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Question;1.;What impact would a change that shifts an economy's production possibilities;curve outward have on the long run aggregate supply curve? How have;improvements in computer technology affected production possibilities and the;long run aggregate supply curve? Explain2.;Construct the AD, SRAS, and LRAS curves for an economy experiencing;(a);full employment, -figure A;(b);an economic boom,-figure B;and (c) a recession- figure C3.;What is a budget deficit? How are budget deficits financed? Why do Keynesians;believe that budget deficits will increase aggregate demand?;4. When output and employment slowed in early 2008, the Bush Administration and;the Democratic Congress passed a legislation sending households a check for;$600 for each adult (and $300 per child). These checks were financed by;borrowing. Would a Keynesian favor this action? Why or why not?

 

Paper#57978 | Written in 18-Jul-2015

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