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If there is a new government rule requiring cars to have a minimum fuel economy, how would externalities explain why th...
1. Explain why and how the United States government became involved in dealing with the economy?...
1. Explain why and how the United States government became involved in dealing with the economy? 2. How did the farmers react to the economic problems (monopolies being one of the problems). 3. Give examples of how the United States is an imperialist nation.
Determine how each of the following monetary or fiscal policy would shift the aggregate demand curve. Illustrate and explain the following effect. a. As the economy is in the state of recession, the government decided to increase government spen
1. Determine how each of the following monetary or fiscal policy would shift the aggregate demand curve. Illustrate and explain the following effect. a. As the economy is in the state of recession, the government decided to increase government spending. b. Central bank decided to fight an inflationary economy by reducing money supply. c. Under full employment economy, the government has decided to increase taxes on income earned by people.
LO1 - The government is concerned on the impact that Brexit may have on the UK car industry. Explain which factors you think are key to the Supply and Demand for UK cars: Evaluate how demand and sup...
LO1 - The government is concerned on the impact that Brexit may have on the UK car industry. Explain which factors you think are key to the Supply and Demand for UK cars: Evaluate how demand and supply result in price equilibrium in the car market. Analyse factors that may cause supply and demand for UK cars to shift. Evaluate how government intervention in a market can cause the car market to change.
Assume that a hypothetical economy with an MPC of.8is experiencing severe recession. a) By how much...
Assume that a hypothetical economy with an MPC of.8is experiencing severe recession. a) By how much would government spending have to increase to shift the aggregate demand curve rightward by $50 billion (nominal terms)? Ans: Show work: b) How large a tax cut would be needed to achieve this same increase in aggregate demand (nominal terms)? Ans: Show work: c) Why the difference in a) and b) above? (One sentence)
1.b. Fiscal policy is said to suffer from ‘crowding out’. Explain what this means and why...
1.b. Fiscal policy is said to suffer from ‘crowding out’. Explain what this means and why it is a problem. Should the Federal budget always be balanced? 2. a. Describe the main goals of monetary policy and explain how a change in interest rates can affect the different categories of aggregate demand. (5 marks) b. You are the Reserve Bank Governor and are reviewing the following economic data: Real GDP growth rate: 4.2% Unemployment rate: 4.6% Inflation rate: 3.8% Determine...
The fuel economy sticker on a new SUV’s window sticker indicates the owner can expect 16...
The fuel economy sticker on a new SUV’s window sticker indicates the owner can expect 16 mpg in city driving and 20 mpg highway driving and 18 mpg overall. Accurate gasoline records for one such vehicle were kept, and a random sample of mileage per tank of gasoline was collected: 17.6 17.7 18.1 22.0 17.0 19.4 18.9 17.4 21.0 19.2 18.3 19.1 20.7 16.7 19.4 18.2 18.4 17.1 17.4 15.8 17.9 18.0 16.3 17.5 17.3 20.4 19.1 21.0 18.1 19.0...
1 a. Suppose the government cuts transfer payments in an economy with an inflationary gap. How...
1 a. Suppose the government cuts transfer payments in an economy with an inflationary gap. How would this policy affect bond prices, interest rates, investment, the exchange rate, net exports, real GDP, and the price level? Show your results graphically. b. Given the nature of the implementation lag discussed in the text, discuss possible measures that might reduce the lag. 2 a. Federally funded student aid programs generally reduce benefits by $1 for every $1 that recipients earn. Do such...
Explain why Qm does not maximize the total surplus in the economy. (Answer this in words...
Explain why Qm does not maximize the total surplus in the economy. (Answer this in words but also to make the point numerically, calculate TS at Qso) d. What is the Deadweight Loss? e. What can the government do to correct the problem? Explain how we know this. c. 2. (Taken from Mankiw Question 6 Chapter 10) The many identical residents of Whoville love drinking Zlurp. Each resident has the following willingness topay for the tasty refreshment: First bottle Second...
PLEASE EXPLAIN YOUR ANSWERS. THANK YOU! If education produces positive externalities and the government does not intervene in the market, we would expect O the equilibrium price to be higher than...
PLEASE EXPLAIN YOUR ANSWERS. THANK YOU!
If education produces positive externalities and the government does not intervene in the market, we would expect O the equilibrium price to be higher than the optimal price. b. the equilibrium quantity to be lower than the optimal level. c.the equilibrium quantity to be higher than the optimal level. d. both a and b are correct Tradable pollution permits a. have prices that are set by the government. b. will be more valuable to...
6) (10 pts) Some businesses have bemoaned the high minimum wage saying they can't afford to...
6) (10 pts) Some businesses have bemoaned the high minimum wage saying they can't afford to pay workers such high wages. One business owner said, "No business owner should have to let the government decide how to run their business." Assume the unemployment rate is extremely low at the Federal minimum wage of $7.25; there is no "extra" or surplus labor in the economy. In fact, employers are claiming they can't find workers to fill positions. (Zero unemployment is unachievable...
Assume that a hypothetical economy with an MPC of.8is experiencing severe recession. a) By how much would government spending have to increase to shift the aggregate demand curve rightward by $50 billion (nominal terms)? Ans: Show work: b) How large a tax cut would be needed to achieve this same increase in aggregate demand (nominal terms)? Ans: Show work: c) Why the difference in a) and b) above? (One sentence)
Explain why Qm does not maximize the total surplus in the economy. (Answer this in words but also to make the point numerically, calculate TS at Qso) d. What is the Deadweight Loss? e. What can the government do to correct the problem? Explain how we know this. c. 2. (Taken from Mankiw Question 6 Chapter 10) The many identical residents of Whoville love drinking Zlurp. Each resident has the following willingness topay for the tasty refreshment: First bottle Second...
PLEASE EXPLAIN YOUR ANSWERS. THANK YOU!
If education produces positive externalities and the government does not intervene in the market, we would expect O the equilibrium price to be higher than the optimal price. b. the equilibrium quantity to be lower than the optimal level. c.the equilibrium quantity to be higher than the optimal level. d. both a and b are correct Tradable pollution permits a. have prices that are set by the government. b. will be more valuable to...
6) (10 pts) Some businesses have bemoaned the high minimum wage saying they can't afford to pay workers such high wages. One business owner said, "No business owner should have to let the government decide how to run their business." Assume the unemployment rate is extremely low at the Federal minimum wage of $7.25; there is no "extra" or surplus labor in the economy. In fact, employers are claiming they can't find workers to fill positions. (Zero unemployment is unachievable...
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