Homework Answers
Ans) the correct option is d) The economy is slow to self-correct or the recession is very severe
fiscal policies can be implemented in time if it takes a long time for an economy to self-correct.
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The existence of lags in designing and implementing fiscal policy helps illustrate some of the limitations...
- Problem set o Seved Help Limitations of Fiscal Policy Exercise 2 The graph below depicts...
- Problem set o Seved Help Limitations of Fiscal Policy Exercise 2 The graph below depicts an economy where a decline in aggregate demand has caused a recession. The economy's current level of real GDP (Y) is below its long-run equilibrium, which is illustrated by the long-run aggregate supply curve (LRAS), and a price level (P4) below the equilibrium value of Pe a. Use the graph to illustrate what happens when government-enacted expansionary fiscal policy happens too slowly-that is, when...
Among the most important problems of implementing fiscal policy include all except which of the following?...
Among the most important problems of implementing fiscal policy include all except which of the following? Correctly timing the desired fiscal stimulus, given the inevitable lags and forecasting errors Determining how large a stimulus to apply Assessing when policy actions should be reversed Determining how long a time lag to apply If the central bank does not use accommodating monetary policy, a fiscal stimulus is likely to increase interest rates, which in turn, will cause planned investment to decrease. What...
FISCAL POLICY IN THEORY: March, 2020: we are on the verge of Congress and the President...
FISCAL POLICY IN THEORY: March, 2020: we are on the verge of Congress and the President passing legislation that will empower the federal government to spend an unprecedented amount of EXTRA money not seen since World War 2 ---- in order to address the pandemic but also to help cushion the blow financially of perhaps ten or twenty million Americans --- or more --- losing their jobs, and thus suffering a drop in income. The scale of the 2020 recession...
- Problem set o Seved Help Limitations of Fiscal Policy Exercise 2 The graph below depicts an economy where a decline in aggregate demand has caused a recession. The economy's current level of real GDP (Y) is below its long-run equilibrium, which is illustrated by the long-run aggregate supply curve (LRAS), and a price level (P4) below the equilibrium value of Pe a. Use the graph to illustrate what happens when government-enacted expansionary fiscal policy happens too slowly-that is, when...
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