J.M keynes in the general theory of employment, interest and money said, "the propensity to consume and the rate of new investment determine between them the volume of employment (in an economy). "how was this different from the classical theory that prevailed before this? what did keynes focus on that completly revolutionized economic thinking forever? use the keynesian cross diagram to explain your answer and then explain why keynes theory and particularly his policy is even more relevent that ever to todays COVID depression.

suppose you are hired by the Canadian government to give advice on capital spending with the goal of improving economic growth.
Given the many types of capital,how would you allocate $1000000 of capital spending among the types of capital? provide a short explanation to justify your allocation.
You may make assumptions about the canadian econmony as i do not expect you to have full information.

1. If a central bank makes an unsterilized purchase of foreign reserve assets, what happens to its monetary base? ___________

2. How does a sterilized sale of foreign reserve assets affect the domestic interest rate? _________________

3. If a country has a current account surplus, will it have capital inflows or outflows? _____________

4. If a country with a fixed exchange rate has a balance of payments deficit, would it buy or sell reserve assets to maintain the par value of its exchange rate? _______________________

5. If a county with a fixed exchange rate is expected to devalue its exchange rate, what might force devaluation? ___________ ___________

6. What must a country control to have a fixed exchange rate and an independent monetary policy? __________ ___________

7. When a group of countries adopt a common currency, this is known as a _______ ________?

8. What are countries that borrow from the IMF required to do?   _________ _________ ____________________

9. How does the creation of a currency board constrain a country’s monetary policy? _____________________

10. Panama uses the U.S. dollar as its currency. This is known as ______________?

Overfishing is caused by the “Tragedy of the Commons.” Explain why.

What is a rebound effect? Give examples of micro- and macroeconomic rebound effects. Does the existence of rebound effects strengthen or weaken the case for a government program to weatherize the homes of low-income homeowners to reduce carbon emissions?

please explain as many as possible and as clearly as possible :
1. Why 5G will be a rollout rather than a launch? 2. What are the concerns about 5G in terms of privacy?

What is Averch–Johnson (AJ) Effect? Show the additional social welfare loss caused by AJ Effect in the case of a regulated natural monopoly with average cost pricing with a graph and explain.

1. In 2009, President Obama with Congressional approval increased government spending and decreased lump-sum taxes in response to the financial crisis.  
   1. Graph and explain what happens in both the ISLM model and the ADAS model (with the upward sloping SRAS curve) in the short run. Be sure to discuss real output, real interest rate and the price level in your answer.
   2. Graph and explain what happens in the long run if the Fed does not change monetary policy. Be sure to discuss real output, real interest rate and the price level in your answer. You may use your graph from part a.
   3. Fill in the table based on your answers to a. and b.

Is a ban on incandescent bulbs socially efficient? What about leaving the decision to the market? Explain your answer with a graph.

1. Answer the following questions for each of the three situations outlined below:
   1. What is the good or service being consumed? Does its consumption create externalities? If so, what they are and are they positive or negative?
   2. If the example involves externalities, identify who creates the externality and who benefits or suffers from it.

#1--Antibiotics are becoming less effective as bacteria evolve, a process accelerated by overuse of antibiotics by doctors. Nevertheless, a “survey of physicians showed they were most likely to choose the broadest spectrum [antibiotic] to treat pneumonia, despite guidelines to the contrary; contributing to resistance rated lowest among seven determinants of their choices. (The Milken Institute Review, Third Quarter 2012)”

#2--An AP article (Yabba Dabba Don’t, AP, April 7, 2019) reported on a house built by a rich retiree in Hillsborough, a posh suburb of San Francisco. The house is “…an elaborate homage to “The Flintstones” family…The bold, bulbous house is surrounded by Stone Age sculptures inspired by the 1960s cartoon, along with aliens and other oddities...” The town says the property is “an eyesore.” The resulting controversy “has sparked…an online petition signed by thousands to preserve the attention-grabbing property, visible from a nearby highway….”

#3--Avocados have become increasingly popular in China, Japan, and Canada, and some avocadoes that used to be exported to the United States are now sent to these other countries.   Prices for avocadoes in the US have increased dramatically as a result, causing some restaurants to add a surcharge on orders of guacamole.

Comment on income levels and the substitution effect? Does the amount of disposable income really matter? (In other words, once your necessities (food, water, shelter, clothes, insurance, cell phone, etc. are paid, do you "need" to buy anything else (concert tickets, a new purse, a collectible, etc?  

1. This question concerns our short run model of exchange rate determination.

1. Why do we need a different model of exchange rates in the short run and the long run? Your answer should include some reference to empirical evidence.

2. Assume we are in the short run, and assume that the Federal Reserve keeps the supply of dollars fixed. The U.S. has an excellent corn harvest this year, so real output Y goes up. Explain what you expect to happen to the dollar-euro exchange rate E$/€ and why.

Suppose we have n firms in a perfectly competitive industry. The shapes of the marginal and average cost curves are as usual, i.e., they are U-shaped. The industry demand curve is downward sloping. Please answer the following questions associated with this simple model. a. Write down the basic assumptions of a perfectly competitive industry. We have frequently stated that these assumptions were very crucial in obtaining certain results from this model. Explain each assumption in that sense in a few sentences. b. Describe the industry equilibrium and corresponding long-run equilibrium of any firm in this market. For this analysis, you are supposed to draw two graphs. c. If there is an increase in the demand for the product in this industry, how is the market going to be affected? What will be the effect of this change on a representative firm in the short-run? Explain possible profit opportunities in the market. As you did in part (b), draw two graphs showing all these changes. For simplicity purposes, please use the same long-run AC curve for your analysis. d. How will the industry adjust to the change in the demand in the long-run? More briefly: (i) What will happen to the number of firms in the industry? (ii) What are the properties of the new long-run equilibrium in terms of profits? (iii) Which particular assumption(s) did you use in reaching these conclusions? Assume a change in total industry supply will not change the input prices.