Macroeconomics 201
Answer all 25 multiple choice questions.
1. Which is not a function of money?
a) unit of account; b) medium of exchange; c) means of measure; d) store of value
2. Since the 1980s, it has generally been the view that the money supply:
a) is completely controlled by the central bank;
b) cannot be controlled by the central bank;
c) is completely controlled by the Treasury;
d) cannot be controlled by the Treasury
3) Which of the following is not one of the three kinds of demand for money in Keynes?
a) speculative;
b) precautionary; c) administrative;
d) transactions
4) Which of the following is not one of the ways the Fed can use to try to affect the money supply?
a) change the discount rate;
b) change the fed funds rate;
c) change the reserve requirement ratio;
d) open market operations
5) Expansionary policy is used to:
a) try to fight inflation;
b) try to decrease output, income, and employment;
c) try to increase output, income, and employment;
d) try to increase deflation
6) There is a tension between these two characteristics of banks in a fractional reserve banking system:
a) private profit seeking enterprises and susceptible to runs;
b) private profit seeking enterprises and engage in money creation;
c) engage in money creation and susceptible to runs;
d) engage in runs and susceptible to money creation
7) The liquidity trap is:
a) the horizontal portion of the money demand function;
b) when interest rates are so low people do not think they can go any lower;
c) when interest rates are insensitive to changes in the Money supply;
d) all of the above
8) The limits to KEMP are:
a) I may be insensitive to changes in i, i may insensitive to changes in Ms, Y may be insensitive to changes in I;
b) I may be insensitive to changes in Y, I may be insensitive to changes in i, i may be insensitive to changes in Ms;
c) I may be insensitive to changes in i, i may be insensitive to changes in Ms, Y may be insensitive to changes in i;
d) I may be insensitive to changes in i; Ms may be insensitive to changes in i, Y may be insensitive to changes in I
9) The limits to KAIMP are:
a) only works for demand-pull inflation, Fed may overshoot its mark and cause a recession;
b) only works for cost-push inflation, Fed may overshoot its mark and cause a recession; c) only works for demand-push inflation, Fed may overshoot its mark and cause a recession;
d) only works for cost-pull inflation, Fed may undershoot its mark and cause a recession
10) In the endogenous view of the money supply:
a) the Ms curve is vertical;
b) the Ms curve is horizontal;
c) the Md curve is vertical;
d) the Md curve is horizontal
11) Deficit Hawks view deficits as causing:
a) high investment rates; b) deflation; c) high interest rates; d) all of the above
12) Deficit Doves believe that:
a) deficits cause high interest rates;
b) high interest rates cause bigger deficits;
c) deficits are always good;
d) all of the above
13) In the functi ...
1.The tax multiplier associated with a $10B reduction in taxes i.docxhyacinthshackley2629
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
1.The tax multiplier associated with a $10B reduction in t.docxelliotkimberlee
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
MACROECONOMIC MODELS AND FISCAL POLICY1. Which one of the follow.docxinfantsuk
MACROECONOMIC MODELS AND FISCAL POLICY
1. Which one of the following statements best describes the idea of a political business cycle? A. Despite good intentions, various timing lags will cause fiscal policy to reinforce the business cycle. B. Politicians will use fiscal policy to cause output, real incomes, and employment to be rising prior to elections. C. Politicians are more willing to cut taxes and increase government spending than they are to do the reverse. D. Fiscal policy will result in alternating budget deficits and surpluses.
2. In building the aggregate expenditures model, Keynes believed that A. government intervention into the economy is the primary cause of business cycle fluctuations. B. massive unemployment of labor and capital created conditions where sudden demand changes are unlikely to change prices. C. changes in aggregate expenditures are unable to affect the level of real output in the economy. D. economies are normally at full employment and thus frequently susceptible to bouts of inflation.
5. Which one of the following statements correctly describes the multiplier effect? A. The multiplier effect means that a change in consumption can cause a larger increase in investment. B. The multiplier effect means that a decline in the MPC can cause GDP to rise by several times that amount. C. The multiplier effect means that consumption is typically several times as large as saving. D. The multiplier effect means that an increase in investment can cause GDP to change by a larger amount.
7. The amount by which federal tax revenues exceed federal government expenditures during a particular year is the A. public debt. B. budget surplus. C. Federal Reserve. D. budget deficit.
9. Which one of the following statements about dissaving is correct? A. Dissaving occurs where saving exceeds consumption. B. Dissaving occurs where consumption exceeds income. C. Dissaving occurs where income exceeds consumption. ...
1.The tax multiplier associated with a $10B reduction in taxes i.docxhyacinthshackley2629
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes. This is known as Tax Freedom Day. Last year’s date, April 26, was three days later than the previous year’s. The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________. This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid -- much time
b.
non-liquid -- much time
c.
liquid – very little time
d.
non-liquid -- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending." The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous." In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open market sales.
b.
Lower the discount rate, lower the res.
1.The tax multiplier associated with a $10B reduction in t.docxelliotkimberlee
1.
The tax multiplier associated with a $10B reduction in taxes is _______ the spending multiplier associated with a $10B increase in government spending because __________
a.
the same quantity as / a tax change will either put more income into or out of savings
b.
smaller than / a tax change also involves a change in savings in the first round of spending
c.
larger than / taxes cause more discretionary income to be spent whether it is a tax increase or a tax decrease
d.
smaller than / the tax multiplier is usually very unstable
2.
Each year the Tax Foundation calculates the day of the year the average income earner has to work in order to pay taxes.
This is known as Tax Freedom Day.
Last year’s date, April 26, was three days later than the previous year’s.
The Tax Foundation says this is because of economic growth leading to higher incomes and higher taxes.
This observation makes sense since our income tax system is progressive and therefore ___________.
This is also consistent with ____________.
a.
takes a higher percent of income, the greater one’s income – how automatic stabilizers work
b.
takes a lower percent of income, the greater one’s income – how automatic stabilizers work
c.
takes a higher percent of income, the greater one’s income – the discretionary tools of fiscal policy
d.
takes a lower percent of income, the greater one’s income – monetary policy
3.
A house is a ______________ asset, and therefore this means that it takes ________ to recover its true value in the marketplace.
a.
liquid
-- much time
b.
non-liquid
-- much time
c.
liquid – very little time
d.
non-liquid
-- very little time
4
."An increase in national income increases aggregate demand more than the initial increase in spending."
The preceding statement describes
a.
microeconomic supply and demand curves.
b.
macroeconomic supply and demand curves.
c.
the spending multiplier.
d.
the money multiplier.
e.
both c) and d) are correct.
5.
If the Fed buys $1,000 worth of bonds and the banking multiplier is 8, then
a.
the reserve ratio is 12.5 percent.
b.
the potential money supply increase is greater than $1,000.
c.
there must also be a government spending increase or the Fed would not be buying the bonds.
d.
all of the above.
e.
both a) and b) are correct.
6.
Both fiscal and monetary policy affect the money supply.
a.
true
b.
false
7.
The Fed is considered "autonomous."
In practice this means the Board of Governors
a.
run for reelection every 4 years.
b.
are more insulated from the wishes of the voters than Congress.
c.
are less insulated from the wishes of the voters than Congress.
d.
can do whatever they please since they have lifetime appointments.
8.
Which of the policy combinations given below would consistently work in the direction of decreasing the rate of growth of the money supply?
a.
Raise the discount rate, lower the reserve requirement and engage in open mar.
MACROECONOMIC MODELS AND FISCAL POLICY1. Which one of the follow.docxinfantsuk
MACROECONOMIC MODELS AND FISCAL POLICY
1. Which one of the following statements best describes the idea of a political business cycle? A. Despite good intentions, various timing lags will cause fiscal policy to reinforce the business cycle. B. Politicians will use fiscal policy to cause output, real incomes, and employment to be rising prior to elections. C. Politicians are more willing to cut taxes and increase government spending than they are to do the reverse. D. Fiscal policy will result in alternating budget deficits and surpluses.
2. In building the aggregate expenditures model, Keynes believed that A. government intervention into the economy is the primary cause of business cycle fluctuations. B. massive unemployment of labor and capital created conditions where sudden demand changes are unlikely to change prices. C. changes in aggregate expenditures are unable to affect the level of real output in the economy. D. economies are normally at full employment and thus frequently susceptible to bouts of inflation.
5. Which one of the following statements correctly describes the multiplier effect? A. The multiplier effect means that a change in consumption can cause a larger increase in investment. B. The multiplier effect means that a decline in the MPC can cause GDP to rise by several times that amount. C. The multiplier effect means that consumption is typically several times as large as saving. D. The multiplier effect means that an increase in investment can cause GDP to change by a larger amount.
7. The amount by which federal tax revenues exceed federal government expenditures during a particular year is the A. public debt. B. budget surplus. C. Federal Reserve. D. budget deficit.
9. Which one of the following statements about dissaving is correct? A. Dissaving occurs where saving exceeds consumption. B. Dissaving occurs where consumption exceeds income. C. Dissaving occurs where income exceeds consumption. ...
In theory, financially open economies canA) manipulate their tr.docxbradburgess22840
In theory, financially open economies can:
A) manipulate their trade accounts to avoid imbalances.
B) avoid all economic shocks or downturns.
C) lower the unemployment rate but cannot control inflation.
D) use access to the international financial markets to keep investment and consumption stable.
2.
A nation's use of international capital markets enables it to do all of the following except:
A) provide for a higher level of national defense
B) smooth consumption over time
C) build a productive national capital stock
D) reduce risk through diversification
3.
The change in external wealth from period t to t + 1 is equal to:
A) the balance on the current account minus the balance on the financial account (FA).
B) the trade balance (deficit or surplus) plus interest (earned or paid) on external debt or wealth.
C) a nation's domestic income plus net foreign factor income.
D) the balance on the current account plus the balance on the capital account .
4.The exorbitant privilege for the United States implies that:
A) the United States can lend money to people at low interest rates.
B) U.S. investments abroad often earn very low interest rates.
C) foreigners' investments in the United States earn them less income than the U.S. investments abroad.
D) foreigners' investments in the United States earn them more income than the U.S. investments abroad.
5.
In the case of the United States, the long-run budget constraint is eased somewhat by:
A) increasing debt and increasing wealth at the same time.
B) figuring in the capital gain differential and an interest rate differential on external assets and liabilities.
C) the surprising shrinking trade deficit of the United States.
D) the shrinkage of the U.S. national debt.
In low-income nations, the budget constraint is usually:
A) more lenient because creditor nations are interested in helping poor countries grow.
B) more stringent because poor nations have low credit ratings and pay higher rates of interest.
C) ignored by international financial markets.
D) good for these nations because they should not get into debt they are unable to repay.
7.
An assumption of the intertemporal model that is often not met in low-income nations is:
A) that the economy is always at full employment.
B) that prices are flexible.
C) that a nation can borrow or lend any amount in international markets at the prevailing world real rate of interest.
D) that the government of the nation has a balanced budget.
8.
What is a sudden stop?
A) a situation in which a nation runs out of labor resources
B) a situation in which a nation's prime minister has to call a new election
C) a situation in which a nation's financial markets collapse and investors lose everything
D) a situation in which a nation's creditors decide to cease new lending
9.
The risk premium associated with a government loan:
A) rises with national debt.
B) is independent of national debt.
C) falls with national debt.
D) is unrelated to government bond ratings.
.
the ppt of this chapter is in attachmentChapter 17 End of Ch.docxlourapoupheq
the ppt of this chapter is in attachment
Chapter 17 End of Chapter Quiz
1. Suppose that firms in Boversia gain confidence in the economy, so domestic investment rises for any given interest rate. For now, assume that net capital outflows don’t change. What happens to output and the real exchange rate when the Boversian central bank holds the real interest rate constant? (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct
2. Suppose again that investment rises in Boversia. In this case, assume that higher confidence in the economy also causes a decrease in net capital outflows. What happens to output and the real exchange rate when the Boversian central bank holds the real interest constant. (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct.
3. Consider the scenario in Figure 17.4: a rise in confidence causes a fall in net capital outflows, and the central bank adjusts the interest rate to keep the exchange rate constant. For this case, what happens to consumption and investment.
A. C increases, I increases.
B. C increases, I is constant.
C. C is constant, I decreases.
D. C is constant, I is constant.
4. Suppose government spending rises in Boversia, shifting the AE curve outward. The central bank would like to keep both output and the real exchange rate constant. How can policymakers accomplish these goals through a combination of an interest-rate adjustment and capital controls.
A. The central bank has to increase the real interest rate and prevent capital outflows.
B. The central bank has to increase the real interest rate and prevent capital inflows.
C. The central bank has to decrease the real interest rate and prevent capital outflows.
D. The central bank cannot achieve the two goals simultaneously.
5. Compare two statements about exchange rates by former Treasury Secretary Henry Paulson, both from 2007: (1) “A strong dollar is in our nation’s interest.” (2) “The currency [China’s yuan] needs to appreciate, and it needs to appreciate faster.” Are the two statements consistent with one another?
A. The two statements are consistent because both imply a yuan appreciation.
B. The two statements are consistent because both imply a dollar depreciation.
C. The two statements are not consistent.
D. There is not enough information to judge the consistency of the two statements.
6. What is the difference between an appreciation and a revaluation of a currency?
A. Appreciation implies th.
Agcapita is Canada's only RRSP and TFSA eligible farmland fund and is part of a family of funds with over $100 million in assets under management. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita created the Farmland Investment Partnership to allow investors to add professionally managed farmland to their portfolios.
1. The short-run Phillips Curve is a curve that shows the relat.docxbraycarissa250
1.
The short-run Phillips Curve is a curve that shows the relationship between the inflation rate and the pure interest rate when the natural rate of unemployment and the expected rate of inflation remain constant.
True
False
2.
At higher rates of inflation, unemployment is lower in the short-run Phillips Curve; in the long run, however, inflation has no effect on unemployment.
True
False.
