Given the pandemic greatly affecting the economy, how can the economy realign to fit the “new normal” using the elementary concepts of macroeconomics?
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Given the pandemic greatly affecting the economy, how can the economy realign to fit the “new normal” using the elementary concepts of
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- Define equilibrium and steady state. Can we find a steady state for each dynamic general equilibrium model? Why or why not?How does macroeconomics help analyze the impact of the coronavirus that swept the world late last, and this year?Modern economic models sometimes require strong assumptions. What do you think are some of the trade-offs between a more rigorous, logically cohesive model with strong assumptions but clear inferences and a description of problems followed by a verbal discussion of possible implications?
- What is the purpose of macroeconomic models? How can a model of ice creamproduction be used to explain 50-fold income diferences across countries?. Find the equilibrium solution of given economic models, a- Qd = 8 – P2 , Qs = P2 – 2According to the trilemma, which three macroeconomic policies are mutually inconsistent?
- Identify three macroeconomic issues that have been in the news recently.If a macroeconomist studying the causes of unemployment suspects that changes in technology might play a role, then this macroeconomist is at which step in the process of developing an economic model? Compare the model with the data. Conduct prediction and policy analysis. Develop a model. Identify the endogenous variables. Identify the exogenous variables.Suppose Congress cuts spending for the military, and then unemployment rises in the Philippine defense industry. Is there causation in this situation, or are we observing an association between events?
- One of the following scopes under the definition of macroeconomics is NOT TRUE A) Macroeconomic is a study about the behavior of the economy and analyses how the economy performs. B) Macroeconomic studies about how a consumer reacts to the fluctuation of price in his consumption. C) Macroeconomic analyses the indicator in line with the long-term economic objectives of the society or economy. D) Macroeconomic focuses on aggregate changes in the economy such as unemployment, the growth rate of the national output, inflation, and trade balance.Differentiate macroeconomics from microeconomics by citing instances in the various economic activities.I need help with both macroeconomics multiple choice question.
