What are 3 of the biggest impacts of COVID-19 on the economy? I need 3 examples with citations for a paper.

Describe the COUNTER ARGUMENTS to the national security, declining industries, and infant industry arguments for protecting a domestic industry from international competition.

Aggregate Expenditure Practice Problem #1

Consider the following AE model:

C=.75Y_d+ 300   Y_d = Y – T     I=100   G=50   T=40   M=50 X=65

1. Find the following:

2. Using the ∆RGDP equation, compute the new Y* if G is decreased by 15.

3. Verify your computation in #2 above by substituting G = 35 in the full AE model, and show your work.

4. Assume G remains at its original level of 50. Using the ∆RGDP equation, compute the new Y* if T is increased by 15.

5. Why does the change in G in question #2 have a more powerful effect on the economy than the change in T in question #4?

Aggregate Expenditure Practice Problem #2

Consider the following AE model:

C=.80Y_d+ 200   Y_d = Y – T    I=125 G=200 T=150 M=100 X=50

1. Find the following:

2. Using the ∆RGDP equation, compute the new Y* if autonomous consumption is decreased by 50.

3. Assume that Y_FE = 2000. Compute the ∆G necessary to make Y* = Y_FE.

4. Assume that Y_FE = 2000. Compute the ∆T necessary to make Y* = Y_FE.

1. Briefly describe WHY the Classical Economists believed there was no point in stimulating the Aggregate Demand curve to achieve Economic Growth?

2. Briefly describe WHY the Keynesian Economists believed there was no point in stimulating the Aggregate Supply curve to achieve Economic Growth?

3. In the Modern Macroeconomic Synthesis, both matter: Why is this the case?

4. Given the Federal Government and Provincial Government responses to this Time of Pandemic, briefly explain at least ONE POLICY that would IMPACT EACH of the Aggregate Demand, AD curve AND the Short-Run Aggregate Supply, AS curve

Why would a country want to join the European Monetary Union and what would be the downside of this decision ? Who would be the winners and who would bethe losers ? If you’ve travelled abroad, please share your experience with foreign transactions. Please use economic terms in response.

Why do governments sometimes pay for their spending by printing more money? Why do economists refer to this as an ‘inflation tax” that can result in very harmful results?

MUST BE OVER 250 WORD RESPONSE

Provide an example of a pair of products that you would consider to have a positive cross price elasticity. Provide another example of a pair of products you would expect to be negative. Is there a scenario where someone else might view them in the opposite way?

An insurance company would like to offer theft insurance for renters. The policy would pay the full replacement value of any items that were stolen from the apartment. Some apartments have security alarms installed. Such systems detect a break-in and ring an alarm within the apartment. The insurance company estimates that the probability of a theft in a year is 0.05 if there is no security system and 0.01 if there is a security system (there cannot be more than one theft in any year). An apartment with a security system costs the renter an additional $50 per year. Assume that the dollar loss from a theft is $10,000 and that the insurance company is risk neutral and the renter would be willing to pay more than the expected loss to insure against the loss of theft. For a security system to be effective the renter must turn it on whenever he or she leaves the apartment. Suppose it costs the renter $10 per year in expended effort to turn on the alarm system. What is the insurance company's break-even price for a one year theft insurance policy for an apartment with a security system?

An insurance company would like to offer theft insurance for renters. The policy would pay the full replacement value of any items that were stolen from the apartment. Some apartments have security alarms installed. Such systems detect a break-in and ring an alarm within the apartment. The insurance company estimates that the probability of a theft in a year is 0.07 if there is no security system and 0.02 if there is a security system (there cannot be more than one theft in any year). An apartment with a security system costs the renter an additional $100 per year. Assume that the dollar loss from a theft is $10,000 and that the insurance company is risk neutral and the renter would be willing to pay more than the expected loss to insure against the loss of theft. For a security system to be effective the renter must turn it on whenever he or she leaves the apartment. Suppose it costs the renter $20 per year in expended effort to turn on the alarm system. What is the lowest deductible amount would provide sufficient incentive for the renter to turn on the alarm system each time she leaves the apartment?

How has Ireland been impacted by the International Monetary Fund (IMF), the World Bank, and/or the World Trade Organization? Is it one of the primary contributors and if so has it allowed funds to be transferred to other countries? If Ireland is a borrower, has its loan been productive? Why or why not? Are there any ethical concerns between Ireland and other nations?