3.The Federal Funds Market is actually monitored and manipulated by the Federal Reserve, but individual investors can enter the market and borrow funds if desired.
True
False
4.
One of the three main tools of the Federal Reserve is fiscal policy.
True
False
5.
The Federal Reserve's Reserve Requirement ratio can reduce the monetary base and thus the money supply.
True
False
6.
If the Federal Reserve wants to reduce interest rates and increase the velocity of money, it can utilize the open market operations tool by selling government bonds to member banks.
True
False
7.
The use of money as a medium of exchange represents the most important service that money renders.
True
False
8.
Keynes advocated government deficit spending during recessions, especially if full employment was not yet reached.
True
False
9.
ommercial banks and credit unions can create money and credit.
True
False
10. M1 includes currency, checkable deposits, and traveler's checks, but M2 does not include M1 in any way.
11.
The imposition of a tariff on foreign goods is more likely to decrease producer surplus of the domestic firms competing with those foreign firms on whom the tariff is imposed.
True
False
12.
When an American purchases a German good or invests in Germany, Euros currency is supplied and U.S. dollars are demanded.
True
False
13.
The main goal of the Federal Reserve is the unemployment rate.
True
False
14.
If the economy is in long run economic equilibrium, at potential GDP, and full employment has been reached as well, if there is an outward shift in aggregate demand, we can expect damaging inflation to start to occur and the government to seek contractionary fiscal and monetary options.
True
False
15.
If the MPC is .9, and government purchases increase by $6,000, real GDP demanded will:
a.
decrease by $60,000
b.
decrease by $6,000
c.
increase by $60,000
d.
increase by $6,000
e.
increase by $5,000
17.
Fiscal policy consists of the executive branch's decisions to tax and spend. If the economy is in an expansionary mode just coming out of a recession, in regards to aggregate demand and aggregate supply, we can assume that a tax hike will lead to
a.
the economy expanding even more as a result.
b.
aggregate demand and supply to shift inward.
c.
aggregate supply to shift inward.
d.
aggregate demand to shift inward.
e.
no changes will occur.
18.
The natural rate of unemployment is
a.
when the economy is at potential GDP.
b.
when the unemployment rate is at full employment.
.
Please be sure to give proper credit when presenting .docxjoyjonna282
Please be sure to give proper credit when presenting non-original material in the essay questions (4, 12, 17, and 29). You don't need to adhere to APA style citations, but you do need to credit non-original ideas. If you are going to cite the text, just a quick (Mishkin, p. xxx)
1. A plot of the interest rates on default-free government bonds with different terms to maturity is called
(a) a yield curve
(b) a default-free curve
(c) an interest-rate curve
(d) A risk-structure-curve
2. The higher a securities price in the secondary market the ________ funds a firm can raise by selling securities in the ________ market.
(a) More; secondary
(b) Less ; secondary
(c) Less ; primary
(d) More ; primary
3. he U.S. banking system is considered to be a dual system because
(a) banks offer both checking and savings accounts
(b) It actually includes both banks and thrift institutions.
(c) It was established before the Civil War, requiring separate regulatory bodies for the North and South.
(d) It is regulated by both state and federal governments.
4. Keynes titled his famous book The General Theory of Employment, Interest and Money, suggesting that the case of an economy reaching long-term equilibrium at full-employment was just a special case that could incorporated into his general theory. He argued that it is possible for the economy to reach a long-run equilibrium at less than full employment, as occurred in the US in the 1930s. His theory, as it relates to countercyclical fiscal policy is controversial to this day. Interest in Keynes' theory was rekindled in the wake of the financial crisis of 2008. Discuss the US policy response to the 2008 financial crisis in terms of Keynesian theory, and how the US experience of The Great Depression informed the Fed's response in 2008-current. You may wish to include a discussion of fiscal policy as well.
5. The amount of assets per dollar of equity capital is called the
(a) equity ratio
(b) Equity multiplier
(c) Asset multiplier.
(d) Asset ratio.
6. Financial markets have the basic function of
(a) Assuring that the swings in the business cycle are less pronounced.
(b) Assuring that governments need never resort to printing money.
(c) Getting people with funds to lend together with people who want to borrow funds.
(d) Providing a risk-free repository of spending power.
7. When the interest rate is ________, ________ investments in physical capital will earn more than the cost of borrowed funds, so planned investment spending is ________.
(a) low; few; high
(b) high ; many ; high
(c) low ; many ; low
(d) high ; few ; low
(e) high ; few high
8. Which of the following would a bank not hold as insurance against the highest cost of deposit outflow-bank failure?
(a) Bank capital
(b) Mortgages
(c) Secondary reserves
(d) Excess reserves
9. Which of the following are true concerning the distinction between interest rates and returns?
(a) The return can be expressed as the sum ...
1. During a recession the economy experiencesa. rising employm.docxadolphoyonker
1. During a recession the economy experiences
a.
rising employment and income.
b.
rising employment and falling income.
c.
rising income and falling employment.
d.
falling employment and income.
2. Most economists use the aggregate demand and aggregate supply model primarily to analyze
a.
short-run fluctuations in the economy.
b.
the effects of macroeconomic policy on the prices of individual goods.
c.
the long-run effects of international trade policies.
d.
productivity and economic growth.
3. The classical dichotomy refers to the separation of
a.
prices and nominal interest rates.
b.
taxes and government spending.
c.
decisions made by the public and decisions made by the government.
d.
real and nominal variables.
4. According to classical macroeconomic theory, changes in the money supply affect
a.
variables measured in terms of money and variables measured in terms of quantities or relative prices
b.
variables measured in terms of money but not variables measured in terms of quantities or relative prices
c.
variables measured in terms of quantities or relative prices, but not variables measured in terms of money
d.
neither variables measured in terms of money nor variables measured in terms of quantities or relative prices
5. Most economists believe that money neutrality
a.
does not hold in the short run.
b.
does not hold in the long run.
c.
does not hold in either the short run or long run.
d.
holds in the short run and the long run.
6. The aggregate demand and aggregate supply graph has
a.
quantity of output on the horizontal axis. Output can be measured by the GDP deflator.
b.
quantity of output on the horizontal axis. Output can be measured by real GDP.
c.
quantity of output on the vertical axis. Output can be measured by the GDP deflator.
d.
quantity of output on the vertical axis. Output can be measured by real GDP.
7. Aggregate demand includes
a.
the quantity of goods and services the government, households, firms, and customers abroad want to buy.
b.
neither the quantity of goods and services the government, households, nor firms want to buy nor the quantity of goods and services customers abroad want to buy.
c.
the quantity of goods and service the government wants to buy, but not the quantity of goods and services households, firms, or customers abroad want to buy.
d.
the quantity of goods and services households and firms want to buy, but not the quantity of goods and services the government wants to buy.
8. Other things the same, a decrease in the price level motivates people to hold
a.
less money, so they lend less, and the interest rate rises.
b.
less money, so they lend more, and the interest rate falls.
c.
more money, so they lend more, and the interest rate rises.
d.
more money, so they lend less, and the interest rate falls.
9. When the dollar depreciates, U.S.
a.
net exports rise, which increases the aggregate quantity.
1.Suppose that firms in Boversia gain confidence in the economy,.docxAlyciaGold776
1.
Suppose that firms in Boversia gain confidence in the economy, so domestic investment rises for any given interest rate. For now, assume that net capital outflows don’t change. What happens to output and the real exchange rate when the Boversian central bank holds the real interest rate constant? (Hint: Stick to the assumptions made in chapter 17.)
A.
Output increases and the real exchange rate increases.
B.
Output increases and the real exchange rate decreases.
C.
Output increases and the real exchange rate stays constant.
D.
None of the given answers are correct
2.
Suppose again that investment rises in Boversia. In this case, assume that higher confidence in the economy also causes a decrease in net capital outflows. What happens to output and the real exchange rate when the Boversian central bank holds the real interest constant. (Hint: Stick to the assumptions made in chapter 17.)
A.
Output increases and the real exchange rate increases.
B.
Output increases and the real exchange rate decreases.
C.
Output increases and the real exchange rate stays constant.
D.
None of the given answers are correct.
3.
Consider the scenario in Figure 17.4: a rise in confidence causes a fall in net capital outflows, and the central bank adjusts the interest rate to keep the exchange rate constant. For this case, what happens to consumption and investment.
A.
C increases, I increases.
B.
C increases, I is constant.
C.
C is constant, I decreases.
D.
C is constant, I is constant.
4.
Suppose government spending rises in Boversia, shifting the AE curve outward. The central bank would like to keep both output and the real exchange rate constant. How can policymakers accomplish these goals through a combination of an interest-rate adjustment and capital controls.
A.
The central bank has to increase the real interest rate and prevent capital outflows.
B.
The central bank has to increase the real interest rate and prevent capital inflows.
C.
The central bank has to decrease the real interest rate and prevent capital outflows.
D.
The central bank cannot achieve the two goals simultaneously.
5.
Compare two statements about exchange rates by former Treasury Secretary Henry Paulson, both from 2007: (1) “A strong dollar is in our nation’s interest.” (2) “The currency [China’s yuan] needs to appreciate, and it needs to appreciate faster.” Are the two statements consistent with one another?
A.
The two statements are consistent because both imply a yuan appreciation.
B.
The two statements are consistent because both imply a dollar depreciation.
C.
The two statements are not consistent.
D.
There is not enough information to judge the consistency of the two statements.
6.
What is the difference between an appreciation and a revaluation of a currency?
A.
Appreciation implies that a currency becomes more valuable as measured in units of foreign currency while a revaluation implies that the currency becomes less valuable as measured in un.
LOYOLA MARYMOUNT UNIVERSITY Econ 120 – Macroeconomics E.docxSHIVA101531
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
1
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
Multiple Choice (2 points each)
1. The spending multiplier is equal to:
A) MPC / MPS.
B) 1 / (1 – MPS).
C) MPC + MPS.
D) 1 / (1 – MPC).
2. If the marginal propensity to consume is 0.75 and the federal government increases spending by $100 billion,
the income expenditure model would predict that real GDP will increase by:
A) $100 billion.
B) $750 billion.
C) $400 billion.
D) $300 billion.
3. The money demand curve is:
A) downward-sloping because the opportunity cost of holding money is inversely related to the interest rate.
B) downward-sloping because the opportunity cost of holding money rises as the interest rate rises.
C) downward-sloping because the opportunity cost of holding money rises as the interest rate falls.
D) upward-sloping because the opportunity cost of holding money rises with the interest rate.
Figure: Policy Alternatives
4. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government increases
government spending, the result will likely be
A) an increase in unemployment.
B) a decrease in interest rates.
C) inflation.
D) deflation.
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
2
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
5. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government does not
intervene, the result will likely be
A) a shift of AD1 to the left.
B) a shift of SRAS1 to SRAS2.
C) a shift of LRAS to the left.
D) no change in AD or SRAS.
6. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government decides to
intervene, it would most likely
A) increase taxes.
B) decrease the money supply.
C) increase government spending.
D) decrease government spending.
7. In the long run, an increase in AD will result in:
A) no changes in the aggregate price level.
B) no changes in the aggregate output level.
C) increases in both the aggregate price level and the aggregate output level.
D) increases in the aggregate price level but no changes in the aggregate output level.
8. Starting from its potential output, an economy's government increases spending. In the long run, this
economy:
A) will produce at an output level that is greater than its potential output.
B) will produce at its potential output.
C) will produce at an output level that is below its potential output.
D) will produce at its potential output level, but at a lower aggregate price level.
9. In the long run, the aggregate price level falls. This could result from:
A) a leftward shift in AD.
B) a rig ...
Please cite and include references- Broderick & Blewitt (2015) must.docxinfantsuk
*Please cite and include references- Broderick & Blewitt (2015) must be one of the sources (total of three references in the discussion post)
Consider the following perspective from the Just the Facts Coalition, a group comprised of counselors and other helping professionals who work with adolescent children:
Sexual orientation is not synonymous with sexual activity. Many adolescents as well as adults may identify themselves as lesbian, gay, or bisexual without having had any sexual experience with persons of the same sex. Other young people have had sexual experiences with a person of the same sex but do not consider themselves lesbian, gay, or bisexual. This is particularly relevant during adolescence because experimentation and discovery are normal and common during this developmental period. (American Psychological Association, 2013)
Straight, lesbian, gay, bisexual, transgendered, and questioning—when it comes to sexuality and sexual orientation, what influences individuals the most?
For this Discussion, review this week’s media presentation, “Perspectives: The ‘Tween’ Years,” reflecting on the factors that influence sexuality and sexual orientation during the tween years. Then, complete the post assigned to you by your Instructor.
Discussion A
Post by Day 4
an explanation of the roles that biology, culture, socialization, and age may play in influencing sexuality. Justify your response with references to this week’s Learning Resources and the current literature. Be specific.
References:
Broderick, P. C., & Blewitt, P. (2015).
The life span: Human development for helping professionals
(4th ed.). Upper Saddle River, NJ: Pearson Education.
Chapter 8, “Gender and Peer Relationships: Middle Childhood Through Early Adolescence” (pp. 282-323)
Chapter 9, “Physical, Cognitive, and Identity Development in Adolescence” (pp. 324-367)
Best, D. L. (2009). Another view of the gender-status relation.
Sex Roles, 61
(5/6),341–351.
Retrieved from the Walden Library databases.
Cobb, R. A., Walsh, C. E., & Priest, J. B. (2009). The cognitive-active gender role identification continuum.
Journal of Feminist Family Therapy, 21
(2),77–97.
Retrieved from the Walden Library databases.
Ewing Lee, E. A., & Troop-Gordon, W. (2011). Peer processes and gender role development: Changes in gender atypically related to negative peer treatment and children’s friendships.
Sex Roles, 64
(1/2),90–102.
Retrieved from the Walden Library databases.
Gallor, S. M., & Fassinger, R. E. (2010). Social support, ethnic identity, and sexual identity of lesbians and gay men.
