Directions: Answer ALL the sections below You are expected t

Directions: Answer ALL the sections below You are expected t.
Directions: Answer ALL the sections below You are expected to use your knowledge of Module 2 to answer these questions. You are NOT required to do research i.e hunt down data or statistics to answer any of these questions. In fact, I really don t want any statistics or data I want you to use the economic definitions and concepts from Module 2 & 3 to explain your answers. This project is intended to help you examine concepts you have studied in the textbook and videos, and apply these concepts to potential situations. Your graphs should be correctly labeled and support your answers. A correctly labeled graph or diagram must have all axes and curves clearly labeled and must show directional changes. Assume that the United States economy is operating below full employment. a)Define full employment hint this is what economist call the natural rate of unemploymentb)Explain why we expect to have some degree of unemployment regardless of how well the economy is doingc)Draw a correctly labeled graph of long-run aggregate supply, short-run aggregate supply, and aggregate demand, AND show each of the following when the economy is below full employmenti.Current equilibrium output and price level, labeled as Y1 and PL1ii.Full employment output, labeled as Yfd)Assume that the Federal Reserve targets a new federal funds rate to reach full employment. Should the Federal Reserve target a higher or lower federal funds ratee)Given the Federal Reserve action you identified in part (b), draw a separate correctly labeled graph of the money market and what the effect on the nominal interest ratef)Assume that policy makers pursue a fiscal policy rather than a monetary policy in (B). Assume that the marginal propensity to consume is 0.6, and the value of the recessionary gap is $400 billion.i.If the government changes its spending without changing taxes to eliminate the recessionary gap, calculate the minimum required change in government spending.ii.If the government changes taxes without changing government spending to eliminate the recessionary gap, will the required change in taxes be greater than, smaller than, or equal to the minimum change in government spending in part (Fi)? Explain your answer.g)Assume the government lowers income tax rates to eliminate the recessionary gap. Will each of the following increase, decrease, or stay the same. Explain your answers.i.Aggregate Demandii.Long-run Aggregate Supply.
Directions: Answer ALL the sections below You are expected t

Don't use plagiarized sources. Get Your Custom Essay on
Directions: Answer ALL the sections below You are expected t
Get an essay WRITTEN FOR YOU, Plagiarism free, and by an EXPERT! Just from $10/Page
Order Essay
Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.