supply and demand curve:

Hurricane Katrina closed all refineries on the Gulf Coast, while the Chevy Volt, an electric car, is released. What effect will this have on the market for gasoline? Draw and the graph and explain which curve shift first and, then what cause the second curve to shift. Final what happens to price and quantity at the nee equilibrium point?

Consider the simple closed economy of Plantersville with only three goods: computers, peanuts and peanut butter. There is no government, and no international trade.  Note the following very important information:

1. Computers and peanut butter are final goods only.
2. Peanuts are consumed by households as a final good AND are used as an intermediate good by firms in the production of peanut butter.
3. It takes 1/2 pound of peanuts to make each jar of peanut butter.

The table below provides ALL the information you need to know on prices and total output/production in 2017.

What is the current value of Plantersville's GDP? Just use numbers; no spaces, no commas, no decimal points.

In a closed-market economy with unionized labor, suppose unions suddenly get a significant negotiation power on labor contracts at time t∗ and thereby enforced a real wage rate that is 10 percent higher than the market-clearing real wage rate. What would be the effect of this on unemployment, rental rate of capital, real interest rate in long run and very-long run? What would be the effect of using expansionary fiscal policy against this? Explain in detail by showing the changes in the relevant markets.

Construct a closed PV-cycle for a gas of N= 12^22 particles, so that the final point is equal to the initial point. For each step and assuming that this is an ideal gas (so PV=NkT) and also that there is no loss of heat due to inefficiency, a) calculate/estimate the total work done BY the system (not ON the system) for each step (if your step isn't 'straight', you'll have to approximate the area under the curve), b) for each step, use the ideal gas law to estimate the temperatures at the endpoints of each step, and therefore the change in internal energy U, c) combining b) with a), estimate the heat added or withdrawn from the system for each step.

3. Use relevant diagrams to answer the following:

(Assume a closed economy unless stated otherwise)

a. The stock market just crashed; the Dow Jones Industrial Average fell by 750 points. How does this impact the goods market equilibrium interest rate, savings and investment?

b. Suppose your company is in equilibrium, with its capital stock at its desired level. A permanent decline in the expected real interest rate now has what effect on your desired capital stock?

c. If consumers foresee future taxes completely, what would be the impact of reduction in taxes this year that is accompanied by an offsetting increase in future taxes, on the goods market equilibrium. (Assumes that taxes don’t impact investment decisions and also assume consumption smoothing)

d. The tax code changes so that business firms face higher tax rates on their revenue (offset by other lump-sum tax changes so there's no overall change in tax revenue). What happens to saving, investment, real interest rate and current account balance in a small open economy.

Question 1. One period macroeconomic model
We consider an economy closed to a period populated by consumers and produce. The representative consumer chooses the quantity of leisure, let of consumption, as its utility under budget constraint. The representative producer chooses the labor factor that maximizes his profile Preferences satisfy the same properties as in the standard consumer model Similarly, the production function, Y = F(K.N), where k is the capital stock and the quantum labor factor obeys the properties than those of the standard model: in particular, the marginal product of labor is strictly decreasing compared to Net strictly increasing compared to K. Moreover, F(0,N) = F(K,0) = 0. Consumers and producers exchange labor for the consumer good in the labor market; consumers own the businesses and receive all of the profits. It is assumed that the government does not intervene and that public expenditure is zero.

1)Within the framework of this macroeconomic model, define a competitive equilibrium.
2) From the definition of a competitive equilibrium, construct the frontier of production possibilities associated with the choice between leisure and consumption. Explain your approach Graphically represent the quantity of consumption and leisure at equilibrium
3) What is the effect of a fall in the stock of capital, K?Using a graph, Mustrize the effect of this change on the competitive equilibrium. Interpret the result by explaining the mechanism at work

A closed rigid cylindrical vessel (internal diameter = 2 ft and internal height = 10 ft) has R-134a at x = 0.95 and 40 oF. The vessel is heated up to 100 oF. Assume that heat loss from the vessel is negligible. Kinetic and potential effects are negligible. Determine 1) the final pressure in psi [lbf/in2], 2) the mass of R-134a in lbm, 3) the heat transfer in Btu for this process and discuss its direction (if the heat is added to or rejected from the system), 4) the work transfer in Btu for this process and discuss its direction (if the work is done by or on the system), and 5) draw the process in T-v (temperature-specific volume) diagram.

A closed-end fund starts the year with a net asset value of $30. By year-end, NAV equals $31.90. At the beginning of the year, the fund is selling at a 2% premium to NAV. By the end of the year, the fund is selling at a 7% discount to NAV. The fund paid year-end distributions of income and capital gains of $3.30. a. What is the rate of return to an investor in the fund during the year? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Rate of return % b. What would have been the rate of return to an investor who held the same securities as the fund manager during the year? (Round your answer to 2 decimal places.) Rate of return %

Consider a closed economy where firms fear that sales will soon decline and therefore reduce investment (demand shock), although they are not currently facing lower than usual sales and there have been no changes in the interest rate.

A) Use the linear specification of the IS-LM model and its graphical representation to explain what is the effect of the demand shock on the equilibrium level of output assuming that the central bank does not change the monetary policy following the shock.

B) How would your answer change assuming, instead, that the central bank takes monetary policy decisions to avoid changes in the level of output following the shock?

9.5 A closed economy is described as follows:

C^d = 70 + .6(Y-T) - 300r                I^d = 100 - 500r

L = .2Y - 250i     p^e = 0%       G = 40     _      T = 50

M = 120                          NFP = 0         Y = 210

(a) What will the interest rate be in the long run? SHOW YOUR WORK.
(b) What will the price level be in the long run? SHOW YOUR WORK.
(c) Given an equation for the AD curve for this economy in the form Y = …………. (The answer will not have round, pretty numbers. But, if you have time, you can double check your answer to verify that it is the correct equation another way.)