Journal of Gay & Lesbian Social Services, 22
(3)
,
287–315.
Retrieved from the Walden Library databases.
Lev, A. I. (2004).
Transgender emergence: Therapeutic guidelines for working with gender-variant people and their families
. Binghampton, NY: Routledge.
Chapter 3, “Deconstructing Sex and Gender: Thinking Outside the Box” (pp. 79–109)
Retrieved from the W.
Please choose 1 of the 2 topics below for this weeks assignment.docxinfantsuk
Please choose 1 of the 2 topics below for this weeks assignment:
Topic 1: Rite of Passage
A rite of passage is an event that marks a person's progress from one status to another. It is a universal phenomenon which can show anthropologists what social hierarchies, values and beliefs are important in specific cultures. Rites of passage are often ceremonies surrounding events such as other milestoneh are considered important rites of passage for persons of their respective religions.s within puberty, coming of age, marriage and death. Initiation ceremonies such as baptism, confirmation and bar or bat Mitzva
I would like you to write and describe an event that you have gone through that has changed your perception of yourself, your perception by those around you, and any new roles, expectations that came along with your Rite of Passage. How has this passage changed how you interact with others? How has it changed who you interact with? Please use concepts and terms from the text to better explain your experiences.
For example; you may describe when you had your first child and the new roles that came with being a mother or father. You may describe when you got married, graduated from high school, got your driver’s license, etc.
Topic 2: Social Roles
I would like you to describe your various roles (son, daughter, mom, dad, employee, employer, aunt, uncle, brother, sister) that exist within the social institutions that you occupy. I would like you to choose only a few (no more than 3 or 4) of them that you deem important and take satisfaction in. Describe the roles, why they are important to you and what are the expectations of those roles, why you take pride in the role, and how has it changed your perspective (if it has).
1 page minimum (650-700 Words per page)
.
Please be advised that for the second writing assignment, the clas.docxinfantsuk
Please be advised that for the second writing assignment, the class is split in half. Students who choose a topic from the first half of the semester will be assigned writing assignment 2A and students who choose a topic from the second half of the semester will be assigned writing assignment 2B. Instructions are below.
Writing Assignment #2
Contemporary Issues in Employment Law
Value 300 points
Writing assignment 2A is due end of week 7 - March 11.
The following topics are assigned to Writing Assignment 2A
Remedies under Title VII
Employment at Will
Constitutional Issues
EEOC
Race and Color Discrimination
National Origin Discrimination
Disability Discrimination
Religious Discrimination
Sex Discrimination
Sexual Harassment
Overview
This Writing Assignment is required to provide students with the opportunity to:
• Investigate a “subtopic” of special interest associated with any of the major topics addressed during the course.
• Acquire in depth knowledge about a “subtopic” of choice – expanding one’s knowledge base beyond the basic course curriculum.
• Reflect on facts, theories, and opinions associated with the subtopic of choice. Develop or change an opinion about the subject.
• Communicate knowledge about chosen topic, offering learning community members an opportunity to increase their knowledge on a subtopic topic associated with the base course curriculum.
• Communicate one’s opinion on the subtopic, using critical thinking skills to form the opinion and writing skills to communicate one’s thoughts.
Instructions
1. Research the topic that you have chosen or have been assigned.
Listing for spring 2017 (listing will be available after week 3)
IMPORTANT: If using Internet based resources, ensure that resources are of high quality, such as websites that end in .gov or .edu.
Do not use the following as resources:
Law firm web sites
Law firms are trying to solicit clients. In Employment law, law firms usually represent either employers or workers - few represent both. As such, their web sites are designed to attract the clients they seek to represent. Therefore, the information contained therein may not be completely accurate as the information provided may be skewed to either a management or employee perspective.
Websites such as Wikipedia or ehow
Information found on those sites may not be reliable.
2. Organize and develop your writing assignment
Use the following format: Overview, Opinion Statements, Resource Citations.
Use the headings to divide your work into the 3 required areas in your paper.
Overview
Provide an overview of your topic using at least two resources.
Highlight the most important concepts.
The overview should be no more than 500 words. That’s about 7 – 8 average length paragraphs.
Do not place your opinions in the overview. This is an academically oriented portion of the assignment. Your opinions are welcome in the next portion of the paper.Your overview MUST include citation of sources.
Please briefly describe cross cultural variations in Consumer Beha.docxinfantsuk
Please briefly describe cross cultural variations in Consumer Behavior and explain core values that vary across culture and influence behaviors.
You must provide at least three examples.
Provide your explanations and definitions in detail and be precise. Comment on your findings. Provide references for content when necessary. Provide your work in detail and explain in your own words. Support your statements with peer-reviewed in-text citation(s) and reference(s).
.
Please be sure to organize your report using section headers to clea.docxinfantsuk
Please be sure to organize your report using section headers to clearly indicate which part of the assignment you are addressing (i.e. do not write in a classic essay format).
1)
Define the health disorder
: Colon Cancer
a. Clearly describe the symptoms, disease prognoses, type of infectious agent, if applicable, significance of this disease
2)
Distribution section – this is the most important part of the assignment!
a.
Must provide quantitative incidence, prevalence and mortality measures to describe person, place and time aspects of the disease’s distribution!
b. Quality of tools used (tables, graphs, maps)?
c. Information clearly cited within the body of the report and referenced completely at the end?
d. Described host characteristics?
e. Environmental attributes discussed clearly?
f. Any temporal characteristics to the disease’s distribution?
g. Other patterns or trends?
3)
Summation:
a. Conclusions and summary of any current hypotheses to explain the described distributions
b. Identification of any gaps in knowledge about the distribution
The overall quality of writing, organization, basic “grammar” and comprehension issues will also be considered.
.
Please attach two different assignments. Please first provide the dr.docxinfantsuk
Please attach two different assignments. Please first provide the draft for the IRP then provide the revised IRP that is finalized. It is crucial that you thoroughly check for grammatical errors.
Please do not use books or journals as references.
Please use online sources.
Requirements for final draft:
60.0
to >54.0
pts
Excellent
Plan includes the following for one data center and the global network: • Comprehensive list and explanation of potential incidents • Rating of incidents by risks as high, medium, or low, with rationale for all ratings • Mitigating controls to reduce the identified risks, with clear explanation and rational for each control • Identification of incident response team (contact list – names, titles, work and home contact information) with roles and responsibilities, and explanation of why those roles are responsibilities were assigned to each team member • Detailed and concise process to assess, describe, and document the damage with appropriate forms; explanation of rationale for each step in the process; forms clear and well laid-out • Detailed and concise incident reporting process and appropriate forms; explanation of rationale for each step in the process; forms clear and well laid-out
.
More Related Content
Similar to Macroeconomics 201 Answer all 25 multiple choice questions..docx
In theory, financially open economies canA) manipulate their tr.docxbradburgess22840
In theory, financially open economies can:
A) manipulate their trade accounts to avoid imbalances.
B) avoid all economic shocks or downturns.
C) lower the unemployment rate but cannot control inflation.
D) use access to the international financial markets to keep investment and consumption stable.
2.
A nation's use of international capital markets enables it to do all of the following except:
A) provide for a higher level of national defense
B) smooth consumption over time
C) build a productive national capital stock
D) reduce risk through diversification
3.
The change in external wealth from period t to t + 1 is equal to:
A) the balance on the current account minus the balance on the financial account (FA).
B) the trade balance (deficit or surplus) plus interest (earned or paid) on external debt or wealth.
C) a nation's domestic income plus net foreign factor income.
D) the balance on the current account plus the balance on the capital account .
4.The exorbitant privilege for the United States implies that:
A) the United States can lend money to people at low interest rates.
B) U.S. investments abroad often earn very low interest rates.
C) foreigners' investments in the United States earn them less income than the U.S. investments abroad.
D) foreigners' investments in the United States earn them more income than the U.S. investments abroad.
5.
In the case of the United States, the long-run budget constraint is eased somewhat by:
A) increasing debt and increasing wealth at the same time.
B) figuring in the capital gain differential and an interest rate differential on external assets and liabilities.
C) the surprising shrinking trade deficit of the United States.
D) the shrinkage of the U.S. national debt.
In low-income nations, the budget constraint is usually:
A) more lenient because creditor nations are interested in helping poor countries grow.
B) more stringent because poor nations have low credit ratings and pay higher rates of interest.
C) ignored by international financial markets.
D) good for these nations because they should not get into debt they are unable to repay.
7.
An assumption of the intertemporal model that is often not met in low-income nations is:
A) that the economy is always at full employment.
B) that prices are flexible.
C) that a nation can borrow or lend any amount in international markets at the prevailing world real rate of interest.
D) that the government of the nation has a balanced budget.
8.
What is a sudden stop?
A) a situation in which a nation runs out of labor resources
B) a situation in which a nation's prime minister has to call a new election
C) a situation in which a nation's financial markets collapse and investors lose everything
D) a situation in which a nation's creditors decide to cease new lending
9.
The risk premium associated with a government loan:
A) rises with national debt.
B) is independent of national debt.
C) falls with national debt.
D) is unrelated to government bond ratings.
.
the ppt of this chapter is in attachmentChapter 17 End of Ch.docxlourapoupheq
the ppt of this chapter is in attachment
Chapter 17 End of Chapter Quiz
1. Suppose that firms in Boversia gain confidence in the economy, so domestic investment rises for any given interest rate. For now, assume that net capital outflows don’t change. What happens to output and the real exchange rate when the Boversian central bank holds the real interest rate constant? (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct
2. Suppose again that investment rises in Boversia. In this case, assume that higher confidence in the economy also causes a decrease in net capital outflows. What happens to output and the real exchange rate when the Boversian central bank holds the real interest constant. (Hint: Stick to the assumptions made in chapter 17.)
A. Output increases and the real exchange rate increases.
B. Output increases and the real exchange rate decreases.
C. Output increases and the real exchange rate stays constant.
D. None of the given answers are correct.
3. Consider the scenario in Figure 17.4: a rise in confidence causes a fall in net capital outflows, and the central bank adjusts the interest rate to keep the exchange rate constant. For this case, what happens to consumption and investment.
A. C increases, I increases.
B. C increases, I is constant.
C. C is constant, I decreases.
D. C is constant, I is constant.
4. Suppose government spending rises in Boversia, shifting the AE curve outward. The central bank would like to keep both output and the real exchange rate constant. How can policymakers accomplish these goals through a combination of an interest-rate adjustment and capital controls.
A. The central bank has to increase the real interest rate and prevent capital outflows.
B. The central bank has to increase the real interest rate and prevent capital inflows.
C. The central bank has to decrease the real interest rate and prevent capital outflows.
D. The central bank cannot achieve the two goals simultaneously.
5. Compare two statements about exchange rates by former Treasury Secretary Henry Paulson, both from 2007: (1) “A strong dollar is in our nation’s interest.” (2) “The currency [China’s yuan] needs to appreciate, and it needs to appreciate faster.” Are the two statements consistent with one another?
A. The two statements are consistent because both imply a yuan appreciation.
B. The two statements are consistent because both imply a dollar depreciation.
C. The two statements are not consistent.
D. There is not enough information to judge the consistency of the two statements.
6. What is the difference between an appreciation and a revaluation of a currency?
A. Appreciation implies th.
Agcapita is Canada's only RRSP and TFSA eligible farmland fund and is part of a family of funds with over $100 million in assets under management. Agcapita believes farmland is a safe investment, that supply is shrinking and that unprecedented demand for "food, feed and fuel" will continue to move crop prices higher over the long-term. Agcapita created the Farmland Investment Partnership to allow investors to add professionally managed farmland to their portfolios.
1. The short-run Phillips Curve is a curve that shows the relat.docxbraycarissa250
1.
The short-run Phillips Curve is a curve that shows the relationship between the inflation rate and the pure interest rate when the natural rate of unemployment and the expected rate of inflation remain constant.
True
False
2.
At higher rates of inflation, unemployment is lower in the short-run Phillips Curve; in the long run, however, inflation has no effect on unemployment.
True
False.
3.The Federal Funds Market is actually monitored and manipulated by the Federal Reserve, but individual investors can enter the market and borrow funds if desired.
True
False
4.
One of the three main tools of the Federal Reserve is fiscal policy.
True
False
5.
The Federal Reserve's Reserve Requirement ratio can reduce the monetary base and thus the money supply.
True
False
6.
If the Federal Reserve wants to reduce interest rates and increase the velocity of money, it can utilize the open market operations tool by selling government bonds to member banks.
True
False
7.
The use of money as a medium of exchange represents the most important service that money renders.
True
False
8.
Keynes advocated government deficit spending during recessions, especially if full employment was not yet reached.
True
False
9.
ommercial banks and credit unions can create money and credit.
True
False
10. M1 includes currency, checkable deposits, and traveler's checks, but M2 does not include M1 in any way.
11.
The imposition of a tariff on foreign goods is more likely to decrease producer surplus of the domestic firms competing with those foreign firms on whom the tariff is imposed.
True
False
12.
When an American purchases a German good or invests in Germany, Euros currency is supplied and U.S. dollars are demanded.
True
False
13.
The main goal of the Federal Reserve is the unemployment rate.
True
False
14.
If the economy is in long run economic equilibrium, at potential GDP, and full employment has been reached as well, if there is an outward shift in aggregate demand, we can expect damaging inflation to start to occur and the government to seek contractionary fiscal and monetary options.
True
False
15.
If the MPC is .9, and government purchases increase by $6,000, real GDP demanded will:
a.
decrease by $60,000
b.
decrease by $6,000
c.
increase by $60,000
d.
increase by $6,000
e.
increase by $5,000
17.
Fiscal policy consists of the executive branch's decisions to tax and spend. If the economy is in an expansionary mode just coming out of a recession, in regards to aggregate demand and aggregate supply, we can assume that a tax hike will lead to
a.
the economy expanding even more as a result.
b.
aggregate demand and supply to shift inward.
c.
aggregate supply to shift inward.
d.
aggregate demand to shift inward.
e.
no changes will occur.
