PE19   Determine whether each of the following would cause the economy’s PPF to shift inward, outward, or not at all: An increase in average length of annual vacation An increase in immigration A decrease in the average retirement age The migration of skilled workers to other countries.

Explain the implication of convergence of relative prices after trade.

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Assume Morocco is currently operating with an unemployment rate six percent above its natural rate of unemployment. Draw a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and aggregate demand curves. Label the equilibrium price level PL1 and the equilibrium real output Y1. Label the full-employment level of output YF. Where on a production possibilities curve representing full employment in Morocco would current output be—on, outside, or inside the PPC? What can be assumed about inflation based on the information above? Assume that the output gap is estimated to be $156 billion and the government decides to take action. If the marginal propensity to consume is 0.75, by how much would it need to change government spending to close the gap? Show your work. If instead, government chose to use the income tax to close the output gap rather than changes in spending, calculate the change in tax revenue the government would need to close the gap.…

Don't use chatgpt   Q1. Why might international trade reduce measured inequality in the United States?  How has international trade contributed in economic growth for the U.S.A and other countries?

The data below are from the economies of Ishgandar and Nonburmia. Ishgandar         Nonburmia       Year Population GDP Deflator Nominal GDP Year Population GDP Deflator Nominal GDP 1 5 100 $200 1 10 100 $300 2 5 125 $375 2 10 110 $440 (e) Assume that in Year 1 Nonburmia is operating inside its production possibilities curve and that Nonburmia’s production possibilities curve remains unchanged from Year 1 to Year 2. As a result of the change in real GDP from Year 1 to Year 2, does Nonburmia’s economy move closer to or farther away from its production possibilities curve? Explain using numbers for real GDP and state what will happen to cyclical unemployment in the short run.

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GDP IS EQUAL A C+I+ G + NX B Y-G C C+I+G - NX D Y+I The PPF curve might be Bow shaped L shaed Dimiishing shaped U shaped

One indicator of an efficient macro allocation is the output valuenational economy produced in a certain period. This is because the amount of national output can indicate several important things in a national economy, including those related to the productivity of a country and how efficient the resources are in the economy to produce goods and services. In connection with this: a. Explain 3 methods of calculating national income. b. Explain why the Gross Domestic Product (GDP) of developing countries is greater than the Gross National Product (GNP)!