### Question 8 on Active Economic Policies **Question:**Active approach/policy includes all of the following, except _______.- Economic fluctuations- Government intervention- Self-correcting forces- Discretionary policies**Explanation:**In the image, there is a multiple-choice question related to economic policies. This question is important for understanding the mechanisms countries use to manage their economies during different phases of economic cycles. Let's analyze each option:1. **Economic fluctuations:** These are oscillations in the economy that occur as a result of changes in demand and supply levels in the market. They are typically characterized by periods of economic expansion (growth) and contraction (recession).2. **Government intervention:** Refers to the actions taken by the government to influence economic activity. This includes monetary policy actions by central banks, fiscal policies such as tax cuts or increased government spending, and regulations.3. **Self-correcting forces:** These are natural economic mechanisms that work towards bringing the economy back to its long-term growth path without the need for government intervention. This would include the way prices adjust in response to economic imbalances.4. **Discretionary policies:** These policies are actions taken by the government to stabilize the economy. These could include changes in taxes or government spending, which are decided on a case-by-case basis rather than being pre-determined by law.**Graph/Diagram Explanation:**There are no graphs or diagrams present in this image. The image displays a screenshot from a computer that shows a section of an economic questionnaire.**Additional Information:**The weather is also displayed at the bottom left of the screen, showing "101°F, Sunny." This information is not directly relevant to the question but indicates the conditions during which the screenshot might have been taken.### How to Study for Similar Questions:- **Understand Key Economic Concepts:** Ensure you have a solid grasp of terms like economic fluctuations, government intervention, and discretionary policies.- **Analyze Past Economic Policies:** Look at historical examples of when and how governments have intervened in the economy.- **Practice Critical Thinking:** Learn to differentiate between concepts that are interrelated and those that are distinct or oppositional.- **Review Study Material Consistently:** Regularly go over your notes and textbooks to reinforce your understanding of economic policies and their applications.

Active approach; This approach veiw economy as relatively unstable, and there is a need for…

