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MWICHIK Questions Directions: Write your answers on a separate sheet of paper. 1. For each of the three events below...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each change listed in the table below will cause an increase, decreased or no change in Aggregate Supply (AS). Always start with SEASO. 2. IN column 1, list which component of AS is affected: input prices or productivity 3. IN column 2, draw an up arrow if the change will cause an increase in AS, a down arrow if it will cause a decrease in...
Use AD-AS analysis to show how each of the events below will affect the equilibrium price...
Use AD-AS analysis to show how each of the events below will affect the equilibrium price level and real output in an economy in the short run when the aggregate supply curve is upward-sloping. Your answer must include a graph and explanation in words.Government spending increases. New technology increases the productivity of workers.
Macroeconomic Multiple Choice Questions Answer All 10 Questions* 1) If the Central Bank of Kuwait puts...
Macroeconomic Multiple Choice Questions
Answer All 10 Questions*
1) If the Central Bank of Kuwait puts in place an expansionary monetary policy, its decision is based on A) the fact that the economy is at full employment B) Expectation of excessive inflation in the future C) the fact that the economy is in an expansion D) Unemployment level is high 2) When the interest rate is set at a very low rate A) the opportunity cost of holding money is...
Complete the questions below that are based on your chapter readings. Submit your answers in a...
Complete the questions below that are based on your chapter readings. Submit your answers in a Microsoft Word document (no PDFs) by 11:00 p.m. on Sunday of Unit 4 or as directed by your professor. 1. In Goa, India, the multiplier effect of iron ore exports is calculated to be 1.62 (Ta, 2003) Calculate the impact of an additional 1,000 rupees of iron ore exports on the economy of Goa 2. Use the model of aggregate demand and short-run aggregate...
Illustrate and briefly explain the beginning of a demand-pull inflation. 3. When answering parts a and b,...
Illustrate and briefly explain the beginning of a demand-pull inflation. 3. When answering parts a and b, draw the relevant Phillips curve. Using a short-run Phillips curve, what is the effect on the unemployment rate if the inflation rate unexpectedly rises. Using a long-run Phillips curve, what is the effect on the unemployment rate if the inflation rate rises and people expect the rise. Explain how your answer to part a about the unexpected rise in the inflation rate changes in...
What reference? Name: For each of the following events, use an AD-AS diagram to show the...
What reference?
Name: For each of the following events, use an AD-AS diagram to show the short-run and long-run effects on output and the price level (inflation rate); identify any output gap. Assume the economy starts in long run equilibrium. (1) The government reduces income taxes AS P AD (2) A decrease in consumer confidence leads to lower consumption spending AS P. AD AD-AS practice assignment.pdf 2/2 (3) The Fed decreases the money supply AS Pe K AD y* (4)...
Complete the questions below that are based on your chapter readings. Submit your answers in a...
Complete the questions below that are based on your chapter readings. Submit your answers in a Microsoft Word document (no PDFs) by 11:00 p.m. on Sunday of Unit 2 or as directed by your professor. 1. Suppose you are given the following data for a small economy: Number of unemployed workers: 1,000,000. Labor force: 10,000,000. Based on this data, answer the following: What is the unemployment rate? Can you determine whether the economy is operating at its full employment level?...
AP Macroeconomics Test Booklet Unit 3 Progress Check: FRQ Name 1. Include correctly labeled diagrams,...
AP Macroeconomics Test Booklet Unit 3 Progress Check: FRQ Name 1. Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. The economy of Country X is at full employment. (a) Draw a correctly labeled graph of the long-run aggregate supply, short-run aggregate...
1. An economy's unemployment rate is at 5%. A recession starts after there is a drop...
1. An economy's unemployment rate is at 5%. A recession starts after there is a drop in business investments, which leads to a 4% rise in unemployment. After many months, the unemployment rate goes by to 5%. What explains the drop in unemployment? a)Spending multiplier b)the money multiplier c)The natural rate hypothesis d)menu costs e)Permanent income hypothesis. 2. Suppose consumption expenditures in Japan can be modeled by the equation: C = ¥50 trillion + 0.8 Yd, where Yd is aggregate...
Question 1 1 pts If an economist needs to use a model that collectively reflects the...
Question 1 1 pts If an economist needs to use a model that collectively reflects the interconnections and the entire market supply and demand relationships, which model is the best to use? The general equilibrium model. The cyclical unemployment model. The AD-AS model During the winter of 2014/2015 oil prices dropped by a large percentage compared to the summer of 2014 By March 2015, what changed? There was a shift to the left in the aggregate demand curve. There was...
in output WHAT SHIFTS THE SHORT-RUN AGGREGATE SUPPLY CURVE? SRAS, SRAS, BRAS, 1. Determine whether each change listed in the table below will cause an increase, decreased or no change in Aggregate Supply (AS). Always start with SEASO. 2. IN column 1, list which component of AS is affected: input prices or productivity 3. IN column 2, draw an up arrow if the change will cause an increase in AS, a down arrow if it will cause a decrease in...
Macroeconomic Multiple Choice Questions
Answer All 10 Questions*
1) If the Central Bank of Kuwait puts in place an expansionary monetary policy, its decision is based on A) the fact that the economy is at full employment B) Expectation of excessive inflation in the future C) the fact that the economy is in an expansion D) Unemployment level is high 2) When the interest rate is set at a very low rate A) the opportunity cost of holding money is...
Complete the questions below that are based on your chapter readings. Submit your answers in a Microsoft Word document (no PDFs) by 11:00 p.m. on Sunday of Unit 4 or as directed by your professor. 1. In Goa, India, the multiplier effect of iron ore exports is calculated to be 1.62 (Ta, 2003) Calculate the impact of an additional 1,000 rupees of iron ore exports on the economy of Goa 2. Use the model of aggregate demand and short-run aggregate...
What reference?
Name: For each of the following events, use an AD-AS diagram to show the short-run and long-run effects on output and the price level (inflation rate); identify any output gap. Assume the economy starts in long run equilibrium. (1) The government reduces income taxes AS P AD (2) A decrease in consumer confidence leads to lower consumption spending AS P. AD AD-AS practice assignment.pdf 2/2 (3) The Fed decreases the money supply AS Pe K AD y* (4)...
Question 1 1 pts If an economist needs to use a model that collectively reflects the interconnections and the entire market supply and demand relationships, which model is the best to use? The general equilibrium model. The cyclical unemployment model. The AD-AS model During the winter of 2014/2015 oil prices dropped by a large percentage compared to the summer of 2014 By March 2015, what changed? There was a shift to the left in the aggregate demand curve. There was...
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