Discuss the effects of a shock that increases oil prices in the AD-AS model. Be sure to explain also the problem of stagflation.

Discuss the various types of frictions and distortions in labor and product markets that make the adjustments of wages and prices slow, according to New Keynesian macroeconomists.

In the New Keynesian Macroeconomics business cycles are driven by demand shocks, while in the New Classical Macroeconomics they are driven by supply shocks. Explain this statement using your knowledge of the AD-AS model.

Due to the pandemic of COVID-19 in the U.S., the price of U.S. crude oil contracts for May 2020 delivery has turned negative for the first time in history. For instance, West Texas Intermediate (WTI) crude oil contracts for May fell 301.97 percent to -$36.90 per barrel.
State your understanding of this phenomenon and carefully explain your arguments with economic tools and/or economic intuition, including the aspects of
1.   demand for oil by households;
2.   demand for oil by non-household demanders, such as manufacturers;
3.   market supply of oil;
4.   equilibrium price and quantity.

Question 1:Fact I:Consider the following setup that follows the standard Solow model in Country A.There are N consumers,each
endowed with one unit of available time.Consumers do not value leisure and they divide output between consumption and savings
according to the following rule:a fraction s of output is saved,and the rest is consumed.There is a representative firm that has a Cobb-
Douglas production technology of the form Y=zF(K,N),where K denotes capital,N denotes Labour,z is(Total Factor Productivity
（TFP).Initially country A had 100 units of Capital,144 units of labour and population growth rate was 0.01.Suppose you are given
the fact that in this economy depreciation d is 0.09 and at steady state,the output per-capita could be expressed as y*=(k*)05.Now,
consider the unfortunate situation where a disease took several lives,reducing the number of labour force equal to 81 units.
1.1 Describe and explain changes/effect of this disease on country A's per-capita output,and per capita capital in the steady
state,comparing these with the initial steady state that was prevailing before the disaster.(Note:you are supposed to
describe and explain changes in detail,following Solow Model.The numbers are provided to give you more details
about the economy,but you are not required to provide mathematical derivations/numbers for this question).
1.2 If you were illustrating the old and new steady state in a diagram,with per-capita capital in x-axis,describe how your
graph would change before and after the disease.Would you expect the growth rate of output per worker in country
A smaller or greater than it was before the disease?

Hello, I'm confused on part 'C' on how to graph the answer I received in part 'B'

B. A steam boiler is required as part of the design of a new plant. The types of fuel that can be used to ignite the boiler are natural gas, fuel oil, and coal. The cost of installation including all required controls is $40,000 for natural gas, $50,000 for fuel oil, and $120,000 for coal. In addition, the annual cost of fuel oil is $8,000 less than the annual cost of natural gas and $12,000 more than the annual cost of coal. The boiler is to be utilized for 20 years and interest rate is 8%. Using the most suitable approach, determine the best alternative. Is there any other consideration for the obtained result?

Present Worth of Costs:

            Natural Gas:

                        PWC: 40,000 + 8,000 (P/A, 8%, 20) + PWC(OIL)

                        PWC: 40,000 + 8,000 * 9.8181 + PWC(OIL)

                        PWC: 78,544.80 + 40,000 + PWC(OIL)

                        PWC: 118,544.80 + PWC(OIL)

            Fuel Oil:

                        PWC = 50,000 + PWC(OIL)

            Coal:

                        PWC = 120,000 – 12,000(P/A, 8%,20) + PWC(OIL)

                        PWC = 120,000 – 12,000 * 9.8181 + PWC(OIL)

                        PWC = 120,000 – 117,817.20 + PWC(OIL)

                        PWC = $2,182.80

The best alternative to ignite the boiler is coal. There are not other issues to be considered to obtain results.

C. Using Excel software or any other software package, solve the problem of Part B. Include all required command statements/programming as part of your solution.

Explain any two measures the government can use to control inflation.

Genovieve MacIntyre is an Australian resident taxpayer. Genovieve was studying nursing at Curtin University and had one year left of her degree. However, in 2018, she decided to discontinue her studies and pursue a career as a beautician. She began working as a beautician in a high-end salon in Nedlands called “Polish.”

The following information relates to the tax year ending 30 June 2020. Please discuss the income tax implications of each of the below.

1. In addition to working at the salon, on the weekends, Genovieve provides beauty services to her oldest friend Aurora. Aurora has a busy social life and Genovieve estimates that she provides her with beauty services such as makeup and nail application every two weeks. In January 2020, Aurora gifted Genovieve two amounts. One was $2,000 in respect of Genevieve’s beauty services for many years and another amount of $1,000 which Aurora begged Genovieve to accept as a gift for being such a wonderful friend. Genovieve did not want to accept the money but eventually took the $2000 and told Aurora to give the $1,000 to a worthy charity. Aurora chose Greenpeace, as that was a charity she knew Genovieve had supported in the past.

2. As a result of her work for Aurora, Genovieve finds she has a number of friends who want beauty services performed on the weekends. She doesn’t keep detailed books and records. However, Genovieve thinks she has around 20 friends for which she regularly performs these services. She tells them to leave a small token of their appreciation and leaves a price list of “suggested prices” for various services on her coffee table that they might like to donate. Genovieve has received $10,000 in the current income year from these friends.

3. As a result of the increase in beauty procedures she is performing for her friends on the weekend Genovieve purchases an EVO 2 Deluxe Spa Table for $7,500 on 1 January 2020. This will have an effective life of 7 years.

What’s your thought on the future development of global economy in terms of the integration of countries through cross-national cooperation and agreements?

Will the global economy more integrated or disintegrated?

Will countries stress more regional integration?

Will countries try to be more self-sufficient and decrease their dependence on trade?

--Support your points with research evidence and critical thinking--

1a) This article looks at how technological advancement can impact employment (or workers). How can AI be a threat to employment? In what ways it may actually be beneficial for workers? For firms? For the economy?

b) Will robotics be a continuous problem for employment? What might be some of the costs of unemployment, to the unemployed worker and to the society as a whole, besides the worker’s loss of income?

Character and Personality for the President Barrack Obama. Perhaps harder to determine but just as important in evaluating a president are the personal qualities the person brings to the office. Historians have reached consensus on the following traits as being important to a president: intelligence, honesty, integrity, character, flexibility, adaptability, and most importantly decisiveness. What about presidential relationships (i.e., with Congress, the press, the courts, the public, etc.)? Here you should look at popularity (do not place too much emphasis on opinion polls e.g., look at Reagan and Bush, neither will be considered Great presidents; Harding was extremely popular yet consistently considered a failure).

3. A small town has only one doctor. He charges a rich person twice as much as a poor person for a similar consultation.

a) How does this pricing policy relate to the price elasticity of demand? Are resources being used efficiently? Explain.

b) Suppose now that the doctor charges everyone the maximum price they would be willing to pay. What happens to consumer surplus? Will resources the allocated efficiently in this case? Explain and illustrate your answer with a graph

Define business cycle and give indicators along each phase.