Homework

Homework Questions? Ask a Tutor for Answers ASAP

Ask an Expert,
Get an Answer ASAP!

Homework

Macroeconomics Quick Questions

Customer Question
Needed by 10pm today 2/15/09 1.In...
Needed by 10pm today 2/15/09

1.In these question you will be given descriptions of people in various scenarios. Determine whether each individual is frictionally unemployed, structurally unemployed, or cyclically unemployed.

a.Kurt is an auto mechanic who lacks computer skills, and due to a recent surge of computerization in fixing and testing vehicles, Kurt is laid off from his company.

b.Sandeep is a business consultant for technology companies. Due to a recent recession in which a lot of technology companies went out of business, Sandeep is laid off.

c.Kara just graduated with a master's degree in economics. She's taking her time to find the best job that fits well with her background, interests, and living situation.

2.Although fluctuations in the unemployment rate are an ever-changing phenomenon, the natural rate of unemployment fluctuates much less than the actual unemployment rate. In fact, factors that affect the actual unemployment rate might not affect the natural rate.

a.Which of these would affect the actual unemployment rate?

I. Teenagers can enter the labor force at an earlier age.
II. The economy has been in an expansion for the last decade.
III. The government raises the minimum wage for manual laborers.
IV. Labor unions have become more demanding in terms of negotiating higher wages.

b.Which of the following would increase the natural rate of unemployment?
I. Teenagers can enter the labor force at an earlier age.
II. The economy has been in an expansion for the last decade.
III. The government raises the minimum wage for manual laborers.
IV. Labor unions have become more demanding in terms of negotiating higher wages.

3.Which of the following is synonymous with the natural rate of unemployment?
A. The non-accelerating inflation rate of unemployment
B. The average unemployment rate
C. Cyclical unemployment
D. The actual rate of unemployment

4.The United States witnessed an expansion almost a decade long during the 1990s, a period of significant economic growth with low unemployment.

a.What must have been true of the output gap when the U.S. economy was booming during the 1990s?
A. The output gap was negative.
B. The output gap was equal to zero.
C. The output gap was positive

b.Again consider the output gap in the United States during the expansion. Okun's Law predicts that _____.
A. The actual unemployment rate is above the natural rate
B. The actual unemployment rate is equal to the natural rate
C. The actual unemployment rate is below the natural rate

c.Again consider the output gap in the United States during the expansion.

Many economists estimate that the natural rate of unemployment is approximately 5%. (The average unemployment rate during the 1990s was estimated to be around 4%.) The short-run Phillips curve predicts that ____. (Hint: For simplicity, you can assume that the typical American expected no inflation during the expansion.)
A. The actual inflation rate is equal to the expected inflation rate
B. The actual inflation rate is less than the expected inflation rate
C. The actual inflation rate is greater than the expected inflation rate

5. As the United States began to recover from the 2001 recession, the job creation rate remained low, and the unemployment rate did not fall as much as economic theory would suggest.

Assuming that the natural rate of unemployment was relatively constant, which of the following statements helps explain how the unemployment rate could remain unchanged even as the economy expanded?

(Hint: Think about what Okun's Law predicts in terms of aggregate and potential output.)
A. Aggregate output was still declining.
B. Aggregate output was growing faster than potential output.
C. Aggregate output was growing at the same rate as potential output.
D. Aggregate output was not changing.

6. Suppose that worried about a recession, the government of the United States is thinking about increasing government spending on goods and services to stimulate the economy.

a.Which statement best identifies the view that classical macroeconomists have about expansionary fiscal policy?
A. Fiscal policy can increase aggregate output and decrease unemployment while lowering the aggregate price level.
B. Fiscal policy might be useful, but monetary policy should be considered first.
C. Fiscal policy is the best policy to bring the economy out of a recession.
D. Fiscal policy has no effect on aggregate output and unemployment in either the short run or long run.

b.What would Keynesian macroeconomists say about expansionary fiscal policy?
A. Fiscal policy can increase aggregate output and decrease unemployment while lowering the aggregate price level.
B. Fiscal policy has no effect on aggregate output and unemployment in the short run and long run.
C. Fiscal policy is the best policy to bring the economy out of a recession.
D. Fiscal policy might be useful, but monetary policy should be considered first.

