Question
In: Economics
Use the following data to work Problems 1 to 4: The following events have occurred in...
Use the following data to work Problems 1 to 4:
The following events have occurred in the history of the United States:
- A deep recession hits the world economy.
- The world oil price rises sharply.
- U.S. businesses expect future profits to fall
1-)Explain for each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them.
2-)Explain the separate effects of each event on U.S. real GDP and the price level, starting from a position of long-run equilibrium
3-)Explain the combined effects of these events on U.S. real GDP and the price level, starting from a position of long-run equilibrium
4-)Describe what a classical macroeconomist, a Keynesian, and a monetarist would want to do in response to each of the events listed above.
Solutions
Rahul Sunny answered 1 year agoRelated Solutions
Use the following data to work Problems 1 to 4: The following events have occurred in...
Use the following data to work Problems 1 to
4:
The following events have occurred in the history of the
United States:
A deep recession hits the world economy.
The world oil price rises sharply.
U.S. businesses expect future profits to fall
Explain the separate effects of each event on U.S. real GDP and
the price level, starting from a position of long-run
equilibrium
Use the following data to work Problems 1 to 4: The following events have occurred in...
Use the following data to work Problems 1 to
4:
The following events have occurred in the history of the
United States:
A deep recession hits the world economy.
The world oil price rises sharply.
U.S. businesses expect future profits to fall
Explain the combined effects of these events on U.S. real GDP
and the price level, starting from a position of long-run
equilibrium
Use the following data to work Problems 1 to 4: The following events have occurred in...
Use the following data to work Problems 1 to
4:
The following events have occurred in the history of the
United States:
A deep recession hits the world economy.
The world oil price rises sharply.
U.S. businesses expect future profits to fall.
Explain for each event whether it changes short-run aggregate
supply, long-run aggregate supply, aggregate demand, or some
combination of them.
Use the following data to work through problems 4-6. 50.0 mL of each solution was used...
Use the following data to work through problems 4-6.
50.0 mL of each solution was used in each experiment.
Each solution had a molarity of 2.00 M.
The density of the solutions once mixed are 1.03 g/mL.
The following table is data collected from an actual
experiment.
Initial Temp
Final Temp
Temp Change
NaOH + HCL
19.85
33.07
13.2
NaOH+ NH4Cl
19.78
20.40
0.62
HCl + NH3
20.16
32.05
11.89
Calculate the amount of heat energy,
qsurroundings, produced in each...
Use the following information to work Problems 4 and 5. In China, the price of imported...
Use the following information to work Problems 4 and 5. In
China, the price of imported natural gas that is heavily used in
local production fluctuates frequently. This causes China’s
short-run macroeconomic equilibrium to fluctuate. Someone suggested
that the government raise transfer payments when the price of
natural gas rises in a way that counters the decrease in the
macroeconomic equilibrium.
4. How would such an action influence aggregate demand?
5. How would such an action influence aggregate supply and...
Consider the following potential events that might have occurred to Global on December 30, 2016. For...
Consider the following potential events that might have occurred
to Global on December 30, 2016. For each one, indicate which line
items in Global's balance sheet would be affected and by how much.
Also indicate the change to Global's book value of equity
a. Global used $ 19.4 million of its available cash to repay
$19.4 million of its long-term debt.
b. A warehouse fire destroyed $4.9 million worth of uninsured
inventory.
c. Global used $4.9 million in cash and...
Use the following data to work Problems 11 to 14. Kaiser’s Ice Cream Parlour hires workers...
Use the following data to work Problems 11 to
14.
Kaiser’s Ice Cream Parlour hires workers to produce
milkshakes. The market for milkshakes is perfectly competitive, and
the price of a milkshake is $4. The labour market is competitive,
and the wage rate is $40 a day. The table shows the workers’ total
product schedule.
Number of workers
Quantity produced
(milkshakes per day)
1
7
2
21
3
33
4
43
5
51
6
55
Calculate the marginal product
of...
4. Do the following problems, using data set #3: (a) Use the naïve forecasting method, the...
4. Do the following problems, using data set #3:
(a) Use the naïve forecasting method, the average of historical
data method, and a 3-period moving average to estimate values of
X.
(b) Calculate the Mean Absolute Error, the Mean Squared Error,
and the Mean Absolute Percentage Error for each forecasting
method.
(c) Based on your answers to (b), which the best forecasting
method?
5. Do the following, using data set #3:
(a) Calculate a linear trend regression for X.
(b)...
Consider the following potential events that might have occurred to Global Conglomerate on December 30, 2015....
Consider the following potential events that might have occurred
to Global Conglomerate on December 30, 2015. For each one,
indicate which line items in Global's balance sheet would be
affected and by how much. Also indicate the change to Global's
book value of equity. (In all cases, ignore any tax consequences
for simplicity.)
a. Global used
$ 20$20
million of its available cash to repay
$ 20$20
million of its long-term debt.
b. A warehouse fire destroyed
$ 5$5
million...
The following events occurred in August and September: 8/1 YOU filed a charter with the State...
The following events occurred
in August and September:
8/1 YOU filed a charter with
the State of Louisiana to form the YOUR Accounting Corporation. The
charter authorizes you to issue 5000 shares of $2 par common stock.
The state charged you a $75 fee to file the charter. Since your
business is not yet approved, you had to pay this fee using
personal funds.
9/1 You received your charter
from the State of Louisiana and officially opened your
business. Your...
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