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What are the main factors that created a sitaution of Stagflation in the 1970s within the US.
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- Can demand management policies be used to combat stagflation? Explain your answer.The table below shows information on aggregate supply, aggregate demand and the price level for the imaginary country of Xurbia. Price Level AD AS 110 700 600 120 690 640 130 680 680 140 670 720 150 660 740 160 650 760 170 640 770 Plot the AD/AS diagram from the data shown (Don't have to show graph but do draw it to help you answer the questions). a. Identify the equilibrium. b. Imagine that as a result of a government tax cut, aggregate demand becomes higher by 50 at every price level. Identify the new equilibrium. c. How will the new equilibrium alter output? How will it alter the price level? What do you think will happen to employment?What caused the sudden increase in aggregate demand for Juul products starting in July-2015?
- Using aggregate demand and aggregate supply, graph the effects on the price level and GDP of each of the following. Draw a large graph and label all axes, initial and final equilibrium points, direction of shift if any, all curves and lines, equilibrium values on the x- and y-axes. State the conclusion in words. a. A cut in income taxes b. An increase in military spending c. A drop in export demand by foreign purchasers d. An increase in imports e. A decline in business investment spendingWhat are the results of economic policies in Mexico and what do they look like in the short-run and long-run? Include an AD-AS Model graph that shows the results of your recommended economic policies.What were the causes and consequences of the Great Recession?
