Which MOST likely will increase unemployment in the short run? a. a positive supply shock b. a positive demand shock c. expansionary fiscal policy d.stagflation
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- Which of the following fiscal policy actions would be appropriate if the economy is experiencing an recessionary gap? OA. a decrease in government spending B. a decrease in the money supply C. an increase in interest rates D. a decrease in taxesAssume an economy that is operating above full employment. Draw a correctly labeled aggregate demand and aggregate supply graph and show each of the following: a. The long-run aggregate supply curve. b.Current price level and output levels, labeled PLe and Ye c. Full employment output, labeled Yf 2. Identify one fiscal policy action that could resolve the problem. 3. Using your graph in question 1, show the short-run effects of the action you identified on each of the following: a. Aggregate demand. Explain (use the cause and effect chain you learned in the lesson) b. Output c. Price Level 4. Using a correctly labeled loanable funds graph, show the effect of the policy you identified in question 2 on real interest rates. 5. Given the change in the real interest rate in question 4. What is the impact on each of the following? a. Investment…Expansionary fiscal policy will ________GDP and ________ inflation. a. raise,lower b. lower,lower c. lower,raise d. raise,raise
- By decreasing government spending and aggregate demand, the policy ________ the price level and ________ equilibrium real GDP, ceteris paribus. Select one: a. decreases; increases b. increases; decreases c. increases; increases d. decreases; decreasesDuring recessions, taxes tend to a. rise and thereby increase aggregate demand. b. fall and thereby decrease aggregate demand. c. fall and thereby increase aggregate demand. d. rise and thereby decrease aggregate demand.Price Level Use this Figure to answer the following question LRAS PL₂ PL₁ Pho DE O a E₁ O b. Ej OC E₂ O d. Ez ₂ SRAS₁ SRASO AD₁ ADO Y, YY₁ RGDP Refer to the figure. If there is a positive cyclical unemployment, what will the new long-run equilibrium be if the government used a fiscal policy?
- Price Level p* a LRAS Y* AD Real GDP AS Tools Fiscal Action 0 a. How does the short-run equilibrium compare to the initial equilibrium? The price level has (Click to select) and output has [(Click to select) b. What is the primary concern of policy makers under these conditions? high unemployment O declining value of the dollar O high Inflation V c. What policy action might the government take in order to improve economic conditions? (Click to select) fiscal policy by [(Click to select) taxes and/or (Click to select)government purchases d. Use the graph above to depict the goal of the fiscal action discussed Instructions: Use the tool provided 'Fiscal Action' to show the result of the policy action taken by the government. Plot only the endpoints of the line (2 points total). Label your line appropriately. e. What is the desired final outcome after the fiscal policy action and multiplier effect have occurred? A price level [(Click to select) P* and an output level [(Click to select) Y*…If taxes are lowered, we can expect supply-side economists to support the decision to do so because a. government revenues will increase in the long run. b. government spending will decrease in the long run. c. the government will spend more in the short run. d. economic growth cannot occur without it.2. Assume that there is an increase in taxes Which determinant? A AD or A AS? P LRAS SRAS P₁ AD What happens to: Price Level Real GDP Inflation Unemployment Economic Growth Y YF
- The accompanying diagram shows the current macro- economic situation for the economy of Albernia. You have been hired as an economic consultant to help the economy move to potential output, Yp. Aggregate price level LRAS SRAS P1 E1 AD1 Real GDP Yp- Potential output a. Is Albernia facing a recessionary or inflationary gap? b. Which type of fiscal policy-expansionary or contractionary-would move the economy of Albernia to potential output, Yp? What are some examples of such policies? c. Illustrate the macroeconomic situation in Albernia with a diagram after the successful fiscal policy has been implemented.1. Based on the graph, Monaco is a. experiencing a recessionary gap b. experiencing an inflationary gap c. experiencing a deflationary gap d. currently at long run equilibrium 2. Which policy eliminates this phenomenon? a. An increase in the government purchases of goods and services b. A cut in taxes c. An increase in government transfers d. An increase in taxesTyped plzzzz And Asap I vll up vote and share positive feedback
