Question 6: (a) What is 'Business Cycle'? (b) What is the definition of: leading indicator, coincident indicator, and lagging indicator? Provide 2 examples of each leading, coincident and lagging indicatoke Click or tap here to enter text. (c) Define the three ranges of the aggregate supply curve in the AD/AS framework.
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- Economics 3040 Intermediate Macro HW4: An Adverse Demand Shock For all graphs label: both axis, all lines or curves, and all equilibrium values. Also be sure that the direction of shifts in lines and changes in equilibrium values are clear. Your graphs should be large enough to easily interpret. Turn in your graphs on paper at the beginning of the March 26th class meeting. (1) Sketch a graph of the goods market (AD-SRAS-LRAS) and a graph of the labor market with both markets initially in long run equilibrium. Label the initial values of real GDP, the price level, employment, and the nominal wage. Now show the effect of an adverse demand shock on both graphs and label the new values of all variables. (2) Sketch a graph of the goods market initially in a recession. Label potential real GDP, real GDP in the current recession, and the current price level. Also label the recessionary gap. Now show how an increase in government spending may end the recession. (3) Sketch a graph of the goods…Using graphical illustration of AS-AD framework, show the effects of following events on real output and price level in the economy.( D) The government raises taxes by $100 billion. (E) Government announces an interest rate cut to encourage business investment.Topic: macroeconomics, AD-AS Model What Is the Effect on AD? Determine the effect on the short-run aggregate demand (AD) curve for each of the following scenarios and Please Graphically illustrate answer for each # 1-5. 1. A decrease in consumer wealth is due to a plunge in stock prices. 2. Households and businesses have more optimistic expectations regarding future economic performance 3. There are higher levels of investment spending by businesses. 4. The government cuts taxes for households and businesses. 5. The Fed decreases the money supply.
- b. Is the World heading for a recession? Explain the conditions under which the world can be classified as being in a recession as COVID-19 persists. Explain linking the pandemic to the various stages of a recession.Using graphical illustration of AS-AD framework, show the effects of following events on real output and price level in the economy. (A) A wave of immigration increases the labor force. (B) An earthquake destroys some of the capital stock. (C) A technological advance improves the production. (D) The government raises taxes by $100 billion. (E) Government announces an interest rate cut to encourage business investmenAD-AS (aggregate demand/supply) Changes What things cause aggregate demand to shift? Why does each cause AD to shift? What things cause SRAS (short run aggregate supply) to shift What things cause LRAS (long run aggregate supply) to shift What graph/model does this relate to?
- 1. How many recessions did the US economy experience between 1929 and 2020? What were the four longest recessions between 1929 and 2019, not including the COVID-19 recession? What were the three deepest recessions between 1929 and 2019? That is, during which three recessions was the decline in real GDP biggest from peak to through? How long did the COVID-19 recession last?at hme jobs 2021 work from X CORA Expert Sign up- Chegg Ind x ia.com/%2Form:Subject_test?User Name%3D3709413000231567464&Number=8 Subject Test Note: - You are attempting question 9 out of 12 When does an economy experiences stagflation a) Falling prices and rising output b) Falling prices and falling output c) Rising prices and falling output d) Rising prices and rising output nswer O A Submit DELLPlease answer all parts of the question! Thank you! 1. Answer each of the questions completely. Make sure your example clearly demonstrates your understanding of each concept. (a) Describe the four shifters of Aggregate Demand AND provide an example of each (____/2) (b)Describe the three shifters of Aggregate Supply AND provide an example of each (____/1) (c) What shifters the Long-Run Aggregate Supply Curve? (____/1) (d) Explain what an Inflationary (Positive Output) Gap and a Recessionary (Negative Output) Gap are, including what happens to unemployment and output (____/2)
- Assume an economy operates in the intermediate range of its aggregate supplycurve. For each of the following changes in conditions, state the direction of theeffect on: aggregate demand, aggregate supply, price level, real GDP.(a) A decrease in government expenditure in infrastructure(b) A severe recession occurs in a country which has been a major importer of thenation’s exports.(c) The federal government increases business taxes with diagramHow would you draw an ADAS diagram showing an event that caused the aggregate demand to shift?( my example is how the federal government increased spending on national defense) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.2. An introduction to the AD-AS model The aggregate demand and aggregate supply model is a useful simplification of the macroeconomy used to explain short-run fluctuations in economic activity around its long-run trend. The vertical axis of a diagram of the aggregate demand and aggregate supply curves measures which of the following? An economy’s price level The amount of a particular representative good produced in the economy The price of a particular representative good produced in the economy Which of the following are reasons that the short-run aggregate supply curve slopes upward? Check all that apply. As the price level rises, firms expand their production because they can sell their output for more money. As the price level rises, firms find it more profitable to hire workers at any given wage. As the price level rises, firms decrease their investment because it is more expensive to purchase capital.