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- . Deflation is- (A) A situation of falling prices o (B) A situation of rising prices o (C) A situation of constant prices (D) None of theseConsider the following actual and forecast demandlevels for Big Mac hamburgers at a local McDonald’s restaurant:DAY ACTUAL DEMAND FORECAST DEMANDMonday 88 88Tuesday 72 88Wednesday 68 84Thursday 48 80FridayThe forecast for Monday was derived by observing Monday’sdemand level and setting Monday’s forecast level equal to this demand level. Subsequent forecasts were derived by using expo-nential smoothing with a smoothing constant of 0.25. Using this exponential smoothing method, what is the forecast for Big Macdemand for Friday?Panel (a) Panel (b) Price level LRAS Price level LRAS SRAS SRAS Ps Pz. ....... AD AD Y, Y Y Y Real GDP Real GDP Refer to Figure above. The level of income associated with Y1 in panel (b): O is equal to potential output. O reveals an inflationary gap compared with Yp. O is a long-run equilibrium. O is caused by flexible wages and prices.
- Demand-pull inflation is an inflation that results from an initial Select one: а. decrease in aggregate demand O b. increase in natural resource prices O c. increase in wage rates O d. increase in the aggregate demandQuestion 5 A rise in the general level of prices is called: O deflation compounding annexation O inflationPls help with below homework-) What is short run relationship between inflation and unemployment
- A period of time against which costs of the market basket in other periods will be compared in computing a price index is called O the inflation period. O the market basket. O the adjustment period. O the base period2.Deflation occurs when there is a fall in the general price level Select one: True False PREVIOUS PAGE NEXPRICE LE IT. 400 420 440 460 480 500 520 540 560 580 600 REAL GDP (Billions of dollars) 100 95 90 85 80 The increase in aggregate demand from AD₁ to AD2 causes AD 1 inflation. Suppose the marginal propensity to consume (MPC) is 0.90. The government wants to avoid the double-digit inflation associated with the shift from AD₁ to AD₂. The lowest possible price level associated with full-employment output is 110. To achieve a price level of 110 and full-employment output, the government must enact a fiscal policy that reduces aggregate demand by $40 billion at each price level. To reduce aggregate demand by $40 billion, the government can government expenditures by If the government wants to use a change in tax policy instead to reduce aggregate demand by $40 billion, it should taxes by
- 18 - If the unemployed people actively looking for work in an economy are 2,000,000, what is the unemployment rate if the number of workers is 18,000,000? a) 0.1 B) 0.09 C) 0.11 D) 5% TO) 0.12the following data represents a set do demands that have occurred over the last several years at a soap making company. The data were collected on an annual basis. Year Actual Demand (At) Forecast (Ft) 1 310 2 365 3 395 4 415 5 450 6 465 7 a) using the SIMPLE AVERAGE method to predict the demand for the 7th year b) the SIMPLE MOVING AVERAGE method to predict the demand for the 7th yeari need 3 question solution other pic is just for reference of graph and this is LM and IS data In goods market equilibrium, Y = C + I + G Y = 130 + 0.8(Y - 380) + 160 - 10r + 310 [as YD = Y - T] Y = 600 + 0.8Y - 304 - 10r 0.2Y = 296 - 10r Y = 1,480 - 50r...........(IS schedule) In money market equilibrium, Md = Ms 75 + 0.12Y - 10r = 195 0.12Y = 120 + 10r Y = 1,000 + 83.33r..........(LM schedule)