18.
The natural rate of unemployment is
a.
when the economy is at potential GDP.
b.
when the unemployment rate is at full employment.
.
Please be sure to give proper credit when presenting .docxjoyjonna282
Please be sure to give proper credit when presenting non-original material in the essay questions (4, 12, 17, and 29). You don't need to adhere to APA style citations, but you do need to credit non-original ideas. If you are going to cite the text, just a quick (Mishkin, p. xxx)
1. A plot of the interest rates on default-free government bonds with different terms to maturity is called
(a) a yield curve
(b) a default-free curve
(c) an interest-rate curve
(d) A risk-structure-curve
2. The higher a securities price in the secondary market the ________ funds a firm can raise by selling securities in the ________ market.
(a) More; secondary
(b) Less ; secondary
(c) Less ; primary
(d) More ; primary
3. he U.S. banking system is considered to be a dual system because
(a) banks offer both checking and savings accounts
(b) It actually includes both banks and thrift institutions.
(c) It was established before the Civil War, requiring separate regulatory bodies for the North and South.
(d) It is regulated by both state and federal governments.
4. Keynes titled his famous book The General Theory of Employment, Interest and Money, suggesting that the case of an economy reaching long-term equilibrium at full-employment was just a special case that could incorporated into his general theory. He argued that it is possible for the economy to reach a long-run equilibrium at less than full employment, as occurred in the US in the 1930s. His theory, as it relates to countercyclical fiscal policy is controversial to this day. Interest in Keynes' theory was rekindled in the wake of the financial crisis of 2008. Discuss the US policy response to the 2008 financial crisis in terms of Keynesian theory, and how the US experience of The Great Depression informed the Fed's response in 2008-current. You may wish to include a discussion of fiscal policy as well.
5. The amount of assets per dollar of equity capital is called the
(a) equity ratio
(b) Equity multiplier
(c) Asset multiplier.
(d) Asset ratio.
6. Financial markets have the basic function of
(a) Assuring that the swings in the business cycle are less pronounced.
(b) Assuring that governments need never resort to printing money.
(c) Getting people with funds to lend together with people who want to borrow funds.
(d) Providing a risk-free repository of spending power.
7. When the interest rate is ________, ________ investments in physical capital will earn more than the cost of borrowed funds, so planned investment spending is ________.
(a) low; few; high
(b) high ; many ; high
(c) low ; many ; low
(d) high ; few ; low
(e) high ; few high
8. Which of the following would a bank not hold as insurance against the highest cost of deposit outflow-bank failure?
(a) Bank capital
(b) Mortgages
(c) Secondary reserves
(d) Excess reserves
9. Which of the following are true concerning the distinction between interest rates and returns?
(a) The return can be expressed as the sum ...
1. During a recession the economy experiencesa. rising employm.docxadolphoyonker
1. During a recession the economy experiences
a.
rising employment and income.
b.
rising employment and falling income.
c.
rising income and falling employment.
d.
falling employment and income.
2. Most economists use the aggregate demand and aggregate supply model primarily to analyze
a.
short-run fluctuations in the economy.
b.
the effects of macroeconomic policy on the prices of individual goods.
c.
the long-run effects of international trade policies.
d.
productivity and economic growth.
3. The classical dichotomy refers to the separation of
a.
prices and nominal interest rates.
b.
taxes and government spending.
c.
decisions made by the public and decisions made by the government.
d.
real and nominal variables.
4. According to classical macroeconomic theory, changes in the money supply affect
a.
variables measured in terms of money and variables measured in terms of quantities or relative prices
b.
variables measured in terms of money but not variables measured in terms of quantities or relative prices
c.
variables measured in terms of quantities or relative prices, but not variables measured in terms of money
d.
neither variables measured in terms of money nor variables measured in terms of quantities or relative prices
5. Most economists believe that money neutrality
a.
does not hold in the short run.
b.
does not hold in the long run.
c.
does not hold in either the short run or long run.
d.
holds in the short run and the long run.
6. The aggregate demand and aggregate supply graph has
a.
quantity of output on the horizontal axis. Output can be measured by the GDP deflator.
b.
quantity of output on the horizontal axis. Output can be measured by real GDP.
c.
quantity of output on the vertical axis. Output can be measured by the GDP deflator.
d.
quantity of output on the vertical axis. Output can be measured by real GDP.
7. Aggregate demand includes
a.
the quantity of goods and services the government, households, firms, and customers abroad want to buy.
b.
neither the quantity of goods and services the government, households, nor firms want to buy nor the quantity of goods and services customers abroad want to buy.
c.
the quantity of goods and service the government wants to buy, but not the quantity of goods and services households, firms, or customers abroad want to buy.
d.
the quantity of goods and services households and firms want to buy, but not the quantity of goods and services the government wants to buy.
8. Other things the same, a decrease in the price level motivates people to hold
a.
less money, so they lend less, and the interest rate rises.
b.
less money, so they lend more, and the interest rate falls.
c.
more money, so they lend more, and the interest rate rises.
d.
more money, so they lend less, and the interest rate falls.
9. When the dollar depreciates, U.S.
a.
net exports rise, which increases the aggregate quantity.
1.Suppose that firms in Boversia gain confidence in the economy,.docxAlyciaGold776
1.
Suppose that firms in Boversia gain confidence in the economy, so domestic investment rises for any given interest rate. For now, assume that net capital outflows don’t change. What happens to output and the real exchange rate when the Boversian central bank holds the real interest rate constant? (Hint: Stick to the assumptions made in chapter 17.)
A.
Output increases and the real exchange rate increases.
B.
Output increases and the real exchange rate decreases.
C.
Output increases and the real exchange rate stays constant.
D.
None of the given answers are correct
2.
Suppose again that investment rises in Boversia. In this case, assume that higher confidence in the economy also causes a decrease in net capital outflows. What happens to output and the real exchange rate when the Boversian central bank holds the real interest constant. (Hint: Stick to the assumptions made in chapter 17.)
A.
Output increases and the real exchange rate increases.
B.
Output increases and the real exchange rate decreases.
C.
Output increases and the real exchange rate stays constant.
D.
None of the given answers are correct.
3.
Consider the scenario in Figure 17.4: a rise in confidence causes a fall in net capital outflows, and the central bank adjusts the interest rate to keep the exchange rate constant. For this case, what happens to consumption and investment.
A.
C increases, I increases.
B.
C increases, I is constant.
C.
C is constant, I decreases.
D.
C is constant, I is constant.
4.
Suppose government spending rises in Boversia, shifting the AE curve outward. The central bank would like to keep both output and the real exchange rate constant. How can policymakers accomplish these goals through a combination of an interest-rate adjustment and capital controls.
A.
The central bank has to increase the real interest rate and prevent capital outflows.
B.
The central bank has to increase the real interest rate and prevent capital inflows.
C.
The central bank has to decrease the real interest rate and prevent capital outflows.
D.
The central bank cannot achieve the two goals simultaneously.
5.
Compare two statements about exchange rates by former Treasury Secretary Henry Paulson, both from 2007: (1) “A strong dollar is in our nation’s interest.” (2) “The currency [China’s yuan] needs to appreciate, and it needs to appreciate faster.” Are the two statements consistent with one another?
A.
The two statements are consistent because both imply a yuan appreciation.
B.
The two statements are consistent because both imply a dollar depreciation.
C.
The two statements are not consistent.
D.
There is not enough information to judge the consistency of the two statements.
6.
What is the difference between an appreciation and a revaluation of a currency?
A.
Appreciation implies that a currency becomes more valuable as measured in units of foreign currency while a revaluation implies that the currency becomes less valuable as measured in un.
LOYOLA MARYMOUNT UNIVERSITY Econ 120 – Macroeconomics E.docxSHIVA101531
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
1
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
Multiple Choice (2 points each)
1. The spending multiplier is equal to:
A) MPC / MPS.
B) 1 / (1 – MPS).
C) MPC + MPS.
D) 1 / (1 – MPC).
2. If the marginal propensity to consume is 0.75 and the federal government increases spending by $100 billion,
the income expenditure model would predict that real GDP will increase by:
A) $100 billion.
B) $750 billion.
C) $400 billion.
D) $300 billion.
3. The money demand curve is:
A) downward-sloping because the opportunity cost of holding money is inversely related to the interest rate.
B) downward-sloping because the opportunity cost of holding money rises as the interest rate rises.
C) downward-sloping because the opportunity cost of holding money rises as the interest rate falls.
D) upward-sloping because the opportunity cost of holding money rises with the interest rate.
Figure: Policy Alternatives
4. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government increases
government spending, the result will likely be
A) an increase in unemployment.
B) a decrease in interest rates.
C) inflation.
D) deflation.
LOYOLA MARYMOUNT UNIVERSITY
Econ 120 – Macroeconomics
Examination#3
2
Econ 120 – fall 2014 Date: November 24, 2014
Instructor: Nyema Guannu
5. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government does not
intervene, the result will likely be
A) a shift of AD1 to the left.
B) a shift of SRAS1 to SRAS2.
C) a shift of LRAS to the left.
D) no change in AD or SRAS.
6. (Figure: Policy Alternatives) If the economy is in equilibrium at Y1 in panel (a) and the government decides to
intervene, it would most likely
A) increase taxes.
B) decrease the money supply.
C) increase government spending.
D) decrease government spending.
7. In the long run, an increase in AD will result in:
A) no changes in the aggregate price level.
B) no changes in the aggregate output level.
C) increases in both the aggregate price level and the aggregate output level.
D) increases in the aggregate price level but no changes in the aggregate output level.
8. Starting from its potential output, an economy's government increases spending. In the long run, this
economy:
A) will produce at an output level that is greater than its potential output.
B) will produce at its potential output.
C) will produce at an output level that is below its potential output.
D) will produce at its potential output level, but at a lower aggregate price level.
9. In the long run, the aggregate price level falls. This could result from:
A) a leftward shift in AD.
B) a rig ...
Please cite and include references- Broderick & Blewitt (2015) must.docxinfantsuk
*Please cite and include references- Broderick & Blewitt (2015) must be one of the sources (total of three references in the discussion post)
Consider the following perspective from the Just the Facts Coalition, a group comprised of counselors and other helping professionals who work with adolescent children:
Sexual orientation is not synonymous with sexual activity. Many adolescents as well as adults may identify themselves as lesbian, gay, or bisexual without having had any sexual experience with persons of the same sex. Other young people have had sexual experiences with a person of the same sex but do not consider themselves lesbian, gay, or bisexual. This is particularly relevant during adolescence because experimentation and discovery are normal and common during this developmental period. (American Psychological Association, 2013)
Straight, lesbian, gay, bisexual, transgendered, and questioning—when it comes to sexuality and sexual orientation, what influences individuals the most?
For this Discussion, review this week’s media presentation, “Perspectives: The ‘Tween’ Years,” reflecting on the factors that influence sexuality and sexual orientation during the tween years. Then, complete the post assigned to you by your Instructor.
Discussion A
Post by Day 4
an explanation of the roles that biology, culture, socialization, and age may play in influencing sexuality. Justify your response with references to this week’s Learning Resources and the current literature. Be specific.
References:
Broderick, P. C., & Blewitt, P. (2015).
The life span: Human development for helping professionals
(4th ed.). Upper Saddle River, NJ: Pearson Education.
Chapter 8, “Gender and Peer Relationships: Middle Childhood Through Early Adolescence” (pp. 282-323)
Chapter 9, “Physical, Cognitive, and Identity Development in Adolescence” (pp. 324-367)
Best, D. L. (2009). Another view of the gender-status relation.
Sex Roles, 61
(5/6),341–351.
Retrieved from the Walden Library databases.
Cobb, R. A., Walsh, C. E., & Priest, J. B. (2009). The cognitive-active gender role identification continuum.
Journal of Feminist Family Therapy, 21
(2),77–97.
Retrieved from the Walden Library databases.
Ewing Lee, E. A., & Troop-Gordon, W. (2011). Peer processes and gender role development: Changes in gender atypically related to negative peer treatment and children’s friendships.
Sex Roles, 64
(1/2),90–102.
Retrieved from the Walden Library databases.
Gallor, S. M., & Fassinger, R. E. (2010). Social support, ethnic identity, and sexual identity of lesbians and gay men.
Journal of Gay & Lesbian Social Services, 22
(3)
,
287–315.
Retrieved from the Walden Library databases.
Lev, A. I. (2004).
Transgender emergence: Therapeutic guidelines for working with gender-variant people and their families
. Binghampton, NY: Routledge.
Chapter 3, “Deconstructing Sex and Gender: Thinking Outside the Box” (pp. 79–109)
Retrieved from the W.
Please choose 1 of the 2 topics below for this weeks assignment.docxinfantsuk
Please choose 1 of the 2 topics below for this weeks assignment:
Topic 1: Rite of Passage
A rite of passage is an event that marks a person's progress from one status to another. It is a universal phenomenon which can show anthropologists what social hierarchies, values and beliefs are important in specific cultures. Rites of passage are often ceremonies surrounding events such as other milestoneh are considered important rites of passage for persons of their respective religions.s within puberty, coming of age, marriage and death. Initiation ceremonies such as baptism, confirmation and bar or bat Mitzva
I would like you to write and describe an event that you have gone through that has changed your perception of yourself, your perception by those around you, and any new roles, expectations that came along with your Rite of Passage. How has this passage changed how you interact with others? How has it changed who you interact with? Please use concepts and terms from the text to better explain your experiences.
For example; you may describe when you had your first child and the new roles that came with being a mother or father. You may describe when you got married, graduated from high school, got your driver’s license, etc.
