Answered: The time it takes for a policy to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Discuss the impact of increase in economic resources on the Relative SupplyCurve (i.e. cheese) in the Ricardian model?
In one of your lectures, you heard your teacher saying that the government of a country is usually a net demander of funds. You felt extremely disappointed to know this and wanted to tell your teacher that he may be incorrect in his assertion. After all, the government pays salaries to so many people in the public service. It also takes care of the citizens through numerous projects like roads, hospitals, schools, utilities like electricity and water and many more public welfare activities. In a way therefore, the government releases funds in billions of dollars so that the country can run efficiently and productively. In your opinion the government supplies more than it takes. Your teacher Dr. B appears to be an arrogant man and you would rather discuss this confusion with one of your classmates whom you are close with and whom you think has a natural aptitude towards economics and finance. His name is Gordon. Briefly narrate how Gordon would remove your confusion.
Household behavior that is not responsive to budget deficit policies is a concept put forward by... a) Keynesian b) Neoclassical c) Ricardian d) Intermediate
Summarize your views on whether a glut or overproduction -excess supply of all goods in an economy- is possible or not. Refer to economists in the 18th and 19th centuries. hello can you help me? I need a short explanation(a few sentences). thanks.
A budget expresses management's objectives and goals in financial terms. It can be used for all of the following except: a. to establish standards or targets for dollar expenditures. b. to provide a standard against which expenditures can bemeasured. c. to establish flexible spending parameters for controllable expenses. d. to establish limits for expenditure, and thus to restrict the amounts that can be spent for particular purposes..
John Maynard Keynes would agree most with which of the following statements? A. Tax breaks to large corporations will encourage an increase in production. B. The government should focus on long-run productivity. C. We should focus on the short-run state of the economy as opposed to the long-run. D. While fiscal policy can be useful, the costs greatly exceed any benefit.
Suppose that the government wants to achieve higher output level and lower unemployment rate at the same time. Which policies can be used to achieve these two objectives at the same time? Explain clearly and show on the graph.
Active policy making refers to nondiscretionary policy making. relying on policies that act as automatic stabilizers. actions taken by policy makers in response to or in anticipation of some change in the overall economy. policy making that is carried out in response to a rule.
The broken window fallacy a. explains why inflation is so high.b. is a justification for the government to print more money.c. is illustrated when a government program is justified not on its merits but on thenumber of jobs it will create.d. has nothing to do with public policy.
In a country : The Federal Government allocates 25% of its Federal Budget towards enhancing the Factors of Production – this includes capital, labor, and technological advancements. The Federal Budget for the fiscal year is $4 trillion. The Federal Reserve System decides to increase the monetary base by 10% to stimulate the economy. A federal tax of 20% is imposed on corporate profits. A particular company, Y Corp, uses the Fee-for-Service model and made a profit of $10 million this fiscal year. Questions: a) How much has the Federal Government allocated to enhance the Factors of Production? b) After the Federal Reserve System's intervention, if the original monetary base was $M trillion, what is the value of $M? c) How much federal tax does Y Corp have to pay?
Revenue expenditure reduces the assets of the government true/false
Economics True or false 6. Woods notes that many view the late 1870s as depressionary because prices were falling even though the available data show output rising. 7. The "forgotten depression" occurred in 1920- 1921. 8. Well-known economist Irving Fisher accurately predicted the stock market crash that led to the Great Depression. 9. Woods argues that the available weight of evidence shows clearly that President Hoover was a "laissez-faire" president. 10. Surprisingly, before the Great Depression was over we had another depression (or, recession) in 1939.

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The time it takes for a policy to influence the economy once it has been enacted is called​ the: A. effectiveness lag. B. legislative lag. C. recognition lag. D. implementation lag. E. data lag.

The time it takes for a policy to influence the economy once it has been enacted is called the: A. effectiveness lag. B. legislative lag. C. recognition lag. D. implementation lag. E. data lag.