Suppose the federal government attempts to combat a recession by purchasing a new fleet of warships for the navy produced by a US manufacturer. What type of economic policy is the government conducting?
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- Many economic policies fail because Measurement difficulties prevent policymakers from correctly identifying what is happening in the economy. Forecasts are usually inaccurate. There are time lags in response to policies. Political objectives often conflict with good economic policies. All of the answers are correct.There are five mainstream schools of economic thinking on issues There are five mainstream schools of economic thinking on issues relating to what government can or cannot do with respect to stabilizing the economy. What are these schools and how do they differ on issues concerning unemployment and inflation? There are five mainstream schools of economic thinking on issuesAlthough markets could resolve economic downturns, one of John Maynard Keynes’ central points was that ... Group of answer choices a. Market solutions only worked when governments lowered taxes b. Market solutions would take too long c. Market solutions only worked when governments raised taxes d. Markets would always benefit only those who owned capital
- which of the following is true about supply-side economic policies a) tax cuts tend to almost always raise government revenue b) infrastructure spending proposals almost always shift aggregate supply to the right c) aggressive affirmative action programs decrease race and gender discrimination d) production and savings give rise to real economic growthClassify the following as microeconomics or macroeconomics and provide a justification for your response. A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth The decision by McDonald’s to hire fewer workers because of an increase in the minimum wage. Susan’s decision about how much income to save The central bank announces that it is increasing the discount rate in an effort to slow the rate of inflation. Question 2 A snowboard company currently hires 10 skilled employees who are paid a weekly wage of $1,000.00. the cost of capital is $3000 and it is fixed, which means that it does not vary with output. The company is currently producing 240 snowboards. The company’s cost will be $13,500 if it produces an additional snowboard. A customer is willing to pay $550 for the 241st snowboard. Should the company produce and sell it? Timothy quits his job which pays $84000 a year, to enrol in a 2-year…Global warming has a negative impact on the entire world, but policymakers hesitate to make changes due to the possible effect on the economy. How could new energy policies impact the economy? All global warming policies will be equally funded by all countries. New energy policies can be very costly, and these costs would be passed onto people and businesses. New energy policies would secure all jobs in the energy market. New energy policies are inexpensive and can be implemented easily.
- Suppose that the government believes the economy is not producing goods and services at its optimal level. In an attempt to stimulate the economy, the government increases the quantity of money in the economy by printing more money. This monetary policy the economy's demand for goods and services, leading to product prices. In the short run, the change in prices induces firms to produce goods and services. This, in turn, leads to a level of unemployment. In other words, the economy faces a trade-off between inflation and unemployment: Higher inflation leads to unemployment.Compare both the classical and modern theory of the economic activities of the stateThe economies of many nations around the globe have been brought on their knees by COVID-19. Just when countries are on the path of recovery from the economic devastation caused by COVID-19, Russia invaded Ukraine which had worsened the economic outlook of the entire world. The nation Ghana as well as firms have not escaped the impact of the terrible events in Ukraine. Rising expenditure, dwindling revenue levels, increasing debt levels coupled with worsening macroeconomic indicators had led to the downgrading of the Ghanaian economy which has affected the ability of the country to go for external debt. In order, to deal with current challenges, the government in a process characterised by controversies passed the Electronic Transfer Levy Act 2022 popularly called E-levy. As the Finance Director of your company, you have been tasked to present a proposal to the Board of Directors on how your company will navigate the turbulent terrain of the Ghanaian economy. Your proposal must address…
- How severe was the great recession? What pieces of economic data would you cite to support the answer?At which point would the government be most likely to try to stimulate the economyWhich economic policy, fiscal policy or monetary policy, is preferable for recessions (excess capacity) and why? Support your arguments by explaining the arguments on the role of government on the economy.
