Please answer the second question PRICE LEVEL110907050AD2822LAS20242630OUTPUT (Trillions of dollars)to the natural level of output, givenSuppose that in May 2023, policymakers undertake the type of policy that is necessary to bring the economy bacthe scenario just described. In September 2023, imports decrease, because the United States has implemented trade restrictions on French goods.Because of theassociated with implementing monetary and fiscal policy, the impact of the policymakers' stabilization policyonce the effects of the policy are fully realized.will likely Homework (Ch 23)1. Use of discretionary policy to stabilize the economyShould policymakers use monetary policy, fiscal policy, or both in an effort to stabilize the economy? The following questions address the issue of howmonetary and fiscal policies affect the economy and the pros and cons of using these tools to lessen economic fluctuations.The following graph shows a hypothetical aggregate demand curve (AD), short-run aggregate supply curve (AS), and long-run aggregate supply curve(LRAS) for the economy in May 2023. According to the graph, this economy is in an expansion To bring the economy back to the natural levelof output, the Federal Open Market Committee (FOMC) could use a contractionary monetary or fiscal policy such as buying bondsShift the appropriate curve on the following graph to illustrate the effects of the policy you chose.150LRASAD--AS>6:354/29/2130110aAS→O0

It is a term used in economics to describe a recession that affects a specific geographic area. For…

Suppose that in May 2023, policymakers undertake the type of policy that is necessary to bring the economy back to the natural level of output, given the scenario just described. In September 2023, imports decrease, because the United States has implemented trade restrictions on French goods. Because of the associated with implementing monetary and fiscal policy, the impact of the policymakers' stabilization policy will likely once the effects of the policy are fully realized.

Suppose that in May 2023, policymakers undertake the type of policy that is necessary to bring the economy back to the natural level of output, given the scenario just described. In September 2023, imports decrease, because the United States has implemented trade restrictions on French goods. Because of the associated with implementing monetary and fiscal policy, the impact of the policymakers' stabilization policy will likely once the effects of the policy are fully realized.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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