Distinguish between the short-run and the long-run in a macroeconomic analysis. Why is the relationship between...
Distinguish between the short-run and the long-run in a macroeconomic analysis. Why is the relationship between unemployment and inflation different in the short-run and the long-run?
Homework Answers
According to phillips curve in macroeconomics there is an inverse relationship between inflation and unemployment in short run.
In long run, there is no relation between unemployment and inflation. In long run, output will be at full employment output.
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Distinguish between the short-run and the long-run in a
macroeconomic analysis. Why is the relationship between...
Consider the relationship between inflation, output, and unemployment. Think about the economy in the long run....
Consider the relationship between inflation, output, and unemployment. Think about the economy in the long run. In the long run, what determines unemployment? (2 points) In the long run, what determines output (GDP)? (2 points) In the long run, what determines inflation? (2 points) In the long run, is there a tradeoff between inflation and unemployment? Explain why or why not (3 points).
The economy is in long-run macroeconomic equilibrium when the point of short-run macroeconomic equilibrium is on...
The economy is in long-run macroeconomic equilibrium when the point of short-run macroeconomic equilibrium is on the long-run aggregate supply curve. Using a graph, depict and explain the short-run versus long-run effects of: I. A contractionary monetary policy resulting in demand shock on the long-run macroeconomic equilibrium. Use one contractionary monetary policy to illustrate your analysis, explain the nature of the policy and clearly depict the direction of the shift and changes in the equilibrium point, where necessary. II. An...
Explain the tradeoff between inflation and unemployment in the short-run and the long-run.
Explain the tradeoff between inflation and unemployment in the short-run and the long-run.
Do you think our government should focus on the long run or the short run? Why...
Do you think our government should focus on the long run or the short run? Why do you feel that way? How do you think policies would change if the government focused only on the long run? Attachments Skills Explain macroeconomic perspectives on demand and supply. Explain how the aggregate demand/aggregate supply model incorporates growth, unemployment, and inflation. Compare and contrast neoclassical and Keynesian views using the aggregate demand/aggregate supply model to understand the economy.
The Phillips curve exhibits Short-run Phillips curve Inflation rate (%per year) A. the direct relationship between...
The Phillips curve exhibits Short-run Phillips curve Inflation rate (%per year) A. the direct relationship between the unemployment and the inflation rates 0 B. the situation where cyclical unemployment becomes zero. O C. the inverse relationship between the actual and the natural rate of unemployment. D. the relationship between the unemployment and the inflation rates Use the line drawing tool to draw a short-run Phillips curve. Properly label this line Note: if you are not prompted for a label, you...
Macroeconomic What is sweet spot unemployment rate" in the short run that seems to balance inflation...
Macroeconomic What is sweet spot unemployment rate" in the short run that seems to balance inflation and unemployment? what percent would that likely be?
Give five explanations for the trade-off between unemployment and inflation in the short and long run.
Give five explanations for the trade-off between unemployment and inflation in the short and long run.
5. Consider the relationship between inflation, output, and unemployment. a. Think about the economy in the...
5. Consider the relationship between inflation, output, and unemployment. a. Think about the economy in the long run. i. In the long run, what determines unemployment? ii. In the long run, what determines output (GDP)? iii. In the long run, what determines inflation? iv. In the long run, is there a tradeoff between inflation and unemployment? Explain why or why not
What is the relationship between real interest rat and inflation rate in the long run and...
What is the relationship between real interest rat and inflation rate in the long run and short run? explain with figure.
What is the relationship between real interest rat and inflation rate in the long run and...
What is the relationship between real interest rat and inflation rate in the long run and short run? explain with figure.
The Phillips curve exhibits Short-run Phillips curve Inflation rate (%per year) A. the direct relationship between the unemployment and the inflation rates 0 B. the situation where cyclical unemployment becomes zero. O C. the inverse relationship between the actual and the natural rate of unemployment. D. the relationship between the unemployment and the inflation rates Use the line drawing tool to draw a short-run Phillips curve. Properly label this line Note: if you are not prompted for a label, you...
What is the relationship between real interest rat and inflation rate in the long run and short run? explain with figure.
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