Assume you are a professional economist and are asked to evaluate the $2.2 trillion economic stabilization...

Assume you are a professional economist and are asked to evaluate the $2.2 trillion economic stabilization package recently passed by Congress.

Outline the major features of the stabilization package.
Which features of the package make the most sense to you and you would support?
Which features of the package do not make sense to you and you think should be eliminated?
What additional features of economic stabilization would you propose that is missing from the stimulus package?

Expert Solution

a) Aid given to unemployed which would help in replacing 100%of lost wages for workers with low income.This will increase unemployment benefit by $600 for next 4 months .It will extend by 13 weeks the unemployment benefit. There will be one time cash payment for all households which are not rich.Individuals who earn less than 75000 will get $1200 in cash and couples who earn 150,000will get $2400 and $500 for every child in the family.Small business with less than 500 employees will get loans to cover cost of payroll, rent, mortgage etc.Loans have also been given struggling industries like airlines .States and local government will get fund from the Federal government of $150 billion which is not adequate and need to be raised.Hospitals will get $100 billion in grants.Telemedicine investment which will help health sevice providers to connect withpatient through skype will get$200 billion.

b)Aid given to unemployed which would help in replacing 100% of lost wages for low income workers and includes free lancers too is the feature which makes sense to me and I support this.This feature has been elaborated above.

c)I do not support the feature of the package thatapproves $4.54 trillion for plutocracy stabilization fund..It has not been clarified how this huge amount of money will be distributed.It is understood by legislators and reporters that majority of the money will go towards giving credit to big firms.

d) Inequality in America is high and so it is necessary to take this opportunity to exploit the weaknesses of the wealthy people rather than protect them and get fairer terms for workers , customers and tax payers in the social contract of America.

Rahul Sunny answered 9 months ago

In a closed economy (in equilibrium), assume that real GDP is $15 trillion, government purchases are $1.3 trillion, public saving is $0.5 trillion, and national saving is $2.2 trillion.

ECO 252 - MacroeconomicsIn a closed economy (in equilibrium), assume that real GDP is $15 trillion, government purchases are $1.3 trillion, public saving is $0.5 trillion, and national saving is $2.2 trillion. Calculate the following: a. Taxesb. Consumptionc. Investmentd. Private savinge. The government budget deficit or surplus.Precise which one.

As an economist, assume that you are asked to perform a cost-benefit analysis of meat production...

As an economist, assume that you are asked to perform a cost-benefit analysis of meat production and consumption. What is the costs of producing industrialized meat? Explain who bears each of the costs. List the benefits of producing industrialized meat. Who bears the benefits?

Assume that you are an economic policy adviser, and the government has asked you to prepare...

Assume that you are an economic policy adviser, and the government has asked you to prepare a report on the issues to consider in the provision of tertiary education. In particular, you are asked whether the government should fully subsidise tertiary education, partially subsidise tertiary education, or move to a full-fees system where students pay the full cost of their education. Discuss the factors that you should consider.

You have been asked to evaluate the economic implications of various methods for cooling condenser effluents...

You have been asked to evaluate the economic implications of various methods for cooling condenser effluents from a 200-MW steamelectric plant. There are two basic types of cooling towers: wet and dry. Furthermore, heat may be removed from condenser water by (1) forcing (mechanically) air through the tower or (2) allowing heat transfer to occur by making use of natural draft. Consequently, there are four basic cooling tower designs that could be considered. Assuming that the cost of capital to...

Question: You have been asked to evaluate the economic implications of various methods for cooling condense......

Question: You have been asked to evaluate the economic implications of various methods for cooling condense... You have been asked to evaluate the economic implications of various methods for cooling condenser effluents from a 200-MW steamelectric plant. There are two basic types of cooling towers: wet and dry. Furthermore, heat may be removed from condenser water by (1) forcing (mechanically) air through the tower or (2) allowing heat transfer to occur by making use of natural draft. Consequently, there are...

Imagine you are the chief economist for the President. The President has asked you to develop...

Imagine you are the chief economist for the President. The President has asked you to develop a policy that he can announce during the upcoming State of the Union Address. Your staff knows the President has a fondness for the SAS-AD model. Unfortunately you can't you give him solid policy prescriptions based on that model because you do not know the location of the LAS curve. Explain why that is a serious problem. What are the consequences of enacting fiscal...

Assume the United States has a potential GDP of approximately $18 trillion. Use economic indicators from...

Assume the United States has a potential GDP of approximately $18 trillion. Use economic indicators from the last eight quarters (two years) to make a determination about the state of the economy, whether the U.S is in a recession, expansion or macroeconomic equilibrium. You must explain and support your answer with information you have researched and learned during the semester. Any research that is used must be cited in the paper. This information should include the following: Real GDP  Unemployment...

Assume you are the economist for a MNC and your job is to keep the CFO...

Assume you are the economist for a MNC and your job is to keep the CFO and CEO abreast of events affecting country risk. Please comment on one event occurring in the market that may affect country risk that your boss should be aware of and understand. Your job is to make him or her look smart. Try to focus on the country of Lebanon.

1. Assume that you are the economist for a coal mining company and have estimated the...

1. Assume that you are the economist for a coal mining company and have estimated the demand curve facing your firm to be ????? ? = ?, ??? − ?????? + ????+. ??? where Png is the price of natural gas, which is assume to be $3/MMBtu and Pw is the price of wind power, which is assumed to be $70/MWh. A. What is the own price elasticity of demand when Pc = $80/ton? Is demand elastic or inelastic at...

2. Suppose you serve as an economist on the President’s Council of Economic Advisors (CEA), and...

2. Suppose you serve as an economist on the President’s Council of Economic Advisors (CEA), and the President has asked the CEA to inform him on potential policy responses to a recession the Country is currently experiencing. Your boss, the head of the CEA, feels it would be a good idea to explain both “models” of the macroeconomy to the President in some detail, and has asked you to write a response to the questions below in the most straightforward...

Question