c.What would monetarists say about expansionary fiscal policy?
A. Fiscal policy is the best policy to bring the economy out of a recession.
B. Fiscal policy can help, but most of the time it is counterproductive.
C. Fiscal policy can increase aggregate output and decrease unemployment while lowering the aggregate price level.
D. Fiscal policy might be useful, but discretionary monetary policy should be considered first.

d.What is the modern macroeconomic consensus on the use of expansionary fiscal policy?
A. Fiscal policy is the best policy to bring the economy out of a recession.
B. Fiscal policy has no effect on aggregate output and unemployment.
C. Fiscal policy can increase aggregate output and decrease unemployment while lowering the aggregate price level.
D. Fiscal policy might be useful, but monetary policy should be considered first.

7.In response to the U.S. recession of 2001, the Federal Reserve increased the money supply (M1) and drove down the Federal funds rate aggressively.

a.Which of the following statements about the impact of the Fed's increase in the money supply would monetarists agree with?

I. Discretionary monetary policy can have adverse effects.
II. Fiscal policy is the best policy to bring the economy out of a recession.
III. The economy will grow steadily if the Federal Reserve follows a monetary policy rule.
IV. Monetary policy should always be used with fiscal policy.

b.Which of the following statements regarding monetary policy is true according to the modern macroeconomic consensus?

I. Monetary policy should follow a monetary rule, as monetarists suggested.
II. Monetary policy should have the lead role in economic stabilization.
III. Monetary policy should reflect political interests.

c.Which of the following statements regarding fiscal policy is true according to the modern macroeconomic consensus?

I. Policy lags and the risks of a political business cycle have limited its effectiveness.
II. The central bank, not the government, should be in charge of government spending and taxes.
III. Fiscal policy should be the leading choice in economic stabilization only when monetary policy is not effective.
Submitted: 8 years ago.Category: Homework
Show More
Show Less
Ask Your Own Homework Question
Answered in 18 hours by:
2/16/2009
Tutor: KARRY, MBA replied 8 years ago
KARRY
KARRY, MBA
Category: Homework
Satisfied Customers: 153
Experience: mba (finance), bba in banking & finance. certified in ncfm nse india exams.
Verified
hello wellcome to justanswer- your prescribed deadline time has passed, if you still need the solution for these question then let me know..i am not answering them at the moment as the deadline have passed.
Ask Your Own Homework Question
Customer reply replied 8 years ago
Yes I still need the answers. Managed to get an extension.
Tutor: KARRY, MBA replied 8 years ago

hello chuck, wellcome yo justanswer

 

here are your answers/ answers are in the bold letters.

1.In these question you will be given descriptions of people in various scenarios. Determine whether each individual is frictionally unemployed, structurally unemployed, or cyclically unemployed.

a.Kurt is an auto mechanic who lacks computer skills, and due to a recent surge of computerization in fixing and testing vehicles, Kurt is laid off from his company. - structurally unemployed

b.Sandeep is a business consultant for technology companies. Due to a recent recession in which a lot of technology companies went out of business, Sandeep is laid off. - cyclically unemployed.

c.Kara just graduated with a master's degree in economics. She's taking her time to find the best job that fits well with her background, interests, and living situation. - frictionally unemployed.

 

2.Although fluctuations in the unemployment rate are an ever-changing phenomenon, the natural rate of unemployment fluctuates much less than the actual unemployment rate. In fact, factors that affect the actual unemployment rate might not affect the natural rate.

a.Which of these would affect the actual unemployment rate?

III. The government raises the minimum wage for manual laborers.
IV. Labor unions have become more demanding in terms of negotiating higher wages.


b.Which of the following would increase the natural rate of unemployment?
I. Teenagers can enter the labor force at an earlier age.
II. The economy has been in an expansion for the last decade.

 

3.Which of the following is synonymous with the natural rate of unemployment?


A. The non-accelerating inflation rate of unemployment
B. The average unemployment rate.

4.The United States witnessed an expansion almost a decade long during the 1990s, a period of significant economic growth with low unemployment.

a.What must have been true of the output gap when the U.S. economy was booming during the 1990s?
A. The output gap was positive.

b.Again consider the output gap in the United States during the expansion. Okun's Law predicts that _____.
C. The actual unemployment rate is below the natural rate

 

 

5. As the United States began to recover from the 2001 recession, the job creation rate remained low, and the unemployment rate did not fall as much as economic theory would suggest.

