Macroeconomics (Fourth Edition)
4th Edition
ISBN: 9780393603767
Author: Charles I. Jones
Publisher: W. W. Norton & Company
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Chapter 15, Problem 7RQ
To determine
Impulse response function.
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The economy always tends toward full employment.
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- Are the inventories typically the least liquid of a firm 's current assets? How?arrow_forwardFor an increase in output, average costs change by more in the short-run than in the long-run, but for a decrease in output, the opposite is true. True, false, or uncertain?arrow_forwardHow does forecast accuracy relate, in general, to the practical application of the aggregate planning models discussed in the chapter?arrow_forward
- What is a capital gain, and what role does it play in the arbitrage equation?arrow_forwardWhy is Okun's law a useful rule of thumb to keep in mind when analyzing our short-run model?arrow_forwardIf Y =C+I+G C = 120 + 0.5 (Y-T) I= 100 -10r G = 50 T=40 What is an IS Curve? What factors determine the slope and steepness of the IS Curve?arrow_forward
- If you draw the cash flows from any investment, you would have negative cash flows at the beginning, and then you would receive a stream of positive cash flows thereafter. So why do we need the separate concept of a J-curve? In other words, what is the difference between a J-curve and the cash profile of any other investment?arrow_forwardWhy is the philip's curve not applicable in today's economyarrow_forwardWhat are three insights you gained from studying the microfoundations of theIS curve?arrow_forward
- Assume that the United States economy is currently in a recession in a short-run equilibrium. When interest rates fall, what is the impact on each of the following? (i) Investment (ii) Economic growth rate. Explainarrow_forwardWhat usually causes a positive disequilibrium rate? What usually causes a negative disequilibrium rate?arrow_forwardDetermine the effect (up, down, or no change) of this false belief on each of the following: Current consumption (C) Current investment (I) Current labor input (N) Current real wages(w) Current output (Y) Current interest rate (r)arrow_forward
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