ONLY G and E Please! I put the other page on there with A-D only for reference to the economic situation. An economy is currently in a recession.inflatinLRPC(a) Draw a single correctly labeled graph with both the short-run and long-run Phillips curves. Label thecurrent short-run equilibrium as point X.NameSRPCUnemployment.(b) Is the expected inflation rate greater than, less than, or equal to the actual inflationrate? The expected inflation rate will beless than the actual inflahenrate(c) Will borrowers with fixed-rate loans benefit from the situation that you identified in part (b)?Explain. Borrowers with fixed rate loans will benefit from such situation...because the value of the iman will decrease with a lower Inflaten rale(d) Assume the government budget is balanced. In the absence of any discretionary policy action, willthe government budget move into surplus, deficit, or remain in balance?Explain. The government budget will remain in balance in the absence of-any discretionary policy.(e) On your graph in part (a), show how the economy will adjust in the long run in the absence of anydiscretionary policy action.(f) Now assume instead the government increases spending without changing taxes to close therecessionary gap. What effect will this policy have on the nationaldebt?An increase in government spending without changing faxes willcause the national debt to increase An economy is currently in a recession.inflatinLRPC(a) Draw a single correctly labeled graph with both the short-run and long-run Phillips curves. Label thecurrent short-run equilibrium as point X.NameSRPCUnemployment.(b) Is the expected inflation rate greater than, less than, or equal to the actual inflationrate? The expected inflation rate will beless than the actual inflahenrate(c) Will borrowers with fixed-rate loans benefit from the situation that you identified in part (b)?Explain. Borrowers with fixed rate loans will benefit from such situation...because the value of the iman will decrease with a lower Inflaten rale(d) Assume the government budget is balanced. In the absence of any discretionary policy action, willthe government budget move into surplus, deficit, or remain in balance?Explain. The government budget will remain in balance in the absence of-any discretionary policy.(e) On your graph in part (a), show how the economy will adjust in the long run in the absence of anydiscretionary policy action.(f) Now assume instead the government increases spending without changing taxes to close therecessionary gap. What effect will this policy have on the nationaldebt?An increase in government spending without changing faxes willcause the national debt to increase

G. The loanable funds market is a macroeconomic concept that illustrates how borrowers and lenders…

(g) Draw a correctly labeled graph of the loanable funds market and show the effect of the change in the national debt on the equilibrium real interest rate. (h) Based on the change in the equilibrium real interest rate identified in part (g), what will happen to economic growth in the country in the long run? Explain.

(g) Draw a correctly labeled graph of the loanable funds market and show the effect of the change in the national debt on the equilibrium real interest rate. (h) Based on the change in the equilibrium real interest rate identified in part (g), what will happen to economic growth in the country in the long run? Explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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