Answered: Just true or false: There is general…

Just true or false: There is general agreement among Macroeconomists about how the macro economy works and how to fix problems when it doesn't.

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter5: An Introduction To Macroeconomics

Section: Chapter Questions

Problem 1TY

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True or false Macroeconomics deals with the economy as whole
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what are three macroeconomic issues that have been in the news or affecting economies recently?
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List four primary goals governments strive to achieve in order to improve a country's macroeconomy and briefly explain if these goals are all achievable.
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Analyzing Macroeconomic Events with the IS-MP Diagram. Consider the following events in the macroeconomy. Show how to think about them using the IS-MP diagram. For each, explain how and why GDP in the United States is affected in the short run and show how the central bank should respond if it wishes to stabilize output. (a) The government offers a temporary investment tax credit: for each dollar of investment that firms undertake, they get a credit that reduces the taxes they pay on corporate income. (b) A housing bubble bursts, so that housing prices fall by 20% and new home sales drop sharply. (c) A resurgence of growth in Japan leads to an unexpected increase in the demand by Japanese consumers for U.S. goods.
How relate with gdp can be reliable indicator of standard of living and use fiscal and monetary policy for current macroeconomic issues