Define the LM curve and explain how the LM-curve is derived. Use graphs to illustrate your answer

Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student’s annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019. The cost of each item in the basket and the total cost of the basket are shown for 2017. Perform these same calculations for 2018 and 2019, and enter the results in the following table.  **THE TABLE IS ATTACHED**   Suppose the base year for this price index is 2017. In the last row of the table, calculate and enter the value of the CSPI for the remaining years.   Between 2017 and 2018, the CSPI increased by_________%. Between 2018 and 2019, the CSPI increased by_________%.     Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college? Check all that apply.   As the price of textbooks increased, more and more students…

Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student’s annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2017, 2018, and 2019. The cost of each item in the basket and the total cost of the basket are shown for 2017. Perform these same calculations for 2018 and 2019, and enter the results in the following table.

The table below shows the total expenditure on a basket of goods and services. Use this information to calculate index numbers for the cost of a basket of goods and services in each period. Assume Period 1 is the base year. Round to one decimal place. Provide your answer below: Period 1 Period 2 Period 3 Period 4 Total Expenditure $1,100 $1,350 $1,400 $1,450 Period 1 Period 2-Period 3 = Period 4 = | Index Number

2. Over the past few years, one of the most closely monitored economic variables has been the inflation rate, which measures the change in the price level. Measuring it is complicated because different prices change by different amounts and sometimes in different directions (for example, the price of college tuition has been steadily rising for decades, whereas the price of TV sets has been decreasing). We can use the expenditure function to aggregate the change in the price level, by asking how much more it costs to achieve the same utility level under the new prices. That is, if the prices change from (P₁, P₂) to (P₁, P₂), where p₁ > p₁ and pź > P₂, we can define the inflation rate as: b. i 1 1 Suppose Bebel has a Cobb-Douglas utility, U = 9₁²9₂², and an income level of Y = 1600. Suppose p₁ = 100 and p = 100 so the price of good 1 doesn't change, but the price of good 2 increases from p₂ = 16 to p2 = 25. a. Calculate Bebel's optimal consumption bundle and utility level at the initial…

Name and discuss the factors that shift the IS Curve. Give two examples, with the help of a diagram, of IS curve shifting, one to the left and one to the right.

3. Briefly explain whether production of each of the following goods is likely to fluctuate more or less than real GDP does during the business cycle: • Tesla Model 300 • McDonald's Big Macs Whirlpool Refrigerator Pampers Diapers ● You are required to explain your answers for each of the products listed above. Ensure you reference your data sources and any academic articles that support your answers. Hint: Graphing the answers may make it visually easier to determine your answer. Please include all graphs, charts, and diagrams in your assignment.

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Consider a fictional price index, the College Student Price Index (CSPI), based on a typical college student’s annual purchases. Suppose the following table shows information on the market basket for the CSPI and the prices of each of the goods in 2019, 2020, and 2021. The cost of each item in the basket and the total cost of the basket are shown for 2019. Perform these same calculations for 2020 and 2021, and enter the results in the following table.   Quantity in Basket 2019 2020 2021 Price Cost Price Cost Price Cost (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) Notebooks 10 3 30 3   4   Calculators 1 75 75 80   104   Large coffees 300 2 600 2   2   Energy drinks 75 2 150 4   5   Textbooks 8 90 720 110   120   Total cost 5 5 1,575 5   5   Price index 5 5 100 5   5     Suppose the base year for this price index is 2019. In the last row of the table, calculate and enter the…

Briefly explain the purpose of an AS curve and describe the characteristics of a typical AS curve.