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Why is growth in GDP different from growth in a nation's standard of living? Is it possible for a nation's GDP to grow while its standard of living falls?

English is not my mother tongue please excuse any errors on my part. I live in Europe and in my country we have conservative and social political parties. When I looked through economic precedences, there was mentioned that right wing prefer reducing inflation and left reducing unemployment. Which one is better? In my opinion it is impossible to reduce inflation without reduce unemployment. If there is high unemployment country have to give planty of social benefits while employees are able to pay tax and stabilize society. So it is possible to reduce inflation without excessive focus on reduce unemplyment?

Thank you for your response to my inquiry. I appreciate the information you have provided with.

Thank you for your response to my inquiry. I appreciate the information you have provided with.

What does not having a Right-To-Work law force employees to do (if the workplace is unionized)?

Meggane and her family went to a fair. Meggane spent

1

2 of her money on rides. She then spent $3.00 on snacks. At the end of the day, Meggane had $2.00 remaining. The equation

1

2 d – 3 = 2 represents this situation. How much money did Meggane bring to the fair?

1

2 of her money on rides. She then spent $3.00 on snacks. At the end of the day, Meggane had $2.00 remaining. The equation

1

2 d – 3 = 2 represents this situation. How much money did Meggane bring to the fair?

Suppose policy makers in a closed economy are concerned about inflation and want to increase the interest rate without changing the level of real GDP. What kind of policy mix would you recommend and how would your policy mix affect the components of GDP? Explain your answer and the adjustment processes that take place with the help of an IS-LM diagram.

How can i use the IS-LM diagram for this question. ? Thankyou

How can i use the IS-LM diagram for this question. ? Thankyou

Q1. Suppose policy makers in a closed economy are concerned about inflation and want to increase the interest rate without changing the level of real GDP. What kind of policy mix would you recommend and how would your policy mix affect the components of GDP? Explain your answer and the adjustment processes that take place with the help of an IS-LM diagram.

Suppose an economy is characterized by flexible prices and rigid nominal wage in the short-run. Using Aggregate Demand-Aggregate Supply framework, discuss the short-run and long-run effects of a decrease in money supply on the price level, real GDP, nominal wage rate and real wage rate.

In an economy with no exports and imports, autonomous consumption is $3 trillion, the marginal propensity to consume

is 0.6, investment is $5 trillion, and government expenditure on goods and services is $6 trillion. Taxes are $5 trillion and

do not vary with real GDP.

If real GDP is $34.4 trillion, calculate disposable income, consumption expenditure, and aggregate planned expenditure. What is equilibrium expenditure?

You are given the following information about the economy of Zealand. Autonomous consumption expenditure is $100b, and the marginal propensity to consume is 0.9. Investment is $460b, government purchases of goods and services are $400b, and net taxes are a constant $400b – they don’t vary with income.

a) Derive the equation that describe the consumption function? (1 mark)

b) Derive the equation that describes the aggregate expenditure curve? (1 mark)

c) Calculate equilibrium expenditure and real GDP. (2 marks)

d) If investment falls to $360b, what is the change in equilibrium expenditure and what is the size of the multiplier? (2 marks)

e) Sketch the information from a) – d) above using a Keynesian income-expenditure diagram.

a) Derive the equation that describe the consumption function? (1 mark)

b) Derive the equation that describes the aggregate expenditure curve? (1 mark)

c) Calculate equilibrium expenditure and real GDP. (2 marks)

d) If investment falls to $360b, what is the change in equilibrium expenditure and what is the size of the multiplier? (2 marks)

e) Sketch the information from a) – d) above using a Keynesian income-expenditure diagram.

Can you provide many reasons as why youth unemployment is an issue?