Topic 2: Social Roles
I would like you to describe your various roles (son, daughter, mom, dad, employee, employer, aunt, uncle, brother, sister) that exist within the social institutions that you occupy. I would like you to choose only a few (no more than 3 or 4) of them that you deem important and take satisfaction in. Describe the roles, why they are important to you and what are the expectations of those roles, why you take pride in the role, and how has it changed your perspective (if it has).
1 page minimum (650-700 Words per page)
.
Please be advised that for the second writing assignment, the clas.docxinfantsuk
Please be advised that for the second writing assignment, the class is split in half. Students who choose a topic from the first half of the semester will be assigned writing assignment 2A and students who choose a topic from the second half of the semester will be assigned writing assignment 2B. Instructions are below.
Writing Assignment #2
Contemporary Issues in Employment Law
Value 300 points
Writing assignment 2A is due end of week 7 - March 11.
The following topics are assigned to Writing Assignment 2A
Remedies under Title VII
Employment at Will
Constitutional Issues
EEOC
Race and Color Discrimination
National Origin Discrimination
Disability Discrimination
Religious Discrimination
Sex Discrimination
Sexual Harassment
Overview
This Writing Assignment is required to provide students with the opportunity to:
• Investigate a “subtopic” of special interest associated with any of the major topics addressed during the course.
• Acquire in depth knowledge about a “subtopic” of choice – expanding one’s knowledge base beyond the basic course curriculum.
• Reflect on facts, theories, and opinions associated with the subtopic of choice. Develop or change an opinion about the subject.
• Communicate knowledge about chosen topic, offering learning community members an opportunity to increase their knowledge on a subtopic topic associated with the base course curriculum.
• Communicate one’s opinion on the subtopic, using critical thinking skills to form the opinion and writing skills to communicate one’s thoughts.
Instructions
1. Research the topic that you have chosen or have been assigned.
Listing for spring 2017 (listing will be available after week 3)
IMPORTANT: If using Internet based resources, ensure that resources are of high quality, such as websites that end in .gov or .edu.
Do not use the following as resources:
Law firm web sites
Law firms are trying to solicit clients. In Employment law, law firms usually represent either employers or workers - few represent both. As such, their web sites are designed to attract the clients they seek to represent. Therefore, the information contained therein may not be completely accurate as the information provided may be skewed to either a management or employee perspective.
Websites such as Wikipedia or ehow
Information found on those sites may not be reliable.
2. Organize and develop your writing assignment
Use the following format: Overview, Opinion Statements, Resource Citations.
Use the headings to divide your work into the 3 required areas in your paper.
Overview
Provide an overview of your topic using at least two resources.
Highlight the most important concepts.
The overview should be no more than 500 words. That’s about 7 – 8 average length paragraphs.
Do not place your opinions in the overview. This is an academically oriented portion of the assignment. Your opinions are welcome in the next portion of the paper.Your overview MUST include citation of sources.
Please briefly describe cross cultural variations in Consumer Beha.docxinfantsuk
Please briefly describe cross cultural variations in Consumer Behavior and explain core values that vary across culture and influence behaviors.
You must provide at least three examples.
Provide your explanations and definitions in detail and be precise. Comment on your findings. Provide references for content when necessary. Provide your work in detail and explain in your own words. Support your statements with peer-reviewed in-text citation(s) and reference(s).
.
Please be sure to organize your report using section headers to clea.docxinfantsuk
Please be sure to organize your report using section headers to clearly indicate which part of the assignment you are addressing (i.e. do not write in a classic essay format).
1)
Define the health disorder
: Colon Cancer
a. Clearly describe the symptoms, disease prognoses, type of infectious agent, if applicable, significance of this disease
2)
Distribution section – this is the most important part of the assignment!
a.
Must provide quantitative incidence, prevalence and mortality measures to describe person, place and time aspects of the disease’s distribution!
b. Quality of tools used (tables, graphs, maps)?
c. Information clearly cited within the body of the report and referenced completely at the end?
d. Described host characteristics?
e. Environmental attributes discussed clearly?
f. Any temporal characteristics to the disease’s distribution?
g. Other patterns or trends?
3)
Summation:
a. Conclusions and summary of any current hypotheses to explain the described distributions
b. Identification of any gaps in knowledge about the distribution
The overall quality of writing, organization, basic “grammar” and comprehension issues will also be considered.
.
Please attach two different assignments. Please first provide the dr.docxinfantsuk
Please attach two different assignments. Please first provide the draft for the IRP then provide the revised IRP that is finalized. It is crucial that you thoroughly check for grammatical errors.
Please do not use books or journals as references.
Please use online sources.
Requirements for final draft:
60.0
to >54.0
pts
Excellent
Plan includes the following for one data center and the global network: • Comprehensive list and explanation of potential incidents • Rating of incidents by risks as high, medium, or low, with rationale for all ratings • Mitigating controls to reduce the identified risks, with clear explanation and rational for each control • Identification of incident response team (contact list – names, titles, work and home contact information) with roles and responsibilities, and explanation of why those roles are responsibilities were assigned to each team member • Detailed and concise process to assess, describe, and document the damage with appropriate forms; explanation of rationale for each step in the process; forms clear and well laid-out • Detailed and concise incident reporting process and appropriate forms; explanation of rationale for each step in the process; forms clear and well laid-out
.
Please answers some questions below (attached references) 1.Wh.docxinfantsuk
Please answers some questions below: (attached references)
1.What are definition boundaries and how do they benefit clear thinking?
2. What is the difference between the
denotation
and the
connotation
of a word? Provide an example of a highly connotative word.
3. As critical thinkers, why should we be cautious about the use of jargon, euphemisms, and buzzwords?
.
Please answer these discussion questions thoroughly. Provide re.docxinfantsuk
Please answer these discussion questions thoroughly. Provide references for any work that is not in your own.
#1 Describe the typical social, cognitive, moral and spiritual development in the school-age child. What are some of their nutritional needs?
#2 Discuss 2 2020 National Health Goals related to adolescent growth and development. What can you do as a nurse to promote those goals you chose?
#3 What are some assessment differences that you would look for in the adolescent assessment that you would not do for other age groups?
#4 Write a nursing diagnoses related to communication and health with children. Include your interventions for the diagnosis you decide upon.
.
Please click on this link and follow the directions to complete the .docxinfantsuk
Please click on this link and follow the directions to complete the activity.
Select ONE of the scenarios and tell us how you rated it in terms of ethics and why.
Then, answer the following two questions.
1. What did you learn about ethics by completing the activity?
2. In your opinion, what does it mean to be an ethical persuader?
.
Please choose one of the following questions, and post your resp.docxinfantsuk
Please choose one of the following questions, and post your response of a minimum of 150 words. Be sure that your comments are original, thoughtful, and well developed. This discussion will be open for the whole course, so check back frequently:
1) Most films and popular scholars would say that New Kingdom Egypt is the height of their civilization, but all the "Great Pyramids" and other culturally defining ideas are from the Old Kingdom. Which do you believe is the best period which shows the height of the Egyptians, the Old or New Kingdom Egypt? Or do you think the Middle Kingdom is the height of the Egyptians? To answer this question, choose one building, site, city, or artifact which supports your belief from either the Old, Middle, or New Kingdom. For this topic, you may use an example from the textbook, but you must find supportive information that is not mentioned in the textbook about your example from an external source (website, book, or article) to support your response. Your example could also be something not mentioned in the textbook at all. Please cite your sources for this submission.
Or
2) Discuss which of the Early Greek cultures you would like to have lived in. You may choose from the Cycladic, Minoan, Mycenaean, Athenian, or Spartan. In answering this question, please give reasons why you chose the one you did, and also give one reason for each of the other cultures as to why you would NOT want to live in that culture.
Or
3) Early archaeologists went searching for physical evidence of the myths they studied, which was due to Heinrich Schliemann's finding of Troy. Was this method of searching for mythology a good idea for searching for artifacts and physical cities? This question is asked because the stories of the myths lasted for about 2600 years before someone went looking for and found the myths of the Greeks. Why didn't someone do this before Schliemann? This idea of "myth-chasing" still goes on, so what kind of modern "myth" do people search for in our present time?
.
Please answer the questions in paragraphs containing at least fi.docxinfantsuk
Please answer the questions in paragraphs containing at least five sentences. Include the question and number your answers accordingly.
1. Describe Digital Literacy (how to know what is real on the web).
2.
None of these people exist
. What does this mean to you?
3. Why is Wikipedia more reliable than a paper encyclopedia?
4. How useful are crowd sources answers?
5. What are some drawbacks to crowd sourced answers?
6. Do people generally utilize the diversity of sources on the Internet effectively?
7. How reliant are we and how reliant should we be on getting our news from social media?
8. How do humans remain vigilant when we turn over authority to computers? Have you tried to navigate without gps?
9. If models are simplifications or reality, why do we rely on them?
10. Why was this
mode
l, used by Amazon for hiring, wrong?
11. Why did Skynet declare war on the human race?
.
Please answer the following three questions in one to two paragraphs.docxinfantsuk
Please answer the following three questions in one to two paragraphs. Please format your responses in 12
point font, double spaced, with 1-inch margins. This assignment is due on Canvas at 11:59 PM PST on
Friday, November 6th.
1. What is \centrality" in a network context? What is the difference between degree centrality and
closeness centrality? When might we want to use a measure like closeness centrality to discuss someone’s
position in a social network instead of degree centrality? What about transitivity? When might we
care more about transitivity than we do about centrality as researchers?
2. What is \contagion" in a network context? Describe one example of network contagion in your own life.
In your example, identify the social network (a network of classmates? a family? a workplace?), the
nature of the connection between individuals (do you exchange information? affection? money-labor?),
the directionality, and the thing spreading through the network.
3. Much of the research with which we have engaged so far is now over a decade old (if not older). What
more recent changes { social changes, technological innovations, political phenomena, etc. { may have
changed some of the conventional wisdom, findings, or scientific understandings of social networks
since this research was carried out? Please describe at least one change and walk us through what the
consequences of that change might be on current and future social network scholarship.
.
Please answer the following1. Transformational leadership and .docxinfantsuk
Please answer the following:
1. Transformational leadership and transactional leadership often occur in the same organization. How do they impact each other?
2. Explain four common transformational leadership strategies identified by Bennis and Nanus.
3. How do the practical and theoretical approaches to AL differ? Are they really describing the same type of leadership?
.
Please answer the below questionDescribe social bandwidth and s.docxinfantsuk
Please answer the below question:
Describe social bandwidth and share an experience you’ve had with this concept within your previous interactions
The post should be in 700 word limit in APA format with references and citations.
.
Please answer the following questions1.- Please name the fu.docxinfantsuk
Please answer the following questions:
1.- Please name the functions of the esophagus. Is the liver is a mixed gland?
2.- Please explain the division of the thoracic cavity.
3.- Please explain the action of the parasympathetic nervous system over: digestive system, cardiovascular system,pupil, and sweat glands.
4.- Please name the functions of the Sympathetic system. What is a nociceptor?
5.- What is the Babinski reflex? Why is important if it is present in an adult patient?
6.- Please name the 12 Cranial Nerves.
7.- What are the functions of the Cranial Nerve II, VI, and XII
8.- What is the iris? What is the importance of the vitreous humor and the retina?
9.- Please explain: glaucoma, cataracts, astigmatism, presbycusis, and tinnitus ?
10.- Please name the external ear parts. What is the function of the Eustachian tube ?
Thank you.
.
Please answer the following questions1.- Please name the follow.docxinfantsuk
Please answer the following questions:
1.- Please name the following body parts in common words: sternal, pedal, popliteal, and antecubital.
2.- Which organs are located in the left hypochondriac region, and right iliac region ?
3.- Please name the process whereby the end products of digestion move across the walls of the alimentary canal into the blood: ___________
4.- Please name all the organs and sphincters, of the Digestive system.
.
Please answer the following questions with supporting examples and f.docxinfantsuk
Please answer the following questions with supporting examples and full explanations.
Analyze how policies influence the structure and financing of health care, practice, and health outcomes.
Develop institutional, local, state and/or federal policy initiatives.
Consider the role of government and various professional organizations in the process of planning and implementing policies at management levels for diverse healthcare environments.
Examine the effect of legal, ethical, and regulatory processes on nursing practice (and/or change to providers), healthcare delivery, and outcomes while maintaining balance with administrative and fiscal responsibilities.
Interpret research, bringing the nursing perspective, alongside perspectives of their administrative colleagues, for policy makers and stakeholders.
Advocate for policies that improve the health of the public and the profession of nursing and health care administration.
For each of the learning objectives, provide an analysis of how the course supported each objective.
Explain how the material learned in this course, based upon the objectives, will be applicable to professional application.
Reflect back on your journey through this course and answer the following:
What was the most valuable thing you learned in this course?
.
Please answer the following questions about air and water pollution .docxinfantsuk
Please answer the following questions about air and water pollution (minimum 175 words total): With references
1. Why is climate change a global concern? Please provide examples.
2. What changes are being made or should be made to address air or water pollution in your area?
.
please answer the following 7 questions in its entirety. #11.C.docxinfantsuk
please answer the following 7 questions in it's entirety.
#11.C
#12. A,B,C
#13
#14. A-M
#16
#18
#19
Textbook
Brealey, R., Myers, S. C., Marcus, A. J. (2020).
Fundamentals of corporate finance
(10th ed). McGraw-Hill Education: New York, NY.
.
Please answer the questions listed below and submit in a word docume.docxinfantsuk
Please answer the questions listed below and submit in a word document.
Exercise 32
Right On.
Describe what is meant by the “linear view” used with paper documents.
Exercise 40
You Spoiled It.
Motorola, Inc., fired its CFO, Paul Liska, in January for a number of reasons related to his performance as stated by Motorola. Liska has filed a suit against Motorola for the conditions of his dismissal. Motorola, accused its former CFO of destroying evidence needed in the case, and asked the Cook County Circuit court to sanction Mr. Liska for “spoiliation” of evidence in the case. When he was fired on January 29, Mr. Liska left the company with his company laptop, and when he returned his laptop on February 17, the laptop had been “wiped.” Motorola’s forensic investigators had found that a data destruction program was run on the laptop numerous times to destroy any usable data needed by Motorola to show what Mr. Liska had been working on prior to his dismissal. Mr. Liska states that he only deleted personal files.