Assuming that the natural rate of unemployment was relatively constant, which of the following statements helps explain how the unemployment rate could remain unchanged even as the economy expanded?

(Hint: Think about what Okun's Law predicts in terms of aggregate and potential output.)
B. Aggregate output was growing faster than potential output.

 

6. Suppose that worried about a recession, the government of the United States is thinking about increasing government spending on goods and services to stimulate the economy.

a.Which statement best identifies the view that classical macroeconomists have about expansionary fiscal policy?

D. Fiscal policy has no effect on aggregate output and unemployment in either the short run or long run.

b.What would Keynesian macroeconomists say about expansionary fiscal policy?


A. Fiscal policy can increase aggregate output and decrease unemployment while lowering the aggregate price level.

 

c.What would monetarists say about expansionary fiscal policy?

D. Fiscal policy might be useful, but discretionary monetary policy should be considered first.

d.What is the modern macroeconomic consensus on the use of expansionary fiscal policy?

C. Fiscal policy can increase aggregate output and decrease unemployment while lowering the aggregate price level.

 

7.In response to the U.S. recession of 2001, the Federal Reserve increased the money supply (M1) and drove down the Federal funds rate aggressively.

a.Which of the following statements about the impact of the Fed's increase in the money supply would monetarists agree with?

III. The economy will grow steadily if the Federal Reserve follows a monetary policy rule.

b.Which of the following statements regarding monetary policy is true according to the modern macroeconomic consensus?

I. Monetary policy should follow a monetary rule, as monetarists suggested.
II. Monetary policy should have the lead role in economic stabilization.


c.Which of the following statements regarding fiscal policy is true according to the modern macroeconomic consensus?


III. Fiscal policy should be the leading choice in economic stabilization only when monetary policy is not effective.

 

they were preety questions using modern & classical views of marcoeconomic policies.

please dont forget to press accept button & add for bonuses. thanx a lot.

 

 

 

Ask Your Own Homework Question
Tutor: KARRY, MBA replied 8 years ago

one correction in question 3rd only answer

B. The average unemployment rate. is correct. not A.

Ask Your Own Homework Question
Customer reply replied 8 years ago
Sorry, I was just going over the exact numbers. Your hard work netted a total of only 4 correct answers. Also you correction was incorrect, A. was the correct answer. I'm not going to accept because of this but, as I see you have have 100% positive feedback I won't leave negative feedback. I must say I am very disappointed though.
Tutor: KARRY, MBA replied 8 years ago
This answer is protected
Would you like to ask this question?
If you've already paid for this answer, simply Login.
Ask KARRY Your Own Question
KARRY
KARRY
KARRY, MBA
Category: Homework
Satisfied Customers: 153
153 Satisfied Customers
Experience: mba (finance), bba in banking & finance. certified in ncfm nse india exams.

KARRY is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

DianeDallas, TX

< Previous | Next >

Meet the Experts:

LogicPro

LogicPro

Engineer

5,731 satisfied customers

Expert in Java C++ C C# VB Javascript Design SQL HTML

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

4,551 satisfied customers

More than 5000 online tutoring sessions.

Linda_us

Linda_us

Finance, Accounts & Homework Tutor

3,138 satisfied customers

Post Graduate Diploma in Management (MBA)

Chris M.

Chris M.

M.S.W. Social Work

2,636 satisfied customers

Master's Degree, strong math and writing skills, experience in one-on-one tutoring (college English)

