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- 4the money supply in freedonia this year is $150 billion Nominal GDP is $750 billions and real GDP is $250 billion. assuming that velocity of money is stable real GDP grows by 2%this year and the money supply does not change. what are the velocity price level and inflation rate14. If the expected inflation rate is 5% and negotiators agree that the real wages should rise by 7%, the two sideswill agree to an increase in the money wage ofA 2%B 5 %C 7 %D 12%1. Which do you think would be more harmful to the economy—an inflation rate that averages 5 percent a year that has a high standard deviation or an inflation rate of 7 percent that has a standard deviation close to zero? 2. Suppose a major bank needs to borrow $20 billion overnight that it cannot obtain from private creditors. The Fed is willing to make a discount loan of $20 billion provided that it will not alter the aggregate supply of reserves to the banking system. How can it do so?
- 15 ) Monetary Approach with a constant velocity Money supply growth has steady been 2% higher in Japan than in the US and output growth has steady been 2% lower in Japan than in the US. ThenO1 a) (E_S/Yen) has been rising by 4%02 b) (E_S/Yen) has been falling by 4%03 c) (E_S/Yen) has been invariant 04 d) real interest rate has been higher in JapanO5 e) two of (a)-(d)Suppose inflation is estimated at 5%, potential GDP is $18T and actualGDP is $20T. What federal funds rate is appropriate according to theTaylor rule?Price stability: Suppose you are the head of the central bank and your mandateis to maintain the price level at a constant value. Explain what you would doto the money supply in response to each of the following events:(a) Real GDP increases by 4% during a boom.(b) Real GDP declines by 1% during a recession.(c) Real GDP is growing at 3% per year.(d) Te velocity of money increases by 2%.(e) Te velocity of money declines by 1%.
- 14. Which of the following is the main goal of contractionary monetary policy? a.An increase in the money supply b.An increase in spending c.An increase in aggregate demand d.A decrease in the money supply23. Which of the following is not a way that the United States government attempts to control the growth of the American economy and control for inflation? A. by changing reserve requirements B. by raising national debt C. by changing interest rates D. by changing money supply2. What effect a large federal budget deficit have on interest rates? Price B$ RD T Q. of Bonds 3. The president of the U.S. announces in a press conference that he will fight the higher inflation rate with a new antiinflation program. Predict what will happen to interest rates if the public believes him.
- PRICE LEVEL Adjust the graph to show the long-run effect of an unanticipated expansionary monetary policy on the goods and services market by dragging the es aggregate demand (AD) curve, the short-run aggregate supply (AS) curve, or both. g and Study Tools 1 Options The Market for Goods and Services ge Success Tips er Success Tips AS DED FOR YOU AD dy Tools AS s for Principles of AD Feedback REAL GDP V in real GDP and a "An expansionary monetary policy when the economy is at full employment leads to a V in the price level. True or False: An expansionary monetary policy can promote long-term grovwth. O False 4:3 86 F Partly sunny 8/ O Type here to searchN6 How could Venezuela's inflationary problem be resolved once and for all? Consider and remark on the the following solutions, considering what they involve and how effective they might be. a. A full official dollarization b. Adoption of BitCoin or nother crypto currency such as the Petrolo. c. Legislation mandating a balanced budget approved by the Congress and signed into law by the President.4. What are the factors that determine the magnitude of the cost of disinflation? How could the policymakers can reduce the cost of disinflation?