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How independent is the Federal Reserve? Based on the experiences of the Fed in the U.S., as well as other central banks, do you believe that the Fed should be independent? Provide both pros and cons
Discuss the reasons behind the decline in traditional banking and consolidation of the banking sector in the United States since the 1980s.
a. Find the level of aggregate output, Y , for this economy. b. Find the level of consumption spending in this economy. c. Find the level of private saving, SP , for this economy.
At the end of the Cold War, the US government was able to reduce government spending on the military by 2% of GDP. Consider the two following plans for reallocating this money:
What was the growth rate for real GDP between 2000 and 2001? Express your answer as a percentage.
Suppose you are analyzing the state of your country's economy using a Classical Model. You know what the labor market looks like and you also know your country=s aggregate production function.
If everything else about these two economies is the same (except for their MPCs), then which one will experiences a larger change in GDP as a consequence of the tax cut? How much larger is the
Which of the following is most likely to contribute to the growth of a poor country? a. Rapid population growth. b. An increase in money supply. c. Secure property rights and political stability. d. E
Suppose that the base year is 1989. The government announces that the growth rate of Real GDP was 20% from 1989 to 1990. Assume the population in Tech-Land is 10 in 1989 and in 1990.&nbs
The three main goals of government macroeconomic policy are: a. Price stability, low unemployment, and high growth rates of output b. Zero inflation, zero unemployment, and high standards of living. c
All of the following would tend to increase a nation’s production possibilities EXCEPT: a) The culture becomes more accepting of women who work. b) A new hybrid for wheat is discovered. c) A gov
In the short-run macro model, an open market purchase of bonds by the Fed will a. raise the interest rate, reduce spending, and increase output. b. raise the interest rate, reduce spending, and
Which of the following statements is NOT TRUE about the employment of resources in the country of Myland?
The income of Americans working abroad is greater than the income of foreigners working in the US. Therefore the GDP of the US is ___ its GNP.
Transfer programs cost the government $200. Under the assumptions of the classical model, what was the value of capital inflows in Bruinville last year?
a. What is the unemployment rate of Badger Land? b. What is the labor force partic ipation rate in Badger Land?
Suppose the money market in Zooland is in equilibrium. What is the initial equilibrium level of interest rate in Zooland?
a) What is the size of the labor force in Madison in 2008? b) What is the employment rate in Madison in 2008?
Given this tariff, calculate the values of consumer surplus, producer surplus, government revenue, and the deadweight loss due to the tariff.
During the recent financial crisis, many economists disagreed about whether or not the government bailout was a good idea. Economist A supports a bailout “to reduce strain on the credit market
The following is From Elements of Political Economy, Chapter III, Section IV, by John Stuart Mill. First published 1821: If two countries can both of them produce two commodities, corn, for example,
Question 1. Which one of the following is counted in GDP for the United States? a. Cars produced at Toyota's plant in Indiana. Toyota is a Japanese company. b. Cars produced by the American company Fo
Suppose that the world price of bananas is $8 per unit of bananas and this economy opens to trade. Provide a numerical measure of this country's imports or exports of bananas once the market is open
a. Calculate the initial value of government savings, Sg. b. Calculate the initial value of capital inflows for this economy.
Calculate the value of government savings (Sg)? Is the government running a budget deficit or a budget surplus? Show how you got your answer.