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- 1. This assignment further explores how demand and supply shocks effect the equilibrium price in a market. Imagine that the market for acoustic guitars is described by the following demand and supply curves: Qa = A - P Qs = B + SP a. Find the equilibrium price and quantity in the market. b. Form the inverse supply and demand functions and, Interpret the terms A and -B/8. f. Where A > 0, B 0. C. Explain why the emergence of a market for guitars requires the following: A> -B/8 > 0. d. Interpret the parameter & and, provide examples of when it is low or high. e. Suppose that master guitarist Julian Lage gives a performance that goes viral on YouTube. His amazing virtuosity sparks a massive increase in the demand for guitars. How would this shock be captured by the parameter A. Draw the supply and demand curves before and after the shock and show how the equilibrium changes. Based on your graph what, if anything, can you say about how the equilibrium price and quantity change? Now let's…Explain the dynamic effect by taking "Oil Prices and Inflation" as an example?Explain the concept of excess demand in macroeconomics. Also, explain the role of open market operation in correcting it. (Kinly explain with diagram)
- Explain the Friedmanian model of NAIRUSa mework 3 7 nts As: MX References The Mu Mc Graw Hill Type here to search (po pa P Ge ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launch Url=https%253A%252F%252Flms. O II Tu We J Ba units C Sch ADVANCED ANALYSIS Assume that demand for a commodity is represented by the equation 1 P=100-3Qa Supply is represented by the equation P= -10 +3Qs) where Quand Qs are quantity demanded and quantity supplied, respectively, and Pis price. Instructions: Round your answer for price to 2 decimal places and enter your answer for quantity Using the equilibrium condition Qs = Qd solve the equations to determine equilibrium price and Equilibrium price = $ Equilibrium quantity = FSA FA < Prev Saved 05 ho 7 of 25 L H www P NexPlease answer the following question: 1. Economic advisors who fear that economy is growing too rapidly and that inflation may accelerate to high levels whould recommend that the government decreases spending/or increase taxes. a) True b) False
- What role does the government, both the fscal authority and themonetary authority, play in recessions and booms and in determining therate of infation?1. a. How has the high unemployment rate become a macroeconomic issue during the covid-19 pandemic? b. what specific government post covid-19 policies can be implemented to alleviate high unemployement rate c. Explain your rationale for the choice of policies in (b) (Please provide relevant graphs with ansewers)O upp.eduiastic.com/student/ássessment/6081aea8213e430008f3ad18/class/611d518243c10fo0099843cf/uta/619b8b17a411c ols.org bookmarks e Your Eighty Dollar…. sds Question 22/28 > NEXT I BOOKMARK Supply-side egonomists argue that Supply and secure economic prosperity. on businesses (or producers) are the surest way to increase Aggregate A Tax cuts B Tax increases Spending cuts D Spending increases DELL & 7 8 9. 1 4. W e r y W # 个
- What is supply side economics and what is the general assessment of the efficacy of supply-side economics?1. a. How has the global supply chain become a macroeconomic issue during the covid-19 pandemic? b. what specific government post covid-19 policies can be implemented to improve the global supply chain c. Explain your rationale for the choice of policies in (b) (Please provide relevant graphs with answers)37.6% R Give Up? O Hint ment Score: Resources Chec on 5 of 15 <. In 2013, Prussia's aggregate demand curve was determined by the equation M +0= 4%. A change in aggregate demand means that in 2014, Prussia's aggregate demand curve was determined by the equation M +6= 7%. Using this information, draw Prussia's old and new dynamic aggregate demand curves on the graph. Which of the factors could have resulted in the change in 14 aggregate demand seen between 2013 and 2014? 13 O an improvement in technology 12 11 an increase in imports 10 a decrease in oil prices 8. AD 2013 O higher consumer confidence 7. 5. -3 -2 -1 3. 6. 10 Real GDP growth rate F12 AD 2014 4. 6, 4. Inflation rate