A decrease in the interest rate A decrease in real wealth An increase in income taxes A decrease in government purchases of goods and services (2) If the current unemployment rate is 5 percent and the natural unemployment rate is 6 percent, then the economy is Group of answer choices producing a level of...
can you help on answering all of them (answer them correctly) Question 9 1 pts The...
can you help on answering all of them (answer them
correctly)
Question 9 1 pts The vertical, long-run aggregate supply curve indicates that the long-run level of economic output is dependent upon the stock of productive factors the price level government subsidies Question 10 1 pts When does the GDP gap shrink? It shrinks as the economy recovers from recession. It shrinks as the economy is contracting with government intervention. It shrinks as the government reduces the budget deficit through...
Question 1 Real measurements are expressed in constant dollars. expressed in current dollars. expressed using today’s...
Question 1 Real measurements are expressed in constant dollars. expressed in current dollars. expressed using today’s currency. Flag this Question Question 2 To measure a real increase in wages, the wages would have to be adjusted for inflation overtime. the changes would have to be averaged. the increase would have to be compared to the growth in GDP. Flag this Question Question 3 If inflation occurs in a given year, the change in the real measurement (GDP) would be equal...
Question 44 2 pts The GDP deflator: takes government purchases into account, unlike the CPI. takes...
Question 44 2 pts The GDP deflator: takes government purchases into account, unlike the CPI. takes business investment purchases into account, unlike the CPI. is generally used to adjust nominal GDP to calculate real GDP. All of the above are true. Exhibit 11-1 GDP - Expenditure Approach Category Amount Percent of GDP (billions of current dollars) Consumption (C) 70% Investment (1) 20% Government purchases (G) 15% Net exports of goods and services (X-M) Gross domestic product $9,000 100% Refer to...
1. Suppose you are given the following information about Japan's economy: C = 150 + 0.8(Y-T)...
1. Suppose you are given the following information about Japan's economy: C = 150 + 0.8(Y-T) T = 0 Iplanned = 300 NX = 50 G = 200 a) Set up the aggregate planned expenditure function for Japan. (Write down the equation). b) Graph the aggregate expenditure function, using the diagram below. Be sure to label you graph. Carefully indicate the intercept. What is the slope of the line? c) Calculate equilibrium Real GDP (Y). d) Indicate the equilibrium on...
1. In a closed economy to have sustainable output, Aggregate Expenditures are equal to
1. In a closed economy to have sustainable output, Aggregate Expenditures are equal toa. Consumptionb. Consumption + Investmentc. Consumption + Investment + Govemmentd. Consumption + Investment + Net Exports2. The calculation 1 /(1-MPC) equalsa. Marginal Propensity to Saveb. Multiplierc. Aggregate Expenditured. Average Consumption3. In a closed economy, when Aggregate Expenditures equal GDP.a. Consumption equals investmentb. Consumption equals aggregate expenditurec. Saving = Planned Investmentd. Disposable income equals consumption minus saving4. Net exports are calculated asa. Importsb. Imports - Exportsc. Exports -...
Question 26 2 Aggregate demand refers which of the following totals? ONominal actual expenditure Nominal planned expenditure Real planned expenditure Real actual expenditure What does the aggregate supply and demand model show? Supply and demand relationships for the economy as a whole Supply and demand relationships for every individual good Supply and demand relationships between private businesses and the government Aggregate results for all nations 2.5 pts Which of the following issues is the least likely to be a macroeconomic...
1. Complete the table below where the cells are blank. (10 pts) Output Sensor Saving Inxstant Export Import ort GDP=DI Net Agg Age Unnind Output Invent Emploxmnt 250 260 310 15 330310 2. What number is unplanned inventories at output of $270 million? Explain what the unplanned inventories number means at that output level? (2 pts) 3. At $330 million of output what must happen in this open economy to reach equilibrium? (2 pts) 4. Equilibrium is achieved at what...
can you help on answering all of them (answer them
correctly)
Question 9 1 pts The vertical, long-run aggregate supply curve indicates that the long-run level of economic output is dependent upon the stock of productive factors the price level government subsidies Question 10 1 pts When does the GDP gap shrink? It shrinks as the economy recovers from recession. It shrinks as the economy is contracting with government intervention. It shrinks as the government reduces the budget deficit through...
Question 44 2 pts The GDP deflator: takes government purchases into account, unlike the CPI. takes business investment purchases into account, unlike the CPI. is generally used to adjust nominal GDP to calculate real GDP. All of the above are true. Exhibit 11-1 GDP - Expenditure Approach Category Amount Percent of GDP (billions of current dollars) Consumption (C) 70% Investment (1) 20% Government purchases (G) 15% Net exports of goods and services (X-M) Gross domestic product $9,000 100% Refer to...
1. Suppose you are given the following information about Japan's economy: C = 150 + 0.8(Y-T) T = 0 Iplanned = 300 NX = 50 G = 200 a) Set up the aggregate planned expenditure function for Japan. (Write down the equation). b) Graph the aggregate expenditure function, using the diagram below. Be sure to label you graph. Carefully indicate the intercept. What is the slope of the line? c) Calculate equilibrium Real GDP (Y). d) Indicate the equilibrium on...
1. In a closed economy to have sustainable output, Aggregate Expenditures are equal toa. Consumptionb. Consumption + Investmentc. Consumption + Investment + Govemmentd. Consumption + Investment + Net Exports2. The calculation 1 /(1-MPC) equalsa. Marginal Propensity to Saveb. Multiplierc. Aggregate Expenditured. Average Consumption3. In a closed economy, when Aggregate Expenditures equal GDP.a. Consumption equals investmentb. Consumption equals aggregate expenditurec. Saving = Planned Investmentd. Disposable income equals consumption minus saving4. Net exports are calculated asa. Importsb. Imports - Exportsc. Exports -...
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