Do you believe that all files related to the case have been destroyed?
Are there any other places that work files related to the CFO’s accounting activities would be kept?
What would have to been done to files collected from a source other than Mr. Liska’s laptop?
Would these files be acceptable in a courtroom case?
Exercise 27
Finding a Criminal.
Five customers at the Tartu Bank had complained about unauthorized monies being withdrawn from their accounts. The Bank has a business fraud team which was called together to investigate the thefts from the accounts. The team could determine the account receiving the funds, times the events occurred, the amount of the cash withdrawn from the accounts, whether a bank password had been reset, but they did not have the skills to develop additional information about the IP address used in the thefts. They could not determine the source country or region, the IPS involved, and whether the session used to withdraw the cash was from an IP used by their customer. Tell them how they can use Internet tools to further identify the cyber criminals and describe the job each tool should perform.
.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
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Macroeconomics 201 Answer all 25 multiple choice questions..docx
1. Macroeconomics 201
Answer all 25 multiple choice questions.
1. Which is not a function of money?
a) unit of account; b) medium of exchange; c) means of
measure; d) store of value
2. Since the 1980s, it has generally been the view that the
money supply:
a) is completely controlled by the central bank;
b) cannot be controlled by the central bank;
c) is completely controlled by the Treasury;
d) cannot be controlled by the Treasury
3) Which of the following is not one of the three kinds of
demand for money in Keynes?
a) speculative;
b) precautionary; c) administrative;
d) transactions
4) Which of the following is not one of the ways the Fed can
use to try to affect the money supply?
a) change the discount rate;
b) change the fed funds rate;
c) change the reserve requirement ratio;
d) open market operations
5) Expansionary policy is used to:
a) try to fight inflation;
2. b) try to decrease output, income, and employment;
c) try to increase output, income, and employment;
d) try to increase deflation
6) There is a tension between these two characteristics of banks
in a fractional reserve banking system:
a) private profit seeking enterprises and susceptible to runs;
b) private profit seeking enterprises and engage in money
creation;
c) engage in money creation and susceptible to runs;
d) engage in runs and susceptible to money creation
7) The liquidity trap is:
a) the horizontal portion of the money demand function;
b) when interest rates are so low people do not think they can
go any lower;
c) when interest rates are insensitive to changes in the Money
supply;
d) all of the above
8) The limits to KEMP are:
a) I may be insensitive to changes in i, i may insensitive to
changes in Ms, Y may be insensitive to changes in I;
b) I may be insensitive to changes in Y, I may be insensitive to
changes in i, i may be insensitive to changes in Ms;
c) I may be insensitive to changes in i, i may be insensitive to
changes in Ms, Y may be insensitive to changes in i;
d) I may be insensitive to changes in i; Ms may be insensitive to
changes in i, Y may be insensitive to changes in I
9) The limits to KAIMP are:
3. a) only works for demand-pull inflation, Fed may overshoot its
mark and cause a recession;
b) only works for cost-push inflation, Fed may overshoot its
mark and cause a recession; c) only works for demand-push
inflation, Fed may overshoot its mark and cause a recession;
d) only works for cost-pull inflation, Fed may undershoot its
mark and cause a recession
10) In the endogenous view of the money supply:
a) the Ms curve is vertical;
b) the Ms curve is horizontal;
c) the Md curve is vertical;
d) the Md curve is horizontal
11) Deficit Hawks view deficits as causing:
a) high investment rates; b) deflation; c) high interest rates; d)
all of the above
12) Deficit Doves believe that:
a) deficits cause high interest rates;
b) high interest rates cause bigger deficits;
c) deficits are always good;
d) all of the above
13) In the functional finance view, bond sales:
a) finance deficit spending;
b) add to bank reserves depleted by deficit spending;
c) drain excess reserves to maintain short term interest rates;
d) none of the above
14) In the functional finance view, taxes:
4. a) finance government spending;
b) create a demand for government bonds;
c) create a demand for government currency;
d) all of the above
15) In the functional finance view:
a) the government needs the public’s money to spend;
b) the public needs the government to accept its money;
c) the government needs the public to need its currency;
d) both b and c
16) The view that the national debt is a burden on future
generations is held by:
a) deficit hawks; b) deficits doves; c) functional finance; d) a
and b
17) The view that the government is the monopoly issuer of the
currency is held by:
a) deficit hawks; b) deficit doves; c) functional finance; d) b
and c
18) Which describes KEMP:
a) Ms↑ ( i↑ ( I↑ ( Y↑;
b) Ms↑ ( i↓ ( I ↓-- Y↑;
c) Ms↑ ( i↓ ( I↑( Y↑;
d) Ms↑ ( i↓ (I↑ ( P↓
19) In the endogenous money view:
5. a) deposits create loans;
b) reserves create loans;
c) loans create deposits;
d) deposits create reserves
20) The most common method the Fed uses to try to affect the
money supply is:
a) reserve requirement ratio; b) discount rate; c) open market
operations; d) fed funds rate
21) What are the tools of monetary policy?
a) government spending and taxes;
b) money supply and interest rates;
c) money demand and interest rates;
d) government supply and tax rates
22) In the endogenous view of the money supply, everything
begins with:
a) the supply of credit;
b) the demand for credit;
c) the supply of loanable funds;
d) none of the above
23) The Fed can try to increase the money supply by:
a) selling discount rates;
b) buying discount rates;
c) selling bonds;
d) buying bonds
6. 24) The Fed can try to decrease the money supply by:
a) raising the discount rate;
b) lowering the discount rate;
c) lowering the reserve requirement ratio;
d) raising the money supply
25) When money is used to settle debt it is functioning as:
a) a means of purchase;
b) a means of value;
c) a means of payment;
d) a medium of account
PAGE
1
Government Budgets and the National Debt.ppt
Government Budgets and the National Debt
Three Paradigms for Evaluating Budgetary Policies
Government Budgets and the National Debt
Three are three general paradigms concerning government
deficits and the national debt:
Deficit Hawk, Deficit Dove, and Functional Finance.
First, let’s keep in mind some basic definitions.The government
budget is the relation between government spending, G, and tax
7. revenues, T, in one year.
If G = T then this is a balanced budget.
If G > T, there is a budget deficit.
If G < T, there is a budget surplus.
The National Debt is the accumulation of all past deficits (and
surpluses).
Deficit Hawk View
Deficit Hawks take the view that budget deficits and the
national debt are almost always and everywhere bad for the
economy. The deficit hawk argument usually includes some
combination of the following five points.
Deficit Hawks
1. Deficits cause inflation – Because most Hawks accept the
basic neoclassical theory, they view the economy as tending to
full employment. Since budget deficits increase aggregate
demand, they will tend to set off inflationary pressures in a full
employment—or near full employment—economy.
Deficit Hawks
2. Deficits cause high interest rates – Accepting the neoclassical
view of savings and investment and interest rate determination,
Hawks view government spending that is financed by borrowing
(i.e., deficits), to be coming out of a fixed ‘pool’ of savings.
Government is thus competing with the private sector for
savings, bidding up interest rates.
8. Deficit Hawks
3. Deficits ‘crowd out’ private spending – Related to the
previous points, if government and the private sector are
competing for a fixed pool of savings to finance their spending,
government spending financed by borrowing decreases the
resources leftover for financing private expenditure. Thus any
increase in deficit spending “crowds out” (is exactly offset by)
decreases in private spending. And if the economy is at Yf,
government can only employ resources if they are taken away
from their employment in the private sector.
Deficit Hawks
4. The national debt is a burden on future generations. They
have to pay the debt.
Deficit Hawks5. Government deficits and debt are generally
immoral. Hawks often make an
analogy between government deficits and debt and household or
business debt.
Deficit Doves
Take the view that deficits can be okay under certain
circumstances—it depends on the economic context. But Doves
also devote a lot of attention to issues of defining and
measuring deficits and the debt, often arguing that they are not
as big as they might appear.
9. Deficit Doves
1. Are deficits being measured in constant or current dollars?
Doves argue that it is
wrong to compare deficits between years in current dollars,
because the value of the dollar has changed. One way of
correcting for this is to look at deficit/GDP ratios (and
debt/GDP ratios). These ratios are also important for Doves,
because they argue that a larger GDP means we can afford a
bigger deficit or debt.
Deficit Doves
2. The Federal Government doesn’t keep a capital account. So
when there is a large capital expenditure it looks like a lot has
been paid out in this period and the budget doesn’t reflect the
services that will last for years.
Deficit Doves
3. The Government owns assets. The Government may have a
debt, but it also owns asset land, buildings, stocks, gold, water
sewage treatment plants, hospitals, schools, etc.
Deficit Doves
4. State and Local Budgets often not considered. Often the
Federal budget is discussed, even though historically Federal
deficits have been offset by surpluses at the State and local
levels.
Deficit Doves
10. 5. Government agencies own government debt. It is argued that
in this case, we really do “owe it to ourselves.”
Deficit Doves
6. We should examine the “full employment deficit” Doves
argue that much of the deficit is due to unemployment. When
there is unemployment, income is lower, so tax revenues are
lower, and government spending on various assistance for the
unemployed is higher.
Deficit Doves
7. Balance budget over the business cycle, rather than in one
year. Doves argue that one year is an arbitrary amount of time.
Instead, it makes more sense to run deficits during recessions
and surpluses during booms, so that the budget is balanced over
the cycle and debt is not growing.
Deficit Doves
8. Debt is not a burden on future because we are also creating
assets for the future.
Doves also argue that the debt will be paid to those in the future
as well.
Deficit Doves
9. Doves argue that if deficits and high interest rates are
correlated, the causality
goes the opposite way—from high interest rates to big deficits.
When interest rates are high, interest payments are high,
11. pushing deficits higher.
Deficit Doves
10. To the extent the analogy with households and firms is
applicable, Doves think it supports their view. Well-managed,
responsible debt is not a bad thing for households and firms—
same with government.
functional finance
The Functional Finance view says both Hawks and the Doves
are wrong.
functional finance
1. In a Modern Money system, the purpose of taxation is to
create a demand for—and give a value to—unbacked currency.
functional finance
2. The Federal Government is the monopoly issuer of the
currency. The
government doesn’t need the public’s money; the government
needs the public to need its money to give it value.
functional finance
3. The purpose of bond sales is not to finance spending, but to
drain excess reserves created by deficit spending. This is
necessary to maintain positive short term interest rates.
12. functional finance
4. In the functional finance view, the relation of G and T
doesn’t matter – all that matters are the effects of any policy.
functional finance
5. “Printing money” can have no effect on the economy
independently of the six different fiscal operations (taxing,
spending, giving, taking, lending, and
borrowing). To consider the effects of printing money and these
six would be to
double count.
functional finance
6. The sound money, sound finance view of the Hawks treats the
modern money
system as if it were a gold standard. The gold standard is a
fixed exchange rate system; modern money is (and must be) a
flexible exchange rate system—not only no gold standard, but
no currency board, no pegged currencies, no fixed exchange
rates of any kind.
functional finance
7. Doves are wrong because by saying that the deficit is not
really as big as it seems, or that we can balance the budget over
the cycle, they are giving in to the Hawk view that it matters
whether we deficit spend, how big the deficit or debt is, and
whether we balance or not!
13. functional finance
8. The deficit is just accounting information – it tells us how
much the public wants to ‘net save’. In a closed economy, (G –
T) = (S – I), that is, the public deficit equals the private surplus.
functional finance
9. The national debt is just accounting info. It is the record of
government’s draining of excess reserves to maintain short term
interest rates. It might be better called the “IRMA” (interest
rate maintenance account) than the national debt.
functional finance
10. The national debt is not a burden on the future, because
there can be no
financial burden on a state money monopolist.
Macro Policy Debates1.ppt
Macro Policy Debates
neoclassical monetarists, Keynesians, and supply-side
economics
Quantity Equation
MV = PY (sometimes MV = PQ or MV = PT)
14. M = money supply
V = velocity of circulation of money (how many times a dollar
changes hands per year)
P = price level
Y = real output
Quantity Equation
MV = aggregate spending
PY = total value of sales
Since every purchase is a sale, must be true by definition
Quantity Equation
MV = PY
It is actually an “identity”—meaning it is true by definition.
Therefore, differences must come from the way the variables are
interpreted, and the conclusions derived from the
interpretations.
Quantity Equation
Suppose there is $20 in the economy.
So M = 20. And I have it.
I use it to buy some milk from you.
I buy 5 gallons at $4 per gallon.
Then, in the same time period, you buy one economics textbook
from me for $20.
15. Quantity Equation
First Round Second Round
M = 20 same M
V = 1 V = 1
P = $4 P = $20
Y = 5 Y = 1
Quantity Equation
M = $20 and there was a total of 2 transactions, so MV = $40.
P in the first round was $4 and Y in the first round was 5, so PY
in the first round was $20. In the second round, PY is 20 x 1 =
$20.
$20 + $20 = $40.
Monetarists
Monetarists claim that V is constant or stable (predictable).
Therefore, if M increases PY increases, if M decreases PY
decreases. But monetarists are neoclassicals, so they believe
that output is at full employment in the long run, so Y is also
fixed (natural rate of growth and self-adjusting to full-
employment). Thus there is a direct relation between the money
supply and the price level. And causality goes from M to P. So:
If M increases, P increases.
If M decreases, P decreases.
Monetarism
Since monetarists view V as constant, they hold the position
that fiscal policy cannot result in any change in aggregate
spending. Increases in government spending are offset by
16. corresponding decreases in private expenditure. If the increase
in government spending is financed by taxes, they argue that
this will decrease disposable income and thus reduce spending.
