Question if you would like??

SoccerBoss
Category:
Economics
Price: $20 USD

Question description

Book.docx

1. Compare and contrast the three types of unemployment that are covered within attachment.  If you were a policy maker which type of unemployment would be most bothersome to you?

Types of Unemployment.docx

2.  What costs are associated with inflation?  Explain at least 3 different costs that individuals or businesses experience when inflation rises.

3. Explain why transfer payments are not included in GDP. 

Book.docx

4. Using the components of GDP covered in section 22.1 of your text, explain which component would be affected by the following (only one component should be chosen for each scenario):

  a.  You buy an Italian purse.

  b.  You buy a new house.

  c.  New lanes are added to Interstate 40.

  d.  You buy groceries.

  e.  You buy a new washer and dryer

Book.docx

5. Suppose the economy is at a macroeconomic equilibrium as is shown on Slide 40 of the Attend section.  The government decides to give every taxpayer a $500 tax refund. 


a.  What happens to the aggregate demand curve after the refund?

b.  What happens to the price level after this change?

c.  Is real wealth increased or decreased as a result of the refund?

Slide 40.docx

6. Compare and contrast the results of the Classical Model and the Keynesian model after an expansionary policy.  Keep in mind that the economy is in a recession and not at full employment.  Address the following:


a.  The shape of the aggregate supply curve in each model in both the long-run and short-run.

b.  The effect of an expansionary policy on aggregate demand in both the long-run and short-run.

c.  The effect of an expansionary policy on the price level in both the long-run and short-run.

Book 2.docx




Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1821 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors