In the event of strong economic growth in China which relationship/s will be affected? Short Run Aggregate Supply Investment Demand Long Run Aggregate Supply Aggregate Demand Regarding the question above, describe short run result of the change? Price level increases and real gross domestic product increases. Price level decreases and real gross domestic product decreases. O Price level decreases and real gross domestic product increases. Price level increases and real gross domestic product decreases.
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- A real value will increase only when prices increase. Select one: True False If the real value for manufacturing sales increases then the nominal value must also have increased. Select one: True False If nominal GDP is rising faster than real GDP then prices must be rising. Select one: True FalsePease note quesition 1 is answered it is only attached for you to see it as it contains relevant informaition. Please answer quesition 2! Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What is New Zombie’s real GDP? If work hours increase to 210 in year 2 and productivity rises to $10 per hour, what is New Zombie’s rate of economic growth? Explain why sustained long-term economic growth comes from increases in labor productivity. Why do you think the trend rate of U.S. productivity growth has increased since the earlier 1973–1995 period? The GDP of year 1 is $1,600. The GDP of year two is $2,100. The rate of economic growth is 31.25% Monetary development must be supported just when endogenous elements experience an expansion in their efficiency. Work efficiency is dictated by the gathering of human capital in an economy. The more prominent the interest in human capital arrangement, the higher is the information arrangement and…COVID-19 all around the world has restricted the economic activity. To stop the spread of the virus Pakistan like many other countries adopted the policy of smart lockdown. Shutting down of the industry has created adverse supply shock in the economy. While, the slowdown in business and economic activities the country is in the recessionary phase of the business cycle as the GDP growth for the FY 2020-21 is expected to be -0.2 accompanied by high unemployment and poverty rate.QUESTIONReflecting on the above situation, justify whether the Government of country A should opt for expansionary or contractionary fiscal policy as a stabilization policy. Also illustrate it graphically. (150words)
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- This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Question 4. Given the economic conditions described above, recommend the appropriate monetary policy that the Reserve Bank of Australia (RBA) should implement.Clearly explain why this type of monetary policy is needed. Question 5. Describe in details the steps the RBA must undertake to…This case study focuses on the Australian economy in 2019, before the COVID-19 pandemic hit. On 4th September 2019, the Australian Bureau of Statistics (ABS) published Real GDP data for the quarter ending June, 2019. (The reporting of GDP always lags by about 2 months as it takes time to collect and compile data). The data showed that the Australian economy recorded a quarterly growth of 0.5%. However, there was a decrease in Real GDP per capita. Furthermore, Real GDP per capita in June 2019 was lower than it was a year before (June 2018). Overall, while Real GDP still increased, the growth was very weak; the weakest on record since March 2001. (Source: Australian Financial Review and The Guardian). Required: Question 1. Clearly explain what Real GDP per capita means.Clearly explain why Real GDP per capita decreased whereas there was still growth in Real GDP for the quarter ending June 2019. Question 2. Given the economic conditions described above, predict how the following key…QUESTION 2 1.1) Suppose that consumption grows continuously. How many years will it take for consumption to increase by 75% if the growth rate were 4.25% p.a.? Number of years for consumption to increase by 75% =