The Kuznet's hypothesis has played an important role in shaping policy. (b) The Kuznet's hypothesis has often led policy makers to focus exclusively on economic growth. Drawing upon empirical evidence discuss the validity of such policy.
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The Kuznet's hypothesis has played an important role in shaping policy.
(b) The Kuznet's hypothesis has often led policy makers to focus
exclusively on economic growth. Drawing upon empirical evidence
discuss the validity of such policy.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0aa778ed-f124-4220-858b-6e3fee5e0b77%2Fcd4f9edd-bd7e-4ab9-9159-4b6d4b3627bd%2Fcqm99pc_processed.jpeg&w=3840&q=75)
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- Why governments / decision makers try to achieve the stable economic growth and lower inflation? What are key problems which may be encountered when attempting to balance these two objectives? Evaluate the macroeconomic measures, employing fiscal and/or monetary policies, which could be taken to balance these two objectives.Explain what will happen in a nation that tries to solve a structural unemployment problem using expansionary monetary and fiscal policy. Draw one AD/AS diagram, based on the Keynesian model, for what the nation hopes will happen. Then draw a second AD/AS diagram, based on the neoclassical model, for what is more likely to happen.How did the Keynesian perspective address the economic market failure of the Great Depression?
- Which question is an example of a microeconomic question? A. What should the Federal government do to reduce the trade deficit with Japan?B. Will the merger of two airlines likely lead to higher cost of air travel in the economy?C. What factors are contributing to the steep rise in the federal government's total debt?D. Will the inflation rate remain relatively stable this year?Give free rice and electricity to poor families monthly Potential impact on the economy as objectively as you can. Arguments why this policy is good, why this policy is bad.With reference to the business cycle, explain how economic recovery (and the resulting "boom") will eventually lead to recession and "bust". (If you prefer, you can instead explain how recession/bust leads to recovery/boom.)
- 5 Linear stages theory, Structural-change model (Lewis two-sector model), International dependence/dominance model, Neoclassical model How do the contemporary models differ from the previous models? Coordination failures Complementarity Why do these models emphasize multiple equilibria and what does it mean? What problems may prevent economy from moving from a bad equilibrium to a stable one? Need to understand that graph What are the big push and O-ring theories (important to have a broad or general understanding of the two theories?)QUESTION 6 Which situation would most likely cause a nation's possiblitiy curve to shift inward? A. Investing more resources in new plants and equipment. B. Eliminating discrimination based on race and ethnic background. C. Increasing international trade or incurring a trade deficit. D. Going to war with another nation and suffering a major defeat.16. If asked about the basic functioning of the economy, a classical economist would claim that a. inflation and unemployment reinforce each other. b. the market naturally tends toward stability and full employment. c. sound institutions are vital for economic growth. d. the government plays a vital role in keeping the economy healthy. e. the short run is more significant than the long run.
- 45. Why is macroeconomics important? a. it helps in determining appropriate fiscal and monetary policies b. it gives a picture of the economic problems of the country c. it provides answer to address national economic problems d. All of these options are correct1. ‘China’s economic transformation since the late 1970s has been a process of neoliberalization, and, as such, it has resulted in growth without development.’ Discuss and give arguments coherently.41) Which of the following is a tool for achieving macroeconomic objectives? A) Fiscal policy B) Monetary policy C) Incomes policy D) All of the above 42) Macroeconomics is useful: A) only to governments B) only to business firms seeking to maximize their profits C) only to households seeking employment D) to all economic decision-making units 43) Consider a circular flow model with households, firms, and government. Which of the following is true? A) Households sell labour services and other resources to firms B) Households purchase resources from firms and convert them into goods and services C) The government does not purchase anything from households D) Households receive income from firms but not from the government 44) Payments such as employment insurance and welfare are called: A) employment income B) transfer payments C) compensation income D) business income 45) When households purchase government bonds, they: A) lend to the…