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macroeconomics homework answers

Get homework answers from experts in Macroeconomics. Submit your question, choose a relevant category and get a detailed answer for free. Macroeconomics Questions and Answers. Get help with your Macroeconomics homework. Access the answers to hundreds of Macroeconomics questions that are explained in a way that's easy for you to. May 31,  · I figured out some of the questions but I need help with the remaining ones. Thanks so much! Suppose the economy is currently suffering from a recessionary gap and the Federal Reserve uses an expansionary monetary policy to close that gap. Describe the short-run effect of this policy on the following. c. The money supply curve. g. The equilibrium interest Open.

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The rate of growth was higher during the decade beginning in than during the previous two decades, macroeconomics homework answers, but it is probably unrealistic to expect productivity to continue to grow at such a fast pace.

There are problems with the statistics, but the consensus is that growth in China has been high. More flexible labor market institutions may lead to lower unemployment, but there are questions about how precisely to restructure macroeconomics homework answers institutions.

The United Kingdom has restructured its labor market institutions to resemble more closely U. On the other hand, Denmark and the Netherlands have relatively low unemployment rates while maintaining relatively generous social insurance programs macroeconomics homework answers workers. In addition, some economists argue that tight monetary policy has at least something to do with the high unemployment rates in Europe. Although the Euro will remove obstacles to free trade between European countries, each country will be forced to give up its own monetary policy.

Dig Deeper 3. The Macroeconomics homework answers government has encouraged foreign firms to produce in China. Since foreign firms are typically more productive than Chinese firms, the presence of foreign firms has lead to an increase in Chinese productivity. The Chinese government has also encouraged joint ventures between foreign and Chinese firms. These joint ventures allow Chinese firms to learn from more productive foreign firms. The recent increase in U.

The United States is a technological leader. Much of U. China is involved in technological catch-up, macroeconomics homework answers. Much of Chinese productivity growth is related to adopting existing technologies developed abroad.

High investment seems a good strategy for countries with little capital, and encouraging foreign firms to produce and participate in joint ventures at home seems a good strategy for countries trying to improve productivity.

Publishing as Prentice Hall. Take output per worker as a measure of the standard of living. Labor productivity growth fluctuates a lot from year to year.

The last few years may represent good luck. It is too soon to tell whether there has been a change in the trend observed since At current growth rates, Chinese output will exceed U. Explore Further 6. As of Februarymacroeconomics homework answers, there had been 5 recessions according to the traditional definition since Seasonally-adjusted annual percentage growth rates of GDP in chained dollars are given below.

Real GDP per person increased by a factor of 4, macroeconomics homework answers. The level of the CPI means nothing. The rate of change of the CPI is one measure of inflation. Which index is better depends on what we are trying to measure—inflation faced by consumers or by the economy as a whole. The underground economy is large, but by far the majority of the measured unemployed in Spain are not employed in the underground economy.

No change. This transaction is a purchase of intermediate goods. The jet was already counted when it was produced, i.

Real GDP has increased by The answers measure real GDP growth in different units. Neither answer is incorrect, just as measurement in inches is not more or less correct than measurement in centimeters.

Analogous to 4d, macroeconomics homework answers. Yes, see appendix for further discussion. Dig Deeper 7. The quality of a routine checkup improves over time. Checkups now may include EKGs, for example. Medical services are particularly affected by this problem since there are continual improvements in medical technology.

You need to know the relative value of pregnancy checkups with and without ultra- sounds in the year the new method is introduced. Strictly, this involves mixing the final goods and income approaches to GDP. If you choose to work, the economy produces the value of your work plus a takeout meal.

If you choose not to work, presumably the economy produces a home-cooked meal. The extra output arising from your choice to work is the value of your work plus any difference in value between takeout and home-cooked meals. In fact, however, the value of home-cooked meals is not counted macroeconomics homework answers GDP.

Of course, there are other details. For example, the value of groceries used to produce home-cooked meals would be counted in GDP. Putting such details aside, however, the basic point is clear. Explore Further 9. The unemployment rate increased afterpeaked inand then began to fall. The participation rate fell steadily over the period—from Presumably, workers unable to find jobs became discouraged and left the labor force, macroeconomics homework answers.

Employment growth slowed after Employment actually fell in The employment-to-population ratio fell between and It several years after the recession for the labor market to recover. The propensity to consume must be less than one for our model to make sense. The increase in output is one times the multiplier.

Equilibrium output is Total demand equals production. We used this equilibrium condition to solve for output. So, equilibrium output is now Again, total demand equals production. National saving or in short, saving equals private plus public saving, or National saving equals investment. This macroeconomics homework answers is mathematically equivalent to the equilibrium condition, total demand equals production.

In other words, macroeconomics homework answers, there is an alternative and equivalent equilibrium condition: macroeconomics homework answers saving equals investment. Dig Deeper 4. The answers differ because spending affects demand directly, macroeconomics homework answers, but taxes affect demand indirectly through consumption, and the propensity to consume is less than one. Balanced budget changes in G and T are not macroeconomically neutral. The propensity to consume has no effect because the balanced budget tax increase aborts the multiplier process.

Y and T both increase by one unit, so disposable income, and hence consumption, do not change. After a positive change in autonomous spending, the increase in total taxes because of the increase in income tends to lessen the increase in output. After a negative change in autonomous spending, the fall in total taxes tends to lessen the decrease in output.

Because of the automatic effect of taxes on the economy, the economy responds less to changes in autonomous spending than in the case where taxes are independent of income. Since output tends to vary less to be more stablefiscal policy is called an automatic stabilizer. Both Y and T decrease. If G is cut, Y decreases even more. A balanced budget requirement amplifies the effect of the decline in c0. Therefore, such a requirement is destabilizing.

In the diagram representing goods market equilibrium, the ZZ line shifts up. Output increases. There is no effect on the diagram or on output. The ZZ line shifts up and output macroeconomics homework answers. The propensity to consume is likely to be higher for low-income taxpayers. Therefore, tax cuts will be more effective at stimulating output if they are directed toward low- income taxpayers.

Including the b1Y term in the investment equation increases the multiplier. Increases in autonomous spending now create a multiplier effect through two channels: consumption and investment. Output macroeconomics homework answers by b0 times the multiplier.

Investment increases by the change in b0 plus b1 times the change in output, macroeconomics homework answers.


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macroeconomics homework answers


Macroeconomics Homework Help Why us for macroeconomics homework help and Macroeconomics Assignment Help? Looking for Macroeconomics homework help or Macroeconomics assignment help, you are at right place. Macroeconomics is the major part of economics/5(15). Macroeconomics Questions and Answers. Get help with your Macroeconomics homework. Access the answers to hundreds of Macroeconomics questions that are explained in a way that's easy for you to. Get homework answers from experts in Macroeconomics. Submit your question, choose a relevant category and get a detailed answer for free.