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1. What are so-called heterodox adjustment programs? Are they a sound long-term approach?
2. Use the IS/LM/BP graph to illustrate the effects of a revaluation. Show the fiscal and
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- 1) Plot the following markets on a graph: Government market: using 50 jets for Q and $5 billion for P as point A (equilibrium). AD/AS graph: using 19.1 trillion for RGDP and 1.9% for inflation as point A (equilibrium). How will our AD/AS graph look like when U.S. government buys less jets in the government market? 2) Plot the following markets on a graph: Labor market: using 5 laborers and $5.00 for wage as point A (equilibrium). AD/AS graph: using 19.1 trillion for RGDP and 1.9% for inflation as point A (equilibrium). How will our AD/AS graph look like when Congress implements an income tax hike in the labor market?Monetary and fiscal policy play important roles in economic stimulation and or stabilization in what way and explain,As you have learned in Unit 8 (this week), monetary and fiscal policy play important roles in economic stimulation and or stabilization. In this regard: a. When is it appropriate to use monetary and fiscal policy to stimulate or stabilize the economy? b. When is it inappropriate to use monetary and fiscal policy to stimulate or stabilize the economy? c. What specific fiscal policy tools would you use to stimulate aggregate demand and how? d. What specific monetary policy tools would you use to stimulate aggregate demand and how? e. What is your conclusion, should policymakers use the monetary and or fiscal policy to stimulate aggregate demand? Explain briefly.
- Why does the “quality/new goods bias” arise if we calculate the inflation rate based on a fixed basket of goods?Using the Equation of Exchange, argue how increasing government spending can help the economy/aggregate demand.With COVID-19, many economies suffered from severe recession. To save their economies, a mix of monetary and fiscal policies was used in 2020. Explain how monetary policy and fiscal policy could be used to stimulate an economy under a recession. State their limitations under the COVID-19.
- Please use the AD-AS model to analyze the effects of monetary policy and fiscal policy on economic outcome in an open economy: a. Please show graphically the shifting of the AD curve after the Fed conducts an expansionary monetary policy in a closed economy (A closed economy means there is no international trade.). How do the price level and the real GDP change? b. Suppose the economy becomes an open economy. Please revise the result that you get in part (a). Please explain how you get the new result using the AD-AS model. c. Please show graphically the shifting of the AD curve after the federal government conducts an expansionary fiscal policy in a closed economy. Please show the crowding-out effect. How do the price level and the real GDP change? d. Suppose the economy becomes an open economy. Please revise the result that you get in part (c). Please explain how you get the new result based on the AD-AS model.Scenario FROQ In 2019 the federal government decreased interest rates for banks three times. Shortly after, POTUS tweeted the following Would be so00 great if the FED would further lower interest rates and quantitative ease. The Dollar is very strong against other currencies and there is almost no inflation. This is the time to do it. Exports would zoom! December 17, 2019 A. Define the type of economic policy inferred by scenario and describe how it impacts the economy. B. Describe why POTUS has no power to control the implied power inferred to by the scenario above. C. Describe how a change in political party leadership could effect the outlined scenario above.Assume the economy has entered a recession. Identify two fiscal and two monetary policy actions that could be used to alleviate the recession and explain how each policy would improve the economy.
- 1. Differentiate policy action from policy result.ent40.docx Name: Problem #6: Economist As an economist for the Canadian government, you need to ensure that our dollar is strong enough to continue buying what we need. After gathering your information, you start doing your work. The Canadian dollar loses approximately 2.3% of its buying power each year due to inflation. Inflation refers to the decline of purchasing power for a given currency over time. a) If the inflation rate of 2.3% continues each year, what will be the buying power of today's Canadian dollar five years from now? Format your answer in dollars! b) The government decides to use this model to forecast what their dollar will be worth over the next 15 years. Is this model effective? Are there any limitations or issues with doing this?Some economists argue that policymakers can use monetary and fiscal policy to reduce the severity of economic fluctuations. In practice, however, there are obstacles to the use of such policies. What are the primary difficulties with using monetary and fiscal policy to stabilize the economy?