A countercyclical variable is another term for an acyclical variable moves in the same direction as aggregate economic activity moves up during expansions and down during contractions all of the above none of the above
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- Suppose Mexico, one of our largest trading partners and purchaser of a large quantity of our exports, goes into a recession. Use the AD/AS model to determine the likely impact on our equilibrium GDP and price level.Name some factors that could cause the SRAS curve to shift, and say whether they would shift SRAS to the right or to the left.What is the economic reason why the SRAS curve slopes up?
- Many financial analysts and economists eagerly await the press releases for the reports on the home price index and consumer confidence index. What would be the effects of a negative report on both of these? What about a positive report?Use two diagrams to explain the effects of the determinants of aggregatedemand on real GDP in a nation. ii. Suppose there is an expectation of a rapid general price increase in goodsand services in Australia in January 2021. Examine the effects of theanticipated general rapid increase in price for goods and services.18 - : If aggregate demand increases in an economy while aggregate demand is constant in the short run, which of the following statements is correct for the new equilibrium point?A) price decreases and national income increasesB) price rises national income risesC) price increases and national income does not changeD) price goes up and national income goes downE) price decreases and national income decreases.19 - : In which of the following expressions is the equation of change given correctly?A) MV=VK B) MT=PV C) MV=PT D) MP=VY E) MV=P
- Use the Aggregate Supply and Aggregate Demand Model below to answer thequestions that follow Examine the influence of government expenditure on investment in a nation.Use Jot Inc. Ltd a multinational construction company in which you are theChief Exec of the firm that that is highly diversified and receives funds toconstruct highways and other government-funded projects. Also, explain thefactors that cause the Aggregate Demand curve to be downward sloping leftto rightAssume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on: aggregate demand, aggregate supply, price level, real GDP.(a) A decrease in government expenditure in infrastructure(b) A severe recession occurs in a country which has been a major importer of thenation’s exports.(c) The federal government increases business taxes with diagramFor an IS/LM model of an economy with the following equations: C = 200 + 0.8Yd I = 220 – 25i G with bar on top = 240 stack T R with bar on top = 150 T = .2Y L = .1Y – 3i fraction numerator M with bar on top over denominator P with bar on top end fraction = 125 The equations for the IS and LM (to two decimal places) are Y= 2168.4 – 69.5i and Y = 3i + 125 Y= 2168.4 – 69.5i and Y = 30i + 1250 Y= 2168.4 + 69.5i and Y = 30i – 1250 Y= 780 – 25i and Y = 30i + 1250.
- Consider an economy with the following features: Consumption, C = 130 + 0.5Yd Income tax, T = 20 + 0.2Y Investment, I = 200 – 600r Government expenditure, G = 112 Real money demand, Md/P = 50 + 0.5Y – 600r Nominal money supply, Ms = 600 Price level, P = 2 where Yd stands for disposable income, and r for the rate of interest. Derive the IS and LM equations. Calculate the equilibrium levels of income and rate of interest.Which equation represents the macroeconomic equilibrium condition in the aggregate expenditure (AE) model?Suppose the economy is self-regulating, the price level is 132, the quantity demanded of RealGDP is 4 trillion, the quantity supplied of Real GDP in the short run is 3.9 trillion, and thequantity supplied of Real GDP in the long run is 4.3 trillion. Is the economy in short-runequilibrium? Will the price level in long-run equilibrium be greater than, less than, or equal to132? Show the relevant graph and explain your answers.