If your economy is off the internal and external balance as point 2, you want to reach the internal and external balance of point 1 in the following graph. How you can achieve this goal in the fixed exchange rate regime? Exchange rate, E
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- What are the factors affecting the internal and external balance of the economy of a country? Why do countries try and achieve this internal and external balance?What are the determinants of the trade balance? Briefly explain each determinant.What do the terms internal balance and external balance mean in open-economy macroeconomics?
- Consider two neighboring island countries called Felicidad and Bellissima. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor. Jeans Corn Country (Pairs per hour of labor) (Bushels per hour of labor) Felicidad 4 16 Bellissima 12 Initially, suppose Bellissima uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Felicidad uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Felicidad produces 12 million pairs of jeans and 16 million bushels of corn, and Bellissima produces 6 million pairs of jeans and 36 million bushels of corn. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of jeans and corn it…Why does the United States not have an absolute in coffee? Which country is leading in producing coffee for the United States?assess how an increase in import prices and an increase in export prices will affect th sa economy.
- Use the model of small open economy to predict what would happen to the trade balance,and the real exchange rate in response to each of the following events. Use a graph to illustrateyour answer and explain the graph. Please label the graph completely, including indicating allcurves in the graph and label the axes.a) A fall in consumer confidence about the future induces consumers to spend less and savemore.b) A tax reform increases the incentive for business to build new factoriesAs a result of the trade war, the US increases its trade barriers. a. How would only this development affect the IS curve? b. Now assume that other countries respond by increasing their trade barriers. Explain how would these developments affect the IS curve?2. As a result of the trade war, the US increases its trade barriers. a. How would only this development affect the IS curve? b. Now assume that other countries response by increasing their trade barriers. Explain how would these developments affect the IS curve?
- 3. What are some differences between the gift economy and the exchange economy?Explain briefly whether each of the following would be more likely to lead to a higher level of trade for an economy, or a greater imbalance of trade for an economy. Living In an especially large country Having a domestic investment rate much higher than the domestic savings rate Having many other large economies geographically nearby Having an especially large budget deficit Having countries with a tradition of strong protectionist legislation shutting out importsAssume in a given month, Japan's export to the U.S. increased. How such an increase will affect the Japanese Yen? From a U.S. perspective, how this increase will affect the U.S. dollar? Knowing that both currencies can float, verbally explain your answers using the demand/supply model (no need to draw a graph). Edit View Insert Format Tools Table 12pt Paragraph BI T² V :