Answered: estion 8 Active approach/policy…

Business

Economics

estion 8 Active approach/policy includes all of the following, excep Econom

Economics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506725

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

ChapterST5: The Great Recession Of 2008-2009: Causes And Response

Section: Chapter Questions

Problem 4CQ

See similar textbooks

Similar questions

Question 1 Classify the following as microeconomics or macroeconomics and provide a justification for your choice. Parliament is debating the option of implementing a Value Added Tax (VAT) as a means to cut the government deficit. Choose... Choose... The effect of government spending on the nation's unemployment rate. Micro, examining one firm in the economy Macro, examining the entire economy. Micro, examining one sector of the economy The Bureau of Labour Statistics projects a 22.5% increase in the number of workers in Choose... the healthcare industry from 2008 to 2018. A firm's decision about how many workers Choose... to hire Please answer all parts of the question.
please read the question carefully. you dont need to answer the numbered questions, they are only topics that we learned so far in the course. Give an example of a concept learned in this course that you think may be associated with strong macroeconomic performance. the list below is what we learned so far. Explain why this is the case. Use real-world examples and explanations. lists of concepts we learned: Describe economics and the economic way of thinking. Identify the components of an economic theory. Define scarcity. Explain opportunity cost and the rationale for choice. Define a market and competitive markets. Describe demand and the concept of demand, individual demand and the demand curve. Explain a change in demand versus a change in quantity demanded. Define supply and the concept of supply. Describe a change in supply versus change in quantity supplied. Illustrate and explain and illustrate how markets reach equilibrium price and quantity.
Economics please provide answer for question 2 and 3. Thanks Discuss the following questions in 3-5 paragraphs overall: (1) Why/how has Covid-19 led to a global economic recession? (2) While the originating place of Covid-19 was China, why do you think Western countries have experienced a sharper economic recession than China? (3) As per the definition(s) of recession that we discussed in Chapter 13, do you think Afghanistan is currently in a recession?
Question one: According to classical economic theory, there is an invisible hand in the economy. What is it? And why did economies stop believing in such theory?
Question 3 on Topics 6 & 7 COVID-19 has sent the economy of Classica into recession. The finance ministry has advised the government to lower stamp duty and other purchase service charges for those wanting to buy existing houses in order to boost economic growth. As well, the finance ministry wants the government to also cut company taxes as this will lead to firms increasing their level of investment in the economy. The President of Classica has asked you, as her chief economic advisor, for your views. In particular, she wishes to know the following: Would a cut in stamp duty and other purchase charges on the purchase of existing houses really boost the economy? Your advise on this is ____________________ (provide your answer and justification on both the immediate and future impact. Feel free to use external resources to assist you in your answer if you prefer). Is the claim that lower company taxes adding to…
11// Which of these statement is accurate about the study of macroeconomics? a.how consumers use scarce resources to satisfy unlimited wants b.how consumers use unlimited resources to satisfy limited wants c.how firms use unlimited resources to satisfy unlimited consumer wants d.how consumers use unlimited resources to satisfy their unlimited wants
Instructions:The economic ideas of two the most influential economists: John Maynard Keynes and Frederic von Hayek have a significant impact on the US economy and the entire global economy. They had very different views about a free market economy and the role of the government. Even though they had arguments in 1930s, their ideas still affect our contemporary economic systems. The relevance of their views will be debated in the video: Fear The Boom and Bust": Keynes vs Hayek Rap Battle. Two models below represent John Maynard Keynes and Frederic von Hayek concepts of aggregate-demand (AD) and aggregate-supply(AS) of the nation’s economy. Once you’ve watched the video and read Chapter 32: Aggregate Demand and Aggregate Supply, then answer the questions that follow. The following links provides a two-minute videos about demand-pull inflation, cost-push inflation, recession, short-run period, and long-run period. http://welkerswikinomics.com/blog/2011/04/08/1643/ Figure 1: Hayek’s…
what are three macroeconomic issues that have been in the news or affecting economies recently?
Problem 12-03 (algo, with video solution) Given below are data on real GDP and potential GDP for the nation of Anaziland for the years 2009-2013, in billions of 2009 currency. For each year, calculate the output gap as a percentage of potential GDP and state whether the gap is a recessionary gap or an expansionary gap. Also calculate the year-to-year growth rates of real GDP. Instructions: Enter your response as a percentage rounded two decimal places.If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. ces Year 2009 Real GDP Potential GDP Output gap Type of gap Growth rate of real GDP 13,250 13,660 % (Click to select) ✓ 2010 13,990 13,300 % (Click to select) 2011 14,450 13,400 % (Click to select) % 2012 13,880 14,060 % (Click to select) 8 2013 14,080 14,500 % (Click to select) 8 Recessionary gap is identified during O 2009; 2012-2013 O 2009-2010; 2013 O 2010-2011 O 2011-2012
Which question is an example of a microeconomic question? A. What should the Federal government do to reduce the trade deficit with Japan?B. Will the merger of two airlines likely lead to higher cost of air travel in the economy?C. What factors are contributing to the steep rise in the federal government's total debt?D. Will the inflation rate remain relatively stable this year?
The current Ukraine-Russia War threatens the prosperity of the global economy, and as such, the UK economy. You are working as an Economist for the HM Treasury and a panel of Members of Parliament have asked you to provide guidance on the current situation of the economy and potential demand side and supply side policy interventions to stabilise the economy. Using economic theory, answer the following: a. Discuss how this global event, outlined above, could cause actual growth to deviate away from its potential output in the UK. Why could it be suggested that there maybe longer run impacts to the UK's productive capacity? b. To what extent could deviations in UK real output and the interest rate cause changes in the equilibrium and disequilibrium level of unemployment?
The current Ukraine-Russia War threatens the prosperity of the global economy, and as such, the UK economy. You are working as an Economist for the HM Treasury and a panel of Members of Parliament have asked you to provide guidance on the current situation of the economy and potential demand side and supply side policy interventions to stabilise the economy. Using economic theory, answer the following: a. Discuss how this global event, outlined above, could cause actual growth to deviate away from its potential output in the UK. Why could it be suggested that there maybe longer run impacts to the UK's productive capacity? b. To what extent could deviations in UK real output and the interest rate cause changes in the equilibrium and disequilibrium level of unemployment? c. "Any volatility in output and unemployment because of the War would be due to slow market adjustment. Domestic policymaking should be focussed towards re-correcting any longer run rigidities over short run demand…