The drop in Yd will be divided between a drop in C and a drop
in S. The drop in S will result in less I, so that the fall in C + I
will exactly offset the rise in G—crowding out.
Monetarism
If the government expenditure is financed by borrowing, then
this decreases the loanable funds available for private
borrowing for investment and the purchase of consumer
durables. This increased competition for a fixed pool of savings
bids up the interest rate. So, for the monetarists, increased
government expenditure necessarily means decreased private
expenditure. ‘Crowding-out'.
MonetarismSo monetarist policy is for minimal government
expenditures (police, military, etc.). Increase the money supply
at 3% per year, since that is what they believe the natural rate
of growth is- 3%. So if Y is growing at 3% per year, we
increase the money supply by 3% per year so there will be just
enough aggregate demand to buy the national output, but not out
of control inflation. Velocity is supposed to be growing at a
constant rate of 3% per year, so P will also be constant at 3%
per year.
Keynesians
For Keynesians, things are much more variable. First, Y does
not tend to Yf, so it is likely to be below Yf. There are two
versions of the Keynesian story, with exogenous Ms and
17. endogenous Ms. With exogenous Ms, fiscal policy either
depends on V being variable, or must be accompanied by
complementary monetary policy. As far as V, we can think
about the multiplier. Keynesians believe that V is variable.
The multiplier affect is not the result of an increase in the
money supply; rather it depends on the changeability of V. The
same dollar, so to speak, turns over more times in a given time
period. The monetarists are right when they say that if V were
constant, there could be no increase in aggregate spending
without an increase in the money supply. It's just that the
monetarists have been unable to prove that V is constant. They
have conceded, in the face of empirical evidence, that V is
variable in the short run.
KeynesiansKeynesians also disagree in their interpretation of Y.
They of course say that Y will likely be at a below full-
employment equilibrium. Therefore fiscal and monetary policy
may affect Y, unless at Yf, then P will be affected. Obviously
if we are at full-employment, then P will rise if aggregate
spending rises. With an endogenous Ms, the increase in G
increases Y, if Y is less than Yf, and the Ms increases
endogenously.
Keynesians
But if we are at less than full employment, then an increase in G
will not crowd out private expenditures, because the increased
expenditure is in effect utilizing unused resources, not taking
them away from the private sector. Same with an increase in
M- it can result in an increase in Y.
18. Keynesians
If the increase in G is financed by taxes, the monetarists say
that it will be crowded out due to the decrease in disposable
income. But this misses the whole point of the balanced budget
multiplier. If it is financed by borrowing, the monetarists argue
that this reduces the loanable funds available for borrowing.
But Keynesians don't believe that investment is financed out of
a pool of savings, nor that the interest rate is determined by S
and I (modern forms of credit, etc.). So i won't be bid up,
either.
Keynesians
Fiscal policy works because either:
1) Y increases by V increasing;
2) Y increases leading to M increasing, either:
a) because coordinated with monetary policy;
b) M increases by fiscal policy;
c) causality runs from Y to M
(endogenous money)
Stagflation
simultaneous recession and inflation
1970s
Keynesians criticized because they were accused of not being
able to explain stagflation, supposed to be a trade-off between
unemployment and inflation; not supposed to be able to have
both
19. stagflationThe reason that Keynesians were supposedly unable
to explain stagflation is because, traditionally, unemployment
was due to insufficient aggregate demand and inflation was due
to excess aggregate demand. How can you have too much and
too little of something at the same time?
stagflation
We can use the aggregate supply-aggregate demand (AS-AD)
analysis to look at the stagflation issue. We will assume for
now a textbook aggregate demand curve (with real balance
effects and so downward sloping to the right). The aggregate
supply curve in the following graph is a Keynesian one,
horizontal up to full employment and then vertical.
AD-AS Analysis
P
Y
AS
AD1
P*1
Ye*2
Yf
P*3
0
AD2
AD3
stagflation
Start at Yf, with the price level at P*1. Insufficient aggregate
demand would shift the AD curve in from AS1 to AS2, and
20. output, income, and employment would drop to Ye*2. Excess
aggregate demand would shift the AD curve out from AD1 to
AD3, causing prices to rise from P*1 to P*3. So there can be
either unemployment or inflation, but not both.
StagflationThe Keynesian reply was simple. If the inflation was
due, not to excess demand but to supply-side factors, in other
words if it was cost-push rather than demand-pull inflation, then
stagflation is easy to explain. In that case, rising costs, such as
due to the OPEC oil crisis, shifts the AS curve up, causing a
recession with rising prices.
AD-AS Analysis
P
Y
P*1
Ye*1
P*2
0
AS1
AS2
Ye*2
The Decline of Keynesianism and the Rise of Supply-Side
Economics
But it was too late for Keynesian economics. Stagflation was
just the straw that broke the paradigm’s back. With the election
of Ronald Reagan as President in 1980, supply-side economics
would be given a chance.
21. MONEY.ppt
MONEY
Monetary History,
Theory, and Policy
What is Money?Many definitionsAt the end of the day, money
is anything that functions as moneyWhat are the functions of
money?
functions of money
Unit of account – means of measuring the comparable worth of
goods and services; standard of value
Medium of exchange – a. means of purchase (money exchanges
directly for goods and services); b. means of payment (means of
settling debt)
Store of value – means of accumulating wealth; money as an
end-in-itself
fractional reserve bankingIn a fractional reserve banking
system, banks keep some fraction of total deposits on reserve to
meet the normal demand of depositorsThe fraction of deposits
kept on reserve are required reserves, the remaining portion of
deposits are excess reserves and are available for lending and
investing
22. characteristics of fractional reserve banking system
Banks are private, profit-seeking enterprises;
Through lending, spending, and redepositing, banks affect the
money supply;
Banks are susceptible to a run on the bank
Tension between #1 and #3: banks want to earn profits, and so
want to lend reserves, but don’t want to be vulnerable to a run,
so don’t want to lend too much
Central banksIn U.S., the Federal Reserve, or “Fed”A central
bank is like a bank for private banks:
1. lend reserves to private banks – they charge interest on
loans, called the discount rate
2. hold private banks’ reserves
demand for moneyTransactions demand – stable, determined by
mpc and conventionPrecautionary demand - stable, determined
by mpc and conventionSpeculative demand – determined by
relation between two rates of interest:1. current actual rate
(ic)2. expected future rate (ie)
speculative demand To understand how the speculative demand
for cash is determined by the relation of the two rates of
interest, must understand:1. investor motto: buy low and sell
high2. inverse relation between bond prices and interest rates
23. speculative demandIf ic < ie then people think that interest rates
are going to go up, so they think that bond prices are going to
go down, so they sell bonds and hold cash (speculative demand
for cash is high)If ic > ie then people think that interest rates
are going to go down, so they think that bond prices are going
to go up, so they buy bonds with all available cash (speculative
demand for cash is low)
Money Demand
Interest Rate
Quantity of Money
MD
i
0
three ways central bank can attempt to affect the money supply
Set reserve requirement ratio - % of deposits banks must keep
on reserve (least used method; money supply is too sensitive to
changes in rrr)
Set discount rate – rate of interest charged for borrowing
reserves (intermediate method – 5-7 times per year)
Open market operations – buying and selling bonds (used most
often; daily)
methods of attempting to control the money supplyTo try to
increase the money supply:decrease rrr; decrease d.r.; buy
bonds
To try to decrease the money supply:increase rrr; increase d.r.;
sell bonds
24. money supplyIf the central bank is able to control the money
supply, the money supply is “exogenous,” and the money supply
curve is vertical.
Exogenous Money Supply
Money Supply (Ms)
Interest Rate
Quantity of Money
i
M1
0
Shift inward of Money Supply (Exogenous Money Supply)
Ms1
Interest Rate
Quantity of Money
Ms2
M1
M2
0
Shift outward of Money Supply (Exogenous Money
Supply)
Ms1
Interest Rate
Quantity of Money
Ms2
25. M1
M2
0
money supplySince the mid-1980s, it has become widely argued
that the central bank cannot control the money supply, and that
the money supply is “endogenous,” so that the money supply
curve is horizontal. In this case, the money supply is
determined by market forces, in particular the demand for
money or the demand for credit. In this case, it is the short-term
interest rate that central banks control directly.
Endogenous Money Supply
Ms1
Interest Rate
Quantity of Money
i
0
endogenous money supplyIn this view, when households and
firms increase their demand for loans, the Fed and private banks
are said to accommodate the demand for credit. Credit is
extended and investment increases, increasing output and
income. Higher income means higher savings, and these
savings are redeposited in the banking system.
endogenous money supplyThis depiction of the money supply
process fits in very nicely with Keynes’s view of the
26. investment-savings relationship and capitalism as a demand-led
system. Just as Keynes turned the investment-savings relation
on its head, likewise, in this view loans create deposits rather
than the other way round.
Incorporating endogenous money into the Keynesian view of the
investment-savings relation
savings are redeposited into banks, replenishing reserves
depleted initially by the loans and even increasing reserves
Institutional mechanisms banks can use to try to extend their
lending capacity
1. Fed Funds – member banks of the Federal Reserve system can
borrow reserves from one another. These reserves are called
“Fed Funds” and the rate of interest they pay is the Federal
Funds rate, the inter-bank lending rate set by the Fed.
Institutional mechanisms banks can use to try to extend their
lending capacity
2. Foreign banks – U.S. banks can borrow dollars from foreign
banks, that are not regulated by the Fed and so have no reserve
requirements in dollars. These reserves used to be called
“Eurodollars” but it is no longer only European banks that lend
and the creation of the “Euro” currency makes the terminology
confusing (what would we call the Euros European banks
borrow from abroad, “Euroeuros”?
27. Institutional mechanisms banks can use to try to extend their
lending capacity
3. certificates of deposit (CDs) – these are savings accounts that
must keep a minimum balance for a minimum length of time.
The key to understanding how they are used to extend lending
capacity is that the rrr on CDs is lower than on other types of
accounts. Banks can use CDs to extend lending capacity in two
ways:
Using CDs to Extend Lending Capacityi. offer new, attractive
CDs to attract new customers, increasing reserves;ii. change
current customers over from regular deposits, e.g., checking
accounts, to CDs, decreasing the average rrr.
Institutional mechanisms banks can use to try to extend their
lending capacity
4. Repos (repurchasing agreements) – a repo is, in general, an
agreement between a buyer and a seller to reverse a transaction
at a specified time in the future (often the next day) at a
specified price. So a bank will sell $1 million worth of bonds
today and agree to buy them back tomorrow for $1.01 mil. The
first bank will get to “hold” $1 mil. Overnight, increasing its
average reserve holdings over that period (banks do not have to
meet their reserve requirements at every moment in time, just
on average over a two-week period). The second bank will get
to earn something on its excess reserves.
Institutional mechanisms banks can use to try to extend their
28. lending capacity
5. open market operations – selling bonds to obtain reserves,
with or without repos attached.
Institutional mechanisms banks can use to try to extend their
lending capacity
6. Fed as “Lender of Last Resort” (LLR) – borrow reserves from
the Fed, at the discount rate (rate of interest Fed charges banks
to borrow reserves). This is called going to the “discount
window”. Fed is LLR in the sense that it is the ultimate lender
of dollars, and in the sense that banks use it as the last resort,
because there can be penalties for repeatedly failing to meet
reserve requirements.
money supply and demand, and the equilibrium rate of
interestThe equilibrium rate of interest in Keynes is determined
by the intersection of money supply and money demand
curves.Assume an exogenous money supply for the time being.
Exogenous Money Supply
Money Supply (Ms)
Interest Rate
Quantity of Money
Money Demand (MD)
M*
i*
0
29. Keynesian Monetary PolicyMonetary policy is the attempt to
affect macroeconomic variables such as aggregate output,
income, employment and the price level through changes in the
money supply and interest rates.Expansionary policy seeks to
expand output and employment; anti-inflationary policy seeks to
control inflation.Assume exogenous money supply for now.
Keynesian Expansionary Monetary Policy (KEMP)
The Fed increases the money supply through its available
mechanisms (rrr, dr, omo). This causes interest rates to fall,
increasing investment, causing output, income, and employment
to expand.
Keynesian Expansionary Monetary Policy (KEMP)
Ms1
Interest Rate
Quantity of Money
MD
Ms2
i*1
i*2
M1
M2
0
Limits of KEMP
Keynesian Expansionary Monetary Policy has three limits.
Interest rates may be insensitive to changes in the money supply
30. (liquidity trap)
Liquidity Trap – horizontal portion of the money demand
function. When interest rates get so low that no one thinks they
can get any lower, so no matter how much money the Fed
throws into the system, people just hold onto it, waiting for
interest rates to rise and bond prices to fall.
Liquidity Trap
Interest Rate
Quantity of Money
MD
Ms2
iLT
M2
M3
Ms3
0
Liquidity Trap
Limits of KEMP
Keynesian Expansionary Monetary Policy has three limits.
2. Investment may be insensitive to changes in interest rates
(recall all of Keynes’s’ warnings about inverse, mechanistic
relation between interest rates and investment).
Limits of KEMP
Keynesian Expansionary Monetary Policy has three limits.
3. Output may be insensitive to changes in investment. (either if
the economy is at full employment—in which case why pursue
expansionary monetary policy—or, if the mpc is falling faster
31. than investment is increasing.
Keynesian Anti-Inflationary Monetary Policy (KAIMP)
Fed decreases money supply, causing interest rates to rise,
causing investment to slow, decreasing inflation.
(here P↓ is usually a slowing of inflation rather than deflation)
Keynesian Anti-Inflationary Monetary Policy (KAIMP)
Ms1
Interest Rate
Quantity of Money
MD
Ms2
i*1
i*2
M1
M2
0
Limits of KAIMPKeynesian Anti-Inflationary Monetary Policy
has two limits.
1. It is only effective for “demand-pull” inflation—inflation due
to excess demand. If there is “cost-push” (or supply-side)
inflation, it may not be effective and could even exacerbate it
(though higher finance costs, for example).
