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compare fiscal and
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- Use the AD/AS framework to explain the impact of stabilization policy to correct for a negative output gap in the short-run.Can you explain policy lags briefly and compare fiscal and monetarypolicies with respect to inside and outside lags. thanks.Using the AD/AS model construct two graphs that show how a recession can occur? Explain how discretionary fiscal or monetary policies can be used to moved the economy out of recession?
- Apply the simple Keynesian model to discuss how feedback loops may affect the response of national output to aggregate demand shocks.The Recognition Lag a)Is significant for both fiscal and monetary policy b) Is significant for fisca policy, but not so for monetary policy c)Is significant for monetary policy but not for fiscal policy d)Is insignificant for both fiscal and monetary policyUse the IS/MP framework to explain the impact of stabilization policy to correct for a negative output in the short-run.
- Using IS-LM analysis, describe the likely effects of a tightening of both monetary policy and fiscal policy on the level of real output.Define the following: -Inside lag -Outside lag Which has the longer lag-monetary or fiscal policy? Which has the longer outside lag? Give reasons for your answer?Fiscal policy can take much longer to act than monetary policy given there are lags that can occur in the process. The time that it takes to determine whether or not a recession has occurred is referred to as the a. recognition lag. b. legislative lag. c. implementation lag. d. structural lag.
- Using IS-LM analysis, describe the likely effects of a tightening of both monetary policy and fiscal policyExplain the difference between fiscal policy and monetary policy. What are some of the reasons these macroeconomic policies are used? Elaborate on reasons these policies are used.what is the impact of a contractionary policy on the U.S. economy from a new keynesian point of view? Show the impact using a graph.