F. Naz

F. Naz

Chartered Accountant

2,161 satisfied customers

Experience with chartered accountancy

Bizhelp

Bizhelp

CPA

1,887 satisfied customers

Bachelors Degree and CPA with Accounting work experience

Seanna

Seanna

Tutor

1,781 satisfied customers

3,000+ satisfied customers, all topics, A+ work

< Previous | Next >

Related Homework Questions
I need the answer key to penn american literature, 986174RR
I need the answer key to penn foster american literature, 986174RR 986175RR 986176RR 986177RR 986178RR … read more
GLENN
GLENN
Master of Mathematics
339 satisfied customers
For LogicPro only * Reading data strings from a file *
For LogicPro only* Reading data strings from a file * Convert from int based container to templates or generics based * Accommodate dynamic resizing using this algorithm: 1. Starting with a dynamic si… read more
LogicPro
LogicPro
Engineer
Bachelor of Technology
5,731 satisfied customers
Question 1 of 20: Select the best answer for the question.
Question 1 of 20 : Select the best answer for the question. 1. For what type of document would you use the landscape page orientation? A. Three-column brochure B. Business letter C. Legal contract D. … read more
GLENN
GLENN
Master of Mathematics
339 satisfied customers
5 - 5 x 5 +5. What is the answer to 5 - 5 x 5 + 5? Only that
no, only that two people using order of operations keeps getting different answers… read more
GLENN
GLENN
Master of Mathematics
339 satisfied customers
Only for F.Naz Tutor. Kindly help with a research report,
Only for F.Naz Tutor.Kindly help with a research report, the links is http://www.mediafire.com/file/bmcea6dt278nw8w/report.txt… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
If I did not look at the description which says 4 cpu cores
if I did not look at the description which says 4 cpu cores and 6 gpu core to make TEN I wonder if you can bundle the two to make an advertisement that says 10 core I also have others in the same fiel… read more
Pete
Pete
Engineer
Bachelor\u0027s Degree
1,124 satisfied customers
Below is the Sketch of the improved parking lot from 36
Below is the Sketch of the improved parking lot from 36 available parking spaces to 51 total parking spaces with 15 newly added parking spaces. The design was 4 rows were made from previously 3 rows. … read more
GLENN
GLENN
Master of Mathematics
339 satisfied customers
1. You've formatted the first paragraph of a document. What
1. You've formatted the first paragraph of a document. What button can you use to apply the formatting from the first paragraph to the next paragraph in the document? A. Cut B. Paste C. Copy D. Format… read more
Cher
Cher
JustAnswer Expert & Mentor;Teacher/Tutor
Masters Degree
1,381 satisfied customers
Question 3 of 20: Select the best answer for the question.
Question 3 of 20 : Select the best answer for the question. 3. Circular errors are caused by adding the cell name of a/an _______ cell to a formula. A. adjacent B. absolute C. active D. relativeQuesti… read more
Chris M.
Chris M.
M.S.W. Social Work
Master's Degree
2,636 satisfied customers
Are u able to help me do this question in raptor The Dash
are u able to help me do this question in raptorThe Dash Cell Phone Company charges customers a basic rate of $5 per month to send text messages. Additional rates are as follows: l The first 60 messag… read more
LogicPro
LogicPro
Engineer
Bachelor of Technology
5,731 satisfied customers
I need to do a research project for school. I want to see if
I need to do a research project for school. I want to see if motor proteins will carry their cargo to its destination under different conditions; different drugs. If they do in what condition is the c… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
I am attempting to do a netbeans java assignment and need
I am attempting to do a netbeans java assignment and need help implementing the overridden method… read more
Ingo U
Ingo U
Master\u0027s Degree
357 satisfied customers
This assignment is due by next Tuesday by midnight. Is this
Hello David! This assignment is due by next Tuesday by midnight. Is this a good amount of time for you?Complete the following questions in an MS Word Document in APA format. Double space your work and… read more
David L.
David L.
Bachelor\u0027s Degree
6 satisfied customers
NOTE: This question is a homework given by the same
NOTE: This question is a homework given by the same professor. It does not violate any honor code because same question is repeatedly asked different students. DO NOT FLAGCase Study #1: Technology & P… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
Exam Number: 584001RR Lesson Name: Microsoft Word 2016 1.
Exam Number: 584001RR Lesson Name: Microsoft Word 2016 1. Add a _______ to manually force text from one page to the next page. A. header B. blank page C. footer D. page break2. Tab stops are very usef… read more
Chris M.
Chris M.
M.S.W. Social Work
Master's Degree
2,636 satisfied customers
Penn college need answer now plz Microsoft Word 2016 1. Font
Penn foster college need answer now plz Microsoft Word 2016 1. Font size, font style, and _______ are all aspects of character formatting. A. typeface B. indentation C. line spacing. D. alignment 2. W… read more
GLENN
GLENN
Master of Mathematics
339 satisfied customers
Adrianna, a local retired music teacher and amateur concert
Adrianna, a