32. Limits of KAIMPKeynesian Anti-Inflationary Monetary Policy
has two limits.
2. The Fed can overshoot its mark and the fall in investment
may cause output and employment to fall, which can even cause
a recession.
Keynesian Fiscal and Monetary PoliciesIn general, fiscal policy
is seen as more direct, stronger, and more effective, and
monetary policy is seen as more indirect, weaker, and less
effective.In the Post-War “golden age” of U.S. capitalism
(approximately 1946-1971), a combination of fiscal and
monetary policies were used, called “fine-tuning” the
macroeconomy.
Supply-Side Economics.ppt
Supply-Side Economics
“Reaganomics,” Monetarism, and Military Keynesianism
Cornerstones of Supply-Side Economics in the 1980s
1) supply-side tax cuts for business to provide incentives for
firms to produce, and tax cuts for households to promote the
incentive to work in the labor market
Cornerstones of Supply-Side Economics in the 1980s
33. 2) Shift in the composition of government spending away from
social programs (including job training and education) to
military spending—but no net decrease in government spending
Cornerstones of Supply-Side Economics in the 1980s
3) Contraction of the money supply to fight inflation—supply-
siders in the early 1980s accepted the monetarist view of the
quantity theory insofar as there being a direct relation between
M and P.
Cornerstones of Supply-Side Economics in the 1980s
4) Deregulation of industry and financial institutions—to cut
costs, promote efficiency, and remove cumbersome laws and
regulations.
Cornerstones of Supply-Side Economics in the 1980s
5) Don’t worry about demand, Say’s Law holds.
Say’s Law—
“supply creates its own demand”
SUPPLY-SIDE ECONOMICS
year GNP deficit tax cuts trade deficit notes
1981 (Ms contracted to fight inflation; i rise 23.5%)
1982 -2.5% $128b 5% $ 38.4 U x 2 to 9.5%
1983 +3.6% $208 10% $ 64.2 9.5% unempl.
1984 +6.0% $185 10% $122.4
1985 +3.3% $212 $133.6
34. 1986 +2.7% $221 $155.1
1987 +3.4% $150 $170.3
1988 +4.4% $155 $137.1
1989 +2.5% $153 $129.4
1990 +1.0% $220 $123.4
1991 -. 7% $269 $ 86.3
supply-side in the 80s1981: Reagan entered office in 1981-
first attacked inflation: anti-inflationary measures are policies
that favor creditors over those in debtmoney supply was sharply
contracted- Supply siders are monetarists when it comes to
monetary policy; both monetarists and supply-siders are
neoclassicals- did bring inflation under control - monetarist
would say because of direct relation between M and P; but what
would Keynes say happens when M supply is contracted?
Interest rates should go up? In fact, interest rates shot up
23.5%!
supply-side in the 80s1982: GNP fell 2.5% as unemployment
nearly doubled until 12 million officially out of work. Reagan
tax cuts begin (5%), and deficits increase by over 64% or $50b
to over $128b. Biggest recession since before WWII (up to that
time).
supply-side in the 80s1983: GNP rises 3.6%, but that is just
1.1% increase in output from two years previous- deficit
expands 62.5% to a whopping $208 billion (almost triple from
when Reagan entered office) as more tax cuts (10%) and trade
deficit rises 67% from $38.4b to 64.2b. No improvement in
unemployment- still 9.5% unemployed.
35. supply-side in the 80s1984: so-called 'recovery' GNP rises by
6%, but another $185b deficit; and trade deficit up 90% to
$122.4b. Another 10% tax cut leading to another $433b in
deficits in next two years.
Supply-Side EconomicsLogic of Supply-Side Tax Cuts:
-Tax cuts for workers give them an
incentive to work, work harder and work more hours.
- Tax cuts for businesses means firms will
invest and produce more.
Supply-Side Tax Cuts—Workers Problems: After-tax income is
important to workers. But it is only one -- a very important one,
but nevertheless only one -- part of total job satisfaction. Job
security, work environment, many other factors are also
important, as numerous studies have shown. What is happening
to the job security index when unemployment shoots up to
double digits in the Reagan recession? What is happening to the
work environment index when deregulation kicks in?
Moreover, to enjoy the incentive of take home pay, you have to
have some pay to take home, and so these incentives mean
nothing for the unemployed.
Supply-Side Tax Cuts—Firms
As far as businesses, again we go back to Keynes's emphasis on
expected profitability. It doesn't matter if taxes are smaller, if
expectations are dimmed because of a recession and
36. unemployment, firms aren't going to be increasing productive
capacity. They aren't able to sell all they can produce now. A
capital gains tax cut does nothing to guarantee investment. An
investment tax credit may help a little more, at least then there
is some incentive to invest.
Supply-Siders and Say’s Law
For both these cases, supply doesn't create its own demand.
Supply-siders are adherents to Say's Law, but Say’s law means
production generates income sufficient to purchase that
output—the national income accounting identity—but does not
guarantee that all production will in fact be purchased.
costs and revenues
Lower costs for one is lower income for others—in this case
with the tax cuts, much of that lower income resulted in lower
tax revenues for government—look at what happened to the
budget deficit following the tax cuts.
Reaganomics—the legacy
But then what about the Reagan recovery? From 1982-84 there
were over $520b in deficits—that's fiscal stimulus. The so-
called recovery was demand side, not supply side. One
indicator that this is so is the fact that there was inflation in this
period. See this with AS-AD analysis.
Reagan Recovery—supply or demand side expansion?
P
37. Y
P*1
Ye*1
0
AD1
AS1
AS2
P*2
Ye*s
Reagan Recovery—supply or demand side expansion?
If the recovery was supply-driven, then there should be an
increase in output with steady or falling prices. If the expansion
was demand-driven, output and prices would both rise.
Reagan Recovery—supply or demand side expansion?
P
Y
P*1
Ye*1
0
AD1
AS1
P*2
Ye*s
AD2
Reagan Recovery:
38. why didn't it last?
1) This was military Keynesianism- the tax cuts combined
with no decrease in G but a shift in the composition of spending
to military expenditures gives us a multiplier effect but a low
one—there is no inner growth dynamic to military spending.
Reagan Recovery:
Why didn't it last?
2) redistribution of income from poor to rich meant
redistribution from those with a higher mpc to those with a
lower mpc—and so a lower multiplier.
Reagan Recovery:
why didn’t it last
3) booming trade deficit—without a full employment policy,
this becomes a problem, because reverse multiplier effect—
declining competitiveness in US manufacturing, refusal to try to
limit capital flight, protect domestic industry
Reaganomics: why didn’t it last?
4) deregulation of the banking system—led to S&L crisis; $500
billion + taxpayer bailout
39. Reaganomics: problems
5) contrary fiscal and monetary policy—expansionary fiscal,
anti-inflationary monetary…
Reaganomics: problems
6) decline in infrastructure and
education/skill level of the labor force
Reaganomics: problems
1990-91—Worst recession since WWII up to that time.
End of supply-sideEnd of the supply-side era: $4.2 trillion debt
run-
7.5% unemployment
ClintonomicsWith the run-up of the national debt, Democrats
took a political strategy of trying to call the Republicans
fiscally irresponsible. The Democrats were very upset about
deficit dove positions that said deficits and the debt were ok.
They didn't want to hear that deficits weren't a problem and
maybe they were even good sometimes and we shouldn't fret
over the debt. So that by the end of the eighties, the two parties
are both claiming to be the 'really' fiscally responsible one,
against those terrible deficits and the national debt, and any
common sense that had been represented in the mainstream
policy debate vanishes into thin air.
40. Reaganomics and “Big Government”
Several Reagan advisors reveal that the Reagan administration
purposely ran up deficits and the debt to try to bankrupt big
government—tax cuts leading to big deficits were the only path
to “downsizing” big government.
“It’s the Economy, Stupid!”
A key part of "It's the Economy Stupid!" Economics is budget
balancing, deficit reduction. The deficit did fall; the budget
even moved into surplus. But that was not the cause of the
Clinton expansion, it was the result of rising incomes and the
automatic stabilizers. By the turn of the century we have Al
Gore running on paying down the debt, surplus uber alles, and
putting money in a “lock-box.” The private sector is racked with
debt, and the U.S. circa 2000-2001 looked more and more like
Japan in the early 90s, where interest rates at zero for years did
nothing to stimulate the economy.
Tweedle-dee and Tweedle-dum
Debates over issues like social security are fraught with
fallacies and misunderstandings concerning the modern money
system and budgetary and employment policy. Republicrats and
Demublicans alike do not understand modern money or
functional finance.
The Neoclassical-Keynesian Synthesis.ppt
41. The Neoclassical-Keynesian Synthesis
Real Balance Effects and the Neoclassical Response to Keynes
The Neoclassical Response to the Keynesian Critique
Some neoclassical economists became Keynesians
Some tried to ignore Keynes
Some misinterpreted Keynes as arguing that sticky wages and
prices could cause unemployment in the long run (this result
was already in neoclassical economics—if that is all that
Keynes was arguing, then Keynes was not making a new
contribution).
Neoclassical Response to Keynes
4. This next response was the most interesting: it said, “Keynes
is making some real contributions and we should recognize that.
His theory of the multiplier, his argument that we should
conduct aggregate analysis and that money should play a
central, determining role, even his liquidity preference theory,
are all real contributions and should be incorporated into the
analysis.”
Response to Keynes“But,” this response continued, “if Keynes
is saying he is refuting neoclassical theory he is going too far.”
“Because,” they said, “it can be shown that all of these
contributions can be incorporated into the broader neoclassical
framework and it can still be demonstrated that the central
proposition of neoclassical macro theory still holds.”
42. Central Proposition of Neoclassical MacroThey argued: “It can
still be shown that if wages, prices, and interest rates are
perfectly flexible that the economy will tend to full employment
in the long run.”The argument will look a little different, it
won’t be simply the old neoclassical labor and loanable funds
markets story.
Grand Neoclassical-Keynesian SynthesisThis argument, which
came to be known as the neoclassical synthesis, used the real
balance effects arguments to demonstrate their proposition.The
real balance effects has two parts: the direct real balance effect,
or Pigou effect, and the indirect real balance effect, or Keynes
effect, or interest rate effect.
Real Balance EffectsThe real balance effect argument begins by
noting that in Keynes if there is unemployment, or aggregate
supply is greater than aggregate demand, firms will cut back
production, income will fall, and employment will fall.But, they
ask, what if instead of cutting output, firms cut prices in
response to insufficient demand? And if this occurred
throughout the economy, the price level would fall (there would
be deflation). Deflation means that the real value of money
would rise.
Direct Real Balance
(or Pigou) Effect
43. When AS>AD, the price level falls, increasing the real value of
money. Consumers and investors holding cash would feel
richer, and consumption and investment would rise. This would
set off multiplier effects, increasing output and income. As
long as AS>AD, this would continue, until full employment.
Indirect Real Balance (or Keynes or Interest Rate) Effect
Demand for Money in Keynes
Keynes asked the question: “Why would anyone hold any of
their wealth in the form of cash rather than in higher interest-
earning or profit-bearing assets?”
He gave three reasons in The General Theory: transactions
demand for cash, precautionary demand for cash and the
speculative demand for cash.
Demand for Money
Transactions demand – wealth people keep in the form of cash
to make normal daily, weekly, and monthly transactions.
Precautionary demand – in case of emergencies (flat tire,
broken arm, etc.)
Speculative demand – in case an unexpected financial
opportunity should arise, to earn higher than normal profits.
44. inverse relation between bond prices and interest rates
Suppose a bond that sells for $1000 earns $50 per year interest.
So the interest rate is 5%. Then suppose the interest rate rises
to 10%. The bond is locked in to a return of $50 per year, so
the price falls to $500. (think of the alternative of putting $1000
in the bank at 10%, it would earn $100, so no one would buy the
bond for $1000 when the return is $50 if the interest rate is
10%.).
Real balance effects and neoclassical synthesisNotice that the
RBE incorporate aggregate analysis, money as a central
determining variable, the multiplier, and liquidity preference
theory all from Keynes.Yet the central proposition of
neoclassical macro still holds—if wages, prices, and interest
rates are perfectly flexible, the economy tends to full
employment in the long run, no government intervention.
Keynesian reply to RBE
1. yes, if price level falls, real value of $ rises, but what about
the real value of non-cash assets? So, whether you feel richer
or poorer when there is deflation depends on whether
households and businesses keep their wealth in cash or non-cash
assets.
Keynesian reply to RBE
2. yes, if price level falls, real value of $ rises, but what about
the real value of debt? Debt is denominated in cash, so real
45. value goes up when price level falls. Whether households and
businesses feel richer or poorer when there is deflation depends
on the importance of debt (consumer debt, corporate debt, and
government debt as well).
Keynesian reply to RBE
3. Consideration of expectations complicates the RBE stories.
If consumers and investors do not know if prices and interest
rates will continue to fall, they may not buy (and borrow to
buy), but wait and see if they fall more. And if they do not buy
(and borrow), then prices and interest rates continue to fall.
How high will the real value of debt inflate before they think
prices and interest rates have hit rock bottom?
Keynesian reply to RBE
4. Lower prices may be good for buyers, but are they good for
sellers? It depends. If you are thinking about investing in
producing widgets because interest rates are down, and you see
the prices of widgets falling, there is a limit to how low prices
can go before it is a dis-incentive for you to expand output in
that market.
Keynesian reply to RBE
5. Indirect real balance effect reintroduces the mechanistic
inverse relation between interest rates and investment that
Keynes criticized. (this applies only to the indirect real balance
effect).
46. Keynesian reply to RBE
6. Historical experience and empirical record
a. Great Depression – deflation, but no real balance
effects. Interest rates zero, no investment.
b. Post WWII experience of industrialized nations. Many
periods of unemployment, but virtually no deflation. (slowing
of inflation not the same as deflation)