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- Explain whst is meant by the term economic problem( gas prises are rising because ther aren't enough oil refineries) ( gas prices are rising becuae of the growing demand for gasoline from india) Are they normative or positive statment?Hello: 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?
- The United States exports14%ofGDP while Germany exports about 50% of it sGDP.Explain wha ttha tmeans.Based on your understanding, explain the importance of fiinance on the national and global economy.Saudi Arabia is an oil exporting country. AD : Y = 710 − 30P + 5G+3Poil， AS : Y = 10 + 5P − 2Poil Y is real GDP, P is the price level, G is the government purchases, and Poil is the world price of oil. (a)Firstly, Write down the equilibrium condition. Then, what is the equilibrium value of real GDP and the price level(assume G and Poil as known variables) (b)Draw the AD/AS graph to show when Poil rises in the world market, what will happen the AD and SAS curves. (c)Explain the price level effect and the output effect due to the change of the oil price.
- 6) Suppose, India was in general equilibrium before COVID-19. Due to the lockdown, production decreased massively. Assuming that other things remained unchanged, how can you show the effect in the general equilibrium? Also suggest some policy to tackle the new situation using IS-LM-FE model.Hi, can I please get help with the picture in the attachements its true and false. I’m not so good at reading and comprehension and understanding the meaning. Here’s the link 2 incase: https://sites.google.com/a/macmillan.com/news-analysis/japan-recession-europe-stagnation-cast-pall-over-global-economic-outlookCan you think of ways that globalization has helped you economically? Can you think of ways that it has not?
- Who in an economy is the big winner from inflation?a. Explain how competitive advantage play a role as one of the globalization driver ?Suppose the economy of the hypothetical country “X” is currently in equilibrium at point A on thegraph. There were two major shocks to the economy in 2020.First shock was related to oil prices; the other was related to consumer confidence about futurebusiness conditions. Oil Shock: The economy X faced a rise in the average price of oil along with the rise of world price ofoil.E) Would an increase in oil prices cause a demand shock or a supply shock? Redraw the diagram toillustrate the effect of this shock by shifting the appropriate curve. What happens to theAggregate output and price level after the shock? (3)F) If policymakers wish to prevent the equilibrium output from changing in response to the oilprice increase, should they use contractionary or expansionary fiscal policy? (Redraw the graphfrom part E and show the change) (4)G) Even if the economy moves back to original Aggregate output, will there be any drawback? (1)Consumer Confidence Index: The Consumer Confidence Index…