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- Explain 5Es of macroeconomics. Write about three linked models of macroeconomics.Describe scope of MacroeconomicsDiscuss the main contributions of 1 economist that influenced by John Maynard Keynes (Keynesianism, Post-Keynesianism, Neo/New-Keynesianism, New Classical) to economic thought. Why do you think his/her economic ideas are important, according to your own perspective?
- A) Distinguish between the short run and the long run as they relate to macroeconomics. Why is the distinction important? B) Use graphical analysis to show how each of the following would affect the economy first in the short run and then in the long run. Assume that the United States is initially operating at its full-employment level of output, that prices and wages are eventually flexible both upward and downward, and that there is no counteracting fiscal or monetary policy. i) Because of a war abroad, the oil supply to the United States is disrupted, sending oil prices rocketing upward. ii) Construction spending on new homes rises dramatically, greatly increasing total U.S. investment spending. iii) Economic recession occurs abroad, significantly reducing foreign purchases of U.S. exports.42)Which one of the following is TRUE? Select one: a. 1929 to 1933 was the Great Depression b. 1979 was the first oil shock c. December 2007 to June 2008 was the Great Recession d. 1994 to 2000 was a recession in the U.S. e. 2008 was a recession in the U.S. caused by Paul Volcker increasing the interest rateWhich of these economic problems is not associated with the study of macroeconomics? a. How to increase employment rate? b. How to influence aggregate demand through taxation? c. How to predict the demand for medicines? d. How to get out from economic recession?
- 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 read the question carefully. you dont need to answer the numbered questions, they are only topics that we learned so far in the course. Give an example of a concept learned in this course that you think may be associated with strong macroeconomic performance. the list below is what we learned so far. Explain why this is the case. Use real-world examples and explanations. lists of concepts we learned: Describe economics and the economic way of thinking. Identify the components of an economic theory. Define scarcity. Explain opportunity cost and the rationale for choice. Define a market and competitive markets. Describe demand and the concept of demand, individual demand and the demand curve. Explain a change in demand versus a change in quantity demanded. Define supply and the concept of supply. Describe a change in supply versus change in quantity supplied. Illustrate and explain and illustrate how markets reach equilibrium price and quantity.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.
- Discuss, one (1) macroeconomic policy measure used by policymakers during a periods of recession. (NB: state date(s), action(s), value, etc.)Give an example of a concept you think may be associated with strong macroeconomic performance. Explain why this is the case. Use real-world examples and explanations. concepts lists - economics and the economic way to thinking - economic theory - scarcity -opputunity cost - market and competitive markts -supply -how markets reach equilibrium price and quantityUse the conversation part to answer (B) part. ALEX: Hi, Becky. I’m intrigued to see how macroeconomics allows us to explain recent economic events such as the Great Recession that affected so many people. But there’s one thing I don’t understand. Was the collapse of the housing bubble the only cause of the recession, or were there other factors as well? BECKY: Hi, Alex. I agree that macroeconomic theory offers an entirely new perspective on how the economy works. To answer your question, the crash of the housing market was a major factor but not the only cause of the Great Recession. The professor mentioned that the __________ (options: financial, fiscal, government) system deteriorated as well, an event that deepened the economic downturn even further. ALEX: I see. So the bursting of the housing bubble caused the initial decline in aggregate demand. Then the financial crisis caused aggregate demand to decline even more. Could you also help me understand how to use the aggregate demand…
