Question
In: Economics
Suppose that you are the chief economic advisor to the president of the United States. You...
Suppose that you are the chief economic advisor to the president of the United States. You are asked to propose a strategy to bring the economy out of recession. Unemployment is at 13 percent and inflation is relatively low. Your goal is to avoid an increase in inflation and bring the economy to full employment as rapidly as possible. Applying the principles of the Keynesian model, what specific economic policies would you propose to accomplish these goals? What do you believe would be the short- and long-term effects of your policies on both inflation and unemployment rates? Provide justification and examples to support your conclusions.
Solutions
Rahul Sunny answered 2 years agoRelated Solutions
Suppose that you are the chief economic advisor to the president of the United States. You...
Suppose that you are the chief economic advisor to the president
of the United States. You are asked to propose a strategy to bring
the economy out of recession. Unemployment is at 13 percent and
inflation is relatively low. Your goal is to avoid an increase in
inflation and bring the economy to full employment as rapidly as
possible. Applying the principles of the Keynesian model, what
specific economic policies would you propose to accomplish these
goals? What do you...
You are an economic advisor to the Treasurer of the United States. Congress is considering increasing...
You are an economic advisor to the Treasurer of the United
States. Congress is considering increasing the sales tax on
gasoline by $.05 per gallon. Last year motorists purchased 15
million gallons of gas per month. The demand curve is such that
every $.01 increase in price decreases sales by 100,000 gallons per
month. You also know that for every $.01 increase in price,
producers are willing to provide 50,000 more gallons of gasoline to
the market. The legislature has...
You are an economic advisor to the Treasurer of the United States. Congress is considering increasing...
You are an economic advisor to the Treasurer of the United
States. Congress is considering increasing the sales tax on
gasoline by $.03 per gallon. Last year motorists purchased 10
million gallons of gas per month. The demand curve is such that
every $.01 increase in price decreases sales by 100,000 gallons per
month. You also know that for every $.01 increase in price,
producers are willing to provide 50,000 more gallons of gasoline to
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Suppose you work as an economic advisor to the President, who wants to levy a $1.00...
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Being President Trump's Economic Advisor Imagine you are President Trump's economic advisor. Following las year's passage...
Being President Trump's Economic Advisor
Imagine you are President Trump's economic advisor. Following las
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President Trump to push as policy priorities during the coming
year? Will he likely take your advice? If not, why not?
(Required - 5 points possible.)
Congratulations! You have been appointed an economic policy advisor to the United States. You are told...
Congratulations! You have been appointed an economic policy
advisor to the United States. You are told that the economy is
significantly below its potential output and that the following
will happen next year: World income will fall significantly due to
the pandemic, and the price of oil will fall significantly due to
lack of economic activities, as well as the availability of
alternative and more sustainable energy sources (wind, solar,
hydro, nuclear), and the U.S. is an oil exporter, along...
Congratulations! You have been appointed an economic policy advisor to the United States. You are told...
Congratulations! You
have been appointed an economic policy advisor to the United
States. You are told that the economy is significantly below its
potential output and that the following will happen next year:
World income will fall significantly due to the pandemic, and the
price of oil will fall significantly due to lack of economic
activities, as well as the availability of alternative and more
sustainable energy sources (wind, solar, hydro, nuclear), and the
U.S. is an oil exporter, along...
Suppose you’ve been hired as an economic adviser for the United States government. The president has...
Suppose you’ve been hired as an economic adviser for the United
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Should we implement an expansionary...
The “Economic Report to the President of the United States” included data on the amounts of...
The “Economic Report to the President of the United States”
included data on the amounts of manufacturers′ new and unfilled
orders in millions of dollars. Shown here are the figures for new
orders over a 8-year period:
Year
Order
1
54,097
2
54,259
3
55,022
4
55,921
5
62,941
6
64,182
7
72,553
8
76,003
Assuming that weights of 5, 3 and 1 are given to the past three
periods (i.e. a weight of 5 being given to time period...
The “Economic Report to the President of the United States” included data on the amounts of...
The “Economic Report to the President of the United States”
included data on the amounts of manufacturers’ new and unfilled
orders in millions of dollars. Shown here are the figures for new
orders over a 21-year period. GB513: Business Analytics 3 of 6 Use
the charting tool in Excel to develop a regression model to fit the
trend effects for the data. Use a linear model and then try a
polynomial (order 2) model. Make sure the charts show the...
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