when we look at our national business cycle we see periods of growth(recovery) and periods of decline(downturns) where do you think we are in todays economy? are we in a recssion? a downturn? a recovery period? please justify your submission with ehy you chose your answer using economic information we have learned thus far in the course..
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when we look at our national business cycle we see periods of growth(recovery) and periods of decline(downturns)
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- Real Consumption westion 1 The diagram below shows alternate paths for two hypothetical economies, each starting with GDP of $1 billion. Assume that Area 1 is equal to Area 2. at yet swered rked out of Economy B 2% growth Area 2 Flag question Еconomy A 1% growth Area 1 Year X Year Y Time FIGURE 25-1 Refer to Figure 25-1. Which of the following statements about Economies A and B is correct? Select one: O a. Economy B will sustain higher material living standards than Economy A in the long run. O b. Economies A and B will have equal material living standards beginning at Year Y. O C. Economies A and B will have equal material living standards beginning at Year 0. O d. Economy A will sustain higher material living standards than Economy B in the long run. O e. Economies A and B will have equal material living standards beginning at Year X. In a macro model with a constant nrice levelan increase in government nurchases will cause the AF curve to shift E 2°C Light rain/snow 13:01 on 2 C )…The long run macroeconomic performance of an economy can be reflectedfrom the changes of her major macroeconomic indicators. With appropriateinterpretations of the changes to these indicators, one can identify the inherentstructural features of an economy, and hence, identify her strengths andweaknesses. In about 250 words, write a short essay on ONE economy from the list below:i. Singapore;ii. The United Kingdom;iii. The United States.In your essay, describe the changes of major macroeconomic indicators fromthe last decade. Using them to illustrate major structural features of the choseneconomy. Based on the above, identify ONE inherent problem implied bythese structural features that might limit her macroeconomic performance inthe long run. Suggest ONE practical government policy in dealing with thisinherent problem.nciples of Macroeconomics Spring20 fall20 stion 16 Activities that encourage faster growth are yet wered Select one: ked out of a. taxes on saving that serve to encourage more spending and less saving. O b. high levels of consumption and low levels of savings. Flag question O c. developing trade barriers to protect national industries. O d. investment in new capital and human capital. evious page
- An economy starts off with a GDP per capita of 5,000. How large will the GDP per capita be if it grows at an annual rate of 2 for 20 years? 2 for 40 years? 4 for 40 years? 6 for 40 years?As technological change makes us more sedentary and food costs increase, obesity is likely. What factors do you think may limit obesity?Without looking at Table 19.7, return to Figure 19.10. If we define a recession as a significant decline in national output, can you identify any post-1960 recessions in addition to the 20082009 recession? (This requires a judgment call.)
- Refer back to the Work It Out about Comparing the Economies of Two Countries and examine the data for the two countries you chose. How are they similar? How are they different?Explain what the Industrial Revolution was and where it began.What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?
- Cross country comparisons of GDP per capita typically use purchasing power parity equivalent exchange rates, which are a measure of the long run equilibrium value of an exchange rate. In fact, we used PPP equivalent exchange rates in this module. Why could using market exchange rates, which sometimes change dramatically in a short period of time, be misleading?Exercise D25 What role does government play in stabilizing the economy and what are the tradeoffs that must be considered?How can the study of macroeconomics help a country's economic managers? a. All of these are correct O b. It helps to bring stability in price level and analyses fluctuations in business activities O c. It explains factors which determine balance of payments d. It helps to achieve the goal of economic growth, a higher GDP level, and higher level of employment