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A: Note: As per the guidelines we will answer only three subparts. Please resubmit the question again…
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Q: Using graphical illustration of AS-AD framework, show the effects of following events on real output…
A: (Note: Since your question has multiple parts, the first three have been solved. Please resubmit the…
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A: Productivity growth is considered to be one of the most important factors in the AD/AS model because
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Use the AD‐AS model graph to explain how the government can increase
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- We learn to see economic expansion as natural and good. When the economy stays the same for a number ofmonths, we say we are experiencing “stagnation.” How do we define a period when the economy gets smaller,as happened during the fall of 2008?Explain why a policy mix would result in growth in GDP.What is the relationship in the growth rate of output and government spending in the graph?
- For a high-income economy like the United States, what element of the aggregate production function are most important in bringing about growth in per capita GDP? What about the middle-income country such as Brazil? A low-income country such as Niger?Explain why the growth rate in GDP in current prices does not provide information about how quickly the economy is really growing.The following table shows macroeconomic data for a hypothetical country. All figures are in billions of dollars.
- Go to these links: https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?end=2018&start=2000 https://data.worldbank.org/indicator/NY.GDP.DEFL.ZS?end=2018&start=2000 Choose the time range from 2010 to 2018. Pick one country and calculate real GDP for this country using the statistics for each year from the links. Discuss why real GDP is more appropriate for the economic analysis.Stagflation and recession are increasingly being used to describe where the economy might be headed. The World Bank warned on 14th June 2022, that global economies were at risk of stagflation if not recession. "The world economy is again in danger," David Malpass, president of the World Bank, said in the latest edition of the Global Economic Prospects report. "It is facing high inflation and slow growth at the same time. Even if a global recession is averted, the pain of stagflation could persist for several years - unless major supply increases are set in motion. Explain the main differences between stagflation and recession, if we had to face one, which one would be less painful?When actual GDP does not rise as fast as potential GDP, the economy most likely will experience inflation recession economic growth falling unemployment
- Illustrate the transition of an economy to the steady state in a diagram, and explain it in words. Hint: Consider what would happen with capital per worker and output per worker if the economy was to the left or to the right of the steady state in a diagram.What is the central economic idea humorously illustrated in Art Buchwald’s piece, “Squaring the Economic Circle”? How does the central idea relate to recessions, on the one hand, and vigorous expansions, on the other?то Part 4: Complete the table using the 2 countries you selected and the "People and Society" page of The CIA World Factbook Country 1: Birth Rate: Death Rate: EA TOUR Germany Infant Mortality Rate: 9.08 births/1,000 population (2022) 3.19 deaths/1,000 live births Life Expectancy: 11.98 deaths/1,000 population (2226 81.51 years Youth Dependency Ratio: 21.7 Elderly Dependency Ratio: Median Age: 47.8 years 33.7 Mother's Mean (average) Age at First Birth: 29.9 years (2020 est.) Country 2: Contraceptive Prevalence Rate (the percentage of women 18-49 who use or whose partner uses contraceptives): 67% (2018) Birth Rate: Part 5: Answer the following questi Death Rate: Japan 6.95 births/1,000 population (2022) 11.59 deaths/1,000 population (20zz) Infant Mortality Rate: 1.9 deaths/1,000 live births Life Expectancy: 84.83 years Youth Dependency Ratio: 21 Elderly Dependency Ratio: 48 Median Age: 48.6 years Mother's Mean (average) Age at First Birth: 30.7 years (2018 est.) Contraceptive Prevalence…