1. Given the utility function U = 1/2 1/3 (a) Determine the value of the marginal utilities (b) Hence estimate the change in U if ₁ and 22 both increase by 1 unit. (c) Does the law of diminishing marginal utility hold for this function? (Take a look at pg 376 Jacques) and when 2₁ = 25 and 2₂ = 8.
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- Hello, I need help with the following macroeconomics questions. Thank you in advance! It states to answer the followint in your own words and using the graph attached below: 1. How many recessions did the US economy experience between 1929 and 2020 2. What were the four longest recessions between 1929 and 2019? (Notice I don’t askfor 2020 since it’s not available in the textbook when it ended). 3. What were the three deepest recessions between 1929 and 2019? That is, duringwhich three recessions was the decline in real GDP biggest from peak to through?Early during the COVID-19 pandemic, the government used multiple stimulus packages to increase government spending. 3. Using the Z-Y, NX-Y, IS-LM, UIP combined graph on the next page, what should be happening as a result? Show the shifts on the graph itself. NN Z Z NN Y=Z Z c0- if f UI i pvt L M c1T+I+G+NX i10 y 45° if f if NK N Y Y f 0 Y X Y 0 Y 0 Y 20 NX N X E 0 E Y NX Fiscal stimulus/118790/quizzes/952344/take ASU My ASU Р P1 PO P PO P1 OB ASU CANVAS O C A LRAS YO Y1 B LRAS YO Y1 SAS AD Real GDP SAS AD' SAS AD Real GDP P PO P1 P P1 PO C LRAS Y1 YO D AD' LRAS SAS Y1 YO SAS AD Real GDP SAS AD Suppose the economy begins in long-run equilibrium. Which of the graphs best describes the long-run result of a decrease in the money supply? Real GDP P P1 PO PO P1 E ……….. LRAS www. F YO YO LRAS SAS' AD' SAS AD SAS AD Real GDP AD' SAS' Real GDP
- Actual and Potential GDP (a FRED question): Using the FRED database, locatethe Congressional Budget Ofce’s measure of potential GDP by searching for“GDPPOT.” Using the “Add Data Series” option, add the series “GDPA” (realannual GDP) to this graph. Adjust the sliders to show the data from around1985 to the present.How do i trace this scenario on the circlar flow model, firms inventories unexpectedely rise?Student question Please Provide the answer for Question 3 and 4 G Font PO PIEL EO P2 3 R/GDPP/GDP R/GDP C Learning Activity 8 Consider the following AD-AS model for an economy and answer the following questions. F LRAS R/GDP AD2 ADI Paragraph SRAS ADO 4. What are factors that can shift LRAS to the right? Answer: Time Left: 00:09:34 1. Indicate the point where the above economy is in equilibrium in the short run and long run? Answer: 2. Explain the inflationary gap in the above graph and how the economy can recover itself from this output gap? Answer: 3. Explain recessionary gap in the above graph and what kind of fiscal policy can be used by a government to recover the economy from this output gap. Answer: