Homework Answers
The graph images of first two questions are not clear, thus I have answered four multiple choice questions.
Answer 3:Aggregate demand curve would shift to right.
A fall in the income taxes will increase the disposable income of the consumers and this will increase consumption expenditure which is one of the components of the aggregate demand and thus aggregate demand curve will shift rightwards.
Answer 4:Option B.
In future, a fall in the expected price level will lead to firms to increase their supply in the present and thus short run aggregate supply curve will shift rightwards and equilibrium prices will fall and equilibrium quantity would rise.
Answer 33:
rate of growth in real GDP = $20.2 trillion - $16.8 trillion / $16.8 trillion * 100 = 20.24 per cent.
Answer 34:
Rate of price inflation = 99.2 - 97.3 / 97.3 * 100 = 1.95 per cent
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Consider the information in the figure below for a hypothetical economy. What is the multiplier for...
Consider the aggregate economy for the United States in 2007 and 2008, represented by the graph below. In which...
Consider the aggregate economy for the United States in 2007 and 2008, represented by the graph below. In which year is the unemployment rate higher? Price level (GDP deflator, 2009 = 100) LRAS2007 SRAS2008 LRAS2008 SRA $2007 99.2 A 97.3 AD2007 AD2008 14.83 14.84 14.88 15.20 Real GDP (trillions of 2009 dollars) The unemployment rate is higher in 2007. The unemployment rate is equal in the two years. The unemployment rate is higher in 2008. It cannot be determined from...
Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent rounded to two...
Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent rounded to two decimal places. Use a negative sign "-" for negative changes. Do not include any symbols, such as "S," ", "%," or "," in your answer. LRAS1929 SRASi LRAS1930 SRAS1929 Price level (GDP deflator, 2009 100) 10.6 10.2 AD1930 D1929 965.8 1005.6 1006.3 1094.1...
Question 14 (1 point) Question 12 (1 point) Consider the following simplified balance sheet for a...
Question 14 (1 point) Question 12 (1 point) Consider the following simplified balance sheet for a bank. Suppose the required reserve ratio decreases from 10 percent to 5 percent. By how much can the bank increase its loans? Provide your answer in dollars measured in thousands rounded to two decimal places. Do not include any symbols, such as "$", "%," or ","in your answer. Suppose the supply of money, measured by M1, is $3.0 trillion, output, measured by real GDP,...
14/1meinti Question 12 (1 point) Suppose the supply of money, measured by M1, is $3.0 trillion,...
14/1meinti Question 12 (1 point) Suppose the supply of money, measured by M1, is $3.0 trillion, output, measured by real GDP, is $16.6 trillion, and the velocity of money is 6.5. Suppose the supply of money increases to $3.5 trillion but GDP and the velocity of money do not change. What is the percent by which prices change? Provide your answer as a percentage rounded to two decimal places. Do not include any symbols, such as "S, "," "% ,"...
Consider the following simplified balance sheet for a bank. Suppose the required reserve ratio decreases from 10 percen...
Consider the following simplified balance sheet for a bank. Suppose the required reserve ratio decreases from 10 percent to 5 percent. By how much will bank deposits increase? Provide your answer in dollars measured in thousands rounded to two decimal places. Do not include any symbols, such as "$," "=," "%," or "," in your answer. Assets Liabilities Reserves $10 thousand Deposits $100 thousand Consider the following simplified balance sheet for a bank. Suppose the required reserve ratio decreases from...
Question 12 (1 point) Suppose the price level, as measured by the GDP deflator, is 1.14,...
Question 12 (1 point) Suppose the price level, as measured by the GDP deflator, is 1.14, the supply of money, measured by M1, is $3.4 trillion, and output, measured by real GDP, is $16.6 trillion. What is the velocity of money? Provide your answer as a number rounded to two decimal places. Do not include any symbols, such as "S," ", " "%," or "," in your answer. Your Answer: Answer Question 13 (1 point) Suppose the growth in the...
Question 33 (1 point) Suppose real GDP for an economy changes from $17.2 trillion to $20.9...
