Shift the AD curve on the previous graph to show the effects of a decrease in the money supply. Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. Based on the new price level, the new money supply must be $ the ad curve is downward sloping, velocity is assumed to be constant, trillion in the long run if the velocity of money remains at 3. less than the same as , the percentage decrease in the price level is greater than Because the federal reserve controls M money supply. This illustrates the fact that monetary policy can increase real GDP, Importance of the federal reserve, simple quantity theory of money the percentage decrease in the

Calculate the value of output in the given image

7. Suppose that in a country 10% of all females born die in infancy, 20% die at age 20, 15% die at age 30 and one-third die age 60. Women bear one child at age 25, one child at age 28, one child at age 32, and one child at age 35. One-half of children are girls. a. Compute the TFR and the NRR. b. Suppose that mortality is reduced so that there is no infant mortality, a third of all women die at age 20 and a third at age 30 and one-third at age 60. Compute the NRR. c. Suppose now that age-specific fertility changes, so that women have (on average) one-half child at ages 25, 28, 32, and 35. Compute the TFR and the NRR.

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