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- Explain the concept of excess demand in macroeconomics. Also, explain the role of open market operation in correcting it. (Kinly explain with diagram)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.Need help with macroeconomic review question! 4. Consider the following statement.“From January 2020 to September 2021, there were almost 28,000 deaths inCanada attributed to COVID-19. This is an unprecedented death toll.” What statistical (inductive) fallacy does this statement commit? (A) Correlation implies causation.(B) Biased sample.(C) Berkson’s Paradox.(D) Base Rate Fallacy. 5. Suppose that food shortages are expected in the near future. What happens to the market for farmland today?(A) Demand rises.(B) Demand declines.(C) Supply rises.(D) Supply declines. 6. Everyone with GME stock sells it at the same time. What does this do to the priceof GME stock?(A) It goes up.(B) It goes down.(C) It stays the same.(D) Diamond hands.
- this question is for Macroeconomics but it didn't show any option for Macroeconomics it just show economics. Use the table below to answer the following question. Table 21.3.2 Data from Southton Price (dollars) Price (dollars) Quantity (number) Quantity (number) Item Base Current Base Current Rubber Ducks Beach Towels 1.15 9.10 1.36 10.00 90 15 100 14 1) Refer to Table 21.3.2. From the data in Table 21.3.2. What is Southton's consumer price index for the current year? What is the rate of inflation over the current year? Show your calculations.Please give a detailed solution with an explanation. Please double-check your sources and make sure the answer is 100% correct. Make sure ALL questions are answered too.Blank Answer #1:value of all goods and services produced in the economy in the base yearcost of a given market basket of goods and servicesvalue of all goods and services produced in the economy this yearBlank Answer #2:this year's pricesthe base year's pricesBlank Answer #3:value of all goods and services produced in the economy in the base yearcost of a given market basket of goods and servicesvalue of all goods and services produced in the economy this yearBlank Answer #4:this year's pricesthe base year's pricesBlank Answer #5:produced domesticallybought by consumersPart (a):Suppose that the demand for the Dates and supply of the Dates in Ramadan both are declined byequal amount over some period of time. What you can conclude with this information? Explainand graphically show the effect on equilibrium price and equilibrium quantity.Part (b):Why is money not considered to be a capital resource in economics and why is entrepreneurialability considered to be a part of economic resource, distinct from labor? Please suggest two mostimportant function of entrepreneurs, you think is must?
- Which of the following questions are macroeconomic questions? A. What factors determine the price of milk? B. What determines the wage of auto workers? C. What determines the inflation rate? D. None of the above are macroeconomic questionsExplain the working of price mechanism in different economicUsing the model of business fluctuations, show the effect of the COVID-19. Recall that COVID-19 shut down production in a series of important U.S. industries and caused considerable job losses. Fear of the virus caused Americans to travel less, buy fewer personal services, and consume fewer restaurant meals. (b) The Fed responded to the economic effects of COVID-19 by cutting interest rates while Congress passed a large relief package (i.e., an increase in government spending). Show each of these effects on a separate diagram.
- Please I need a short summary for this video: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/national-income-and-price-determinations/long-run-self-adjustment-ap/v/long-run-self-adjustment-ap-macroeconomics-khan-academya. What is the theorized relationship between the unemployment rate and the minimum wage in the static model of the labour market? b. How should the unemployment rate respond to a constant minimum wage in the static model of the labour market?Explain 5Es of macroeconomics. Write about three linked models of macroeconomics.
