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- According to Keynes, what are the three reasons individuals hold money? Provide a brief explanation of each.
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- Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. The economist proposes the following relationship: P=A×MP=A×M • P=Price LevelP=Price Level • M=Money SupplyM=Money Supply • A=A composite of other factors, including real GDP, that change very slowly over time.A=A composite of other factors, including real GDP, that change very slowly over time. How might an economist gather empirical data to test the proposed relationship between money and the price level?Why do Keynesian economists believe increasing the money supply is a good idea? Use the equation of exchange in your answer.Why is there a proportional relationship between the money supply and the price level?
- Hello, I need help with a macroeconomics question. Thank you in advance! The answers are based on a short exerpt from the Federal Reserves press release from Feb 1, 2023 (attatchde below). 7. What do you expect to happen to the money supply? 8. What do you expect to happen to the inflation rate? 9. How would you expect all these decisions to affect employment in the economy? 10. How do the effects you found on 8 and 9 align with what the Fed was hoping to attain?How does an increase in economic activity affect the money demand curve?A friend of yours expresses the opinion that the only resource that is important in the macroeconomy is money. He says, “The more money an economy has, the richer it is.” How would you respond?
- The mandate of the South African Reserve Bank (SARB) states that “the Reserve Bank is required to achieve and maintain price stability in the interest of balanced and sustainable economic growth in South Africa”. There are several macroeconomic determinants that in many ways affect the outlook of the economy, such as inflation, growth, interest rates, unemployment and exchange rates. There has been an ongoing conversation among economists and politicians about the mandate of the SARB. Do you think that the mandate of the SARB should change? Support your view.Why do Keynesian economics believe increasing the money supply is a good idea? Use the equation of exchange in this answer.Deriving the aggregate demand curve from the quantity equation of money allows the aggregate demand curve to be written as P = MV / Y. If V = 3, and M = 1,000, then P = 3,000 / Y, and the slope of this function is:
- Economist will focus on achieving macroeconomic goals. There are four major economic goals namely as full employment, price stability, economic growth and equitable distribution of income. However, it is impossible for a government to achieve all four macroeconomic goals simultaneously. Briefly discuss how a government will not be able to implement two particular goals at the same time. According to Keynes, people have demand for money due to three different motives foe holding money rather than other forms. Hence, identify the THREE (3) motives according to Keynesian approach."According to Keynesian theory, an increase in the money supply can cause interest rates to fall without affecting nominal income. In this case, how does the velocity of money change? Explain and demonstrate using the money market graph."How does the changes of interest rate(Monetary Policy) affect consumption?