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- a. Define “time inconsistency” of economic policy? b. i) Examine why policy makers might be tempted to renege on an announcement they madeearlier? ii) In this situation, what is the advantage of a policyrule?What is the role of a macroeconomist? - balancing control over unemployment and inflation -issues faced -tools to achieve macroeconomic goalsLinear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model How do the contemporary models differ from the previous models? Coordination failures ComplementarityWhy do these models emphasize multiple equilibria and what does it mean?What problems may prevent economy from moving from a bad equilibrium to a stable one?Need to understand that graphWhat are the big push and O-ring theories (important to have a broad or general understanding ofthe two theories?)
- The long run macroeconomic performance of an economy can be reflectedfrom the changes of her major macroeconomic indicators. With appropriateinterpretations of the changes to these indicators, one can identify the inherentstructural features of an economy, and hence, identify her strengths andweaknesses. In about 250 words, write a short essay on ONE economy from the list below:i. Singapore;ii. The United Kingdom;iii. The United States.In your essay, describe the changes of major macroeconomic indicators fromthe last decade. Using them to illustrate major structural features of the choseneconomy. Based on the above, identify ONE inherent problem implied bythese structural features that might limit her macroeconomic performance inthe long run. Suggest ONE practical government policy in dealing with thisinherent problem.Give free rice and electricity to poor families monthly Potential impact on the economy as objectively as you can. Arguments why this policy is good, why this policy is bad.15. Which of the following makes expansionary Keynesian policy unavailable? a) Crowding out effect b) Inflation c) transactions demand for money d) sovereign debt crisis e) All the above
- Question1.A.write the short nots under each statement: 2. Most national government economic are facing to many issues in macroeconomic prospective: objectives: …………………………………………………………………………………………………………………………………………………………………………………………………… 3. The main differences between withdrawals and injection in macroeconomics are: ……………………………………………………………………………………………………………Which one of the following statements is INCORRECT? A Keynesian economists believe that the business cycle is caused by external factors, such as governmentinterference in the economy.B Classical economists believe that market economies are inherently stable and fluctuations are ascribed toexogenous factors.C Classical economists believe that government should not intervene in the economy to try to smooth out thebusiness cycle.D Structuralist economists believe that the market system is neither inherently stable norsystematically unstable . Consider the case of two countries, Afghanistan and the US, both producing carpets and fighter aircraft.The table below shows output rates per day in the two countries if all resources are fully and efficientlyemployed. Use this information to answer the question.Carpets Fighter aircraftAfghanistan 100 4US 500 25An appropriate international exchange ratio that would allow mutually advantageous trade to takeplace would be: A 1 aircraft = 25 carpets.B…Before the COVID-19 pandemic, we had both very low unemployment and inflation. Then unemployment rose. In the future, unemployment and inflation could change and it’s good to have policy plans in place before either of these problems gets too bad. Imagine that you oversee macroeconomic policy. Start your discussion by responding to these questions and explaining your answers: What are some of the problems, difficulties, or hardships caused by unemployment? What are some of the problems, difficulties, or hardships caused by inflation? If you had to make a choice today between a policy that would head off increases in inflation or increases in unemployment, which one would you choose? Be sure to respond to at least one of your classmates' posts and share your opinion about their decision.
- Why is macroeconomics important? a. it helps in determining appropriate fiscal and monetary policies b. it gives a picture of the economic problems of the country c. All of these options are correct d. it provides answer to address national economic problemsHello: Which of the following best describes a microeconomic question? (A) What is the value of US dollar in terms of other foreign currencies? (B) Should a particular firm enter a market? (C) Is the company of Japan in a recession? (D) What is the value of the goods and services that the United States produces every year? (E) What is the aggregate price level in an economy?Please please answer this asap... What effects do you think monetary policy and fiscal policy has on the day-to-day operations of a business? Should a business owner be concerned with these kinds of macroeconomic issues? If so, why?