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Category > Economics Posted 12 Jul 2017 My Price 8.00

ECON 214 PROBLEM SET 6

ECON 214 PROBLEM SET 6
1) Why is it possible to change real economic factors in the short run simply by printing and
distributing more money?
2) Explain why a stable 5% inflation rate can be preferable to one that averages 4% but varies
between 1–7% regularly.
3) Explain the difference between active and passive monetary policy.
4) Suppose the economy is in long-run equilibrium, with real GDP at $16 trillion and the
unemployment rate at 5%. Now assume that the central bank unexpectedly decreases the
money supply by 6%.
a. Illustrate the short run effects on the macro-economy by using the aggregate supplyaggregate demand model. Be sure to indicate the direction of change in Real GDP, the
Price Level and the Unemployment Rate. Label all curves and axis for full credit.
5) Suppose the economy is in long-run equilibrium, with real GDP at $16 trillion and the
unemployment rate at 5%. Now assume that the central bank increases the money supply by
6%.
a. Illustrate the short-run effects on the macro-economy by using the aggregate supplyaggregate demand model. Be sure to indicate the direction of change in Real GDP, the
Price Level, and the Unemployment Rate. Label all curves and axis for full credit.

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SuperTutor
(15)
Status NEW Posted 12 Jul 2017 06:07 AM My Price 8.00

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