Question 33 (1 point) Suppose real GDP for an economy changes from $17.2 trillion to $20.9 trillion. What is the rate of growth in real GDP? Provide your answer as a percent rounded to two decimal places. Do not include any symbols, such as "s,"' "' "%," or "," in your answer Your Answer: Answer
1.) Suppose an economy is initially in equilibrium when GDP equals $16 trillion. Now suppose government...
1.) Suppose an economy is initially in equilibrium when GDP equals $16 trillion. Now suppose government spending increases by $0.3 trillion and that the economy's multiplier is 3. What is the new equilibrium level of GDP? Provide your answer in dollars measured in trillions round to two decimal places. Do not include any symbols, such as "$," "=," "%," or "," in your answer.
Suppose the price level, as measured by the GDP deflator, is 1.08, the supply of money,...
Suppose the price level, as measured by the GDP deflator, is 1.08, the supply of money, measured by M1, is $3.6 trillion, and output, measured by real GDP, is $21.9 trillion. What is the velocity of money? Provide your answer as a number rounded to two decimal places. Do not include any symbols, such as "$," "=," "%," or "," in your answer.
Suppose the information in the following table is for a simple economy that produces only four...
Suppose the information in the following table is for a simple economy that produces only four goods and services: shoes, hamburgers, shirts, and cotton. Assume that shoes, hamburgers, and shirts are final goods and that all the cotton is used in the production of shirts. Calculate the GDP deflator for 2015. Use 2009 as the base year for the calculations. Provide your answer as a number rounded to two decimal places. Do not include any symbols, such as "$," "=,"...
Consider the aggregate economy for the United States in 2007 and 2008, represented by the graph below. In which year is the unemployment rate higher? Price level (GDP deflator, 2009 = 100) LRAS2007 SRAS2008 LRAS2008 SRA $2007 99.2 A 97.3 AD2007 AD2008 14.83 14.84 14.88 15.20 Real GDP (trillions of 2009 dollars) The unemployment rate is higher in 2007. The unemployment rate is equal in the two years. The unemployment rate is higher in 2008. It cannot be determined from...
Consider the aggregate economy for the United States in 1929 and 1930, represented by the graph below. What is the rate of growth in real GDP, if any? Provide your answer as a percent rounded to two decimal places. Use a negative sign "-" for negative changes. Do not include any symbols, such as "S," ", "%," or "," in your answer. LRAS1929 SRASi LRAS1930 SRAS1929 Price level (GDP deflator, 2009 100) 10.6 10.2 AD1930 D1929 965.8 1005.6 1006.3 1094.1...
Question 14 (1 point) Question 12 (1 point) Consider the following simplified balance sheet for a bank. Suppose the required reserve ratio decreases from 10 percent to 5 percent. By how much can the bank increase its loans? Provide your answer in dollars measured in thousands rounded to two decimal places. Do not include any symbols, such as "$", "%," or ","in your answer. Suppose the supply of money, measured by M1, is $3.0 trillion, output, measured by real GDP,...
14/1meinti Question 12 (1 point) Suppose the supply of money, measured by M1, is $3.0 trillion, output, measured by real GDP, is $16.6 trillion, and the velocity of money is 6.5. Suppose the supply of money increases to $3.5 trillion but GDP and the velocity of money do not change. What is the percent by which prices change? Provide your answer as a percentage rounded to two decimal places. Do not include any symbols, such as "S, "," "% ,"...
Question 12 (1 point) Suppose the price level, as measured by the GDP deflator, is 1.14, the supply of money, measured by M1, is $3.4 trillion, and output, measured by real GDP, is $16.6 trillion. What is the velocity of money? Provide your answer as a number rounded to two decimal places. Do not include any symbols, such as "S," ", " "%," or "," in your answer. Your Answer: Answer Question 13 (1 point) Suppose the growth in the...
Question 33 (1 point) Suppose real GDP for an economy changes from $17.2 trillion to $20.9 trillion. What is the rate of growth in real GDP? Provide your answer as a percent rounded to two decimal places. Do not include any symbols, such as "s,"' "' "%," or "," in your answer Your Answer: Answer
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