What would be the effect of a hurricane that damages buildings and roadways in the Gulf Coast? LRAS ["", "", ""] . AD ["", "", ""] . The price level ["", "", ""] . GDP ["", "", ""] . Hint: Do not make assumptions of how anyone will behave.
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What would be the effect of a hurricane that damages buildings and roadways in the Gulf Coast? LRAS ["", "", ""] . AD ["", "", ""] . The
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- What happens when firms and workers underestimate future prices in the economy? Explain the answer while focusing on what would happen to actual output as opposed to the expected potential output.Explain the dynamic effect by taking "Oil Prices and Inflation" as an example?Is it possible for there to be inflation present in the economy and still witness a decline in a large number of goods? If so, how and why is this possible?
- In 2019 the Dutch Parliament decided they were going to arbitrarily close 50% of their livestock farms. Soon after this, the Canadian Government was rumored to be on the verge of implementing an extremely large tax on Farm fertilizer used (upwards of 35-40% depending on where you looked). Assume they do go ahead with this rumored idea, what happens next, what is the fallout in the Economy and how will it impact you? Is this a good idea?Business cycles can wreak havoc in the economy and create real economic hardship. Remember, the three indicators to keep your eye on are the unemployment rate, the rate of inflation and the GDP growth rate. At the peak of the business cycle, which economic indicator will enter the “danger zone”? How about in the trough?What are the main factors affecting equilibrium in goods market (Demand and supply)? Explain both beneficial and adverse shocks.
- Suppose that an increase in the cost of resources increases the cost of production for the U.S. economy. If the Federal Government chooses to combat inflation, which of the following would be the best course of action?Group of answer choices 1 Increase expenditure taxes. 2 None of the answers are actions that it would take. 3 Do nothing. 4 Decrease income taxes.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 issuesPlease 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-academy
- You are the chair of the president’s Council of Economic Advisers. There has been an extremely hot and dry summer due to climate change. As a result, crop production has fallen drastically. The president calls you to the White House to discuss the impact on the economy. Would you explain to the president that a sharp drop in U.S. crop production would cause inflation, unemployment, or both?What happens when firms and workers underestimate future prices in the economy. On what would happen to actual output as opposed to the expected potential output.Explain the use of econometrics in context with forecasting and policymaking by using some suitable hypothetical example.