The COVID-19 pandemic has substantially affected the Canadian economy in several dimensions.As the Canadian governments, both federal and provincial, have issued various forms of "stay home"instructions, workers have to work from home. Working from home has two effects: firms are nowless productive and hence the current TFP z declines; labor supply Ns (r) declines. In addition,consumers can only go grocery once a week and hence consumption demand Cd (r) declines for anylevel of interest rate and income. Answer the following questions.1.Use a real business cycle model that we studied in Chapter 13 to analyze theimpact of Covid-19 in terms of output, employment, consumption, investment, wage, interestrate, money demand, and price. Make sure you show three figures: A figure illustratingthe goods market, a figure illustrating the labor market, and a figure illustrating the moneymarket. (In this question we assume that the change in output supply dominates the changein output demand, and the change in labor demand dominates the change in labor supply.)

The objective of the question is to analyze the impact of Covid-19 on the Canadian economy using a…

Answered: The COVID-19 pandemic has substantially…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Socioeconomic impacts of COVID-19 – can globalization prevail in the face of the impeding recession?As the COVID-19 crisis continues to deepen, the significant health and economic consequences of this disease is crippling even the most developed nations. With < 0.5% of globally confirmed cases occurring in Africa, the continent appears so far to be relatively spared the untoward direct health consequences of the COVID-19 pandemic. The disease nonetheless has already had a destabilizing effect on the lives of millions of Africans with disproportionate impact on the poor and underserved. The interconnectedness that characterizes globalization has brought economic benefits to many African countries. With COVID-19, there have been disruptions in Africa’s global supply chains in the face of tumbling oil prices and a lowered global demand for African non-oil products, which constitutes a threat to the economic stability of the continent. Projected losses from oil shocks alone may result…
Piracy, the unauthorized use of IPR, is a critical issue in the entertainment industry. Several file-sharing services—USENET, BitTorrent, and Limewire—enable users to download movies, TV programs, and music virtually for free. A predominant way in which firms have taken action against file-sharing is through Digital Rights Management (DRM), which includes several technologies that curb the usage of digital content. DRM has been the object of severe criticism, targeted for everything from harming legitimate users to preventing viral marketing and presenting a powerful obstacle to free trade. What is worse is that most DRM systems have been cracked quite easily. Considering both the ease of piracy and the relative failure of preventive measures, how should media firms safeguard their IPR and secure their profitability? Should they seek other IPR technologies? Should they aggressively seek and bring offenders to trial? Or are there ways in which firms can make profit while allowing open…
propose 3 solution that you think might assist policymaker and internal or external stakeholder to recover the economy due to the covid-19 pandemic.
During the COVID-19 Lockdown in May, many rickshaw-pullers left the market of rickshaw-rides and went to their village homes to pursue other work. What can you conclude from the given information?Discuss all conclusions in detail.
QUESTION 9 Currently internet scammers steal an estimated $81million per year from the Australian public. While the majority of the scammed funds leave Australia, around 30% of the stolen funds remain in the country. The Australian government has decided to add a specialised task force to the current government program to tackle internet scammers. This will increase the cost of the program from $1.5million per year to $2.5million per year. The additional resources are expected to reduce the amount of scams on the Australian public by an estimated $1million per year. What is the net social benefit resulting from the added specialised task force? = $ million. Provide a detailed explanation of the considerations in your decision. What are the implications of this policy from an ethical and social perspective. Provide a detailed answer in your spreadsheet = Provide a detailed explanation of your approach to this question in your spreadsheet.
Therefore, the farm must produce 80,000 - 40,000 = 20,000 fewer tons of D1 durians in 2023. Why is 80,000-40,000=20,000? not equal to 40,000?
Critically evaluate the determinants of supply that have been affected by the COVID-19 pandemic. In your response, analyse the factors that led to the shifts in supply (production and distribution) of goods and services. Consider the impact of government policies on the market supply, such as lockdowns and stimulus measures, and provide examples from specific industries or countries.
Identify ONE government policy implemented by the government in Trinidad and Tobago to deal with the decreased economic activity due to COVID-19. What was the aim of the policy?
Takaful and Karama is a social program that has been launched by the Egyptian government in 2015 to support the disadvantaged and most vulnerable families and elderly citizens. The part of the program that is directed to support families represents a conditional cash transfer that requires families to keep their children in school until they are 18 years old and follow up visits to local health care units to be eligible for receiving the cash transfer. Amira is an Egyptian ten years old child from a poor family who has previously dropped out of school. To be eligible for the fund, her mother enrolled her in school again. Amira is expected to remain in school until she is 18 years old. a) Explain, with the support of illustrative charts, the impact of Amira's returning to school until she is 18 on her potential life earning stream. b) How will that social program impact the national human capital of Egypt in the future, and specifically the characteristics of the Egyptian national…
Given the following demand and supply functions for the cobweb model, find theintertemporal equilibrium price and determine whether the equilibrium is stable.
Consider the market for trees in a public park. These trees are a public good that give benefits to multiple groups of people, as described below. Each Marginal Willingness to Pay curve represents the aggregation of all the individuals in that group, and those groups make decisions collectively. Additionally, the cost of planting trees is given. Consider Q to be the number of trees in the park. Note that no one is ever worse off from additional trees. Arborists: MWTP = 2000 – 5Q Total WTP = 2000Q - 2.5Q2 Environmentalists: MWTP = 1500 – 10Q Total WTP = 1500Q – 5Q2 Casual Park Visitors: MWTP = 800 – 10Q Total WTP = 800Q – 5Q2 Park Haters: MWTP = 500 – 50Q Total WTP = 500Q – 25Q2 MC = 1400 Total Cost = 1400Q (a) If the government does not intervene into the market, how many trees will be planted? (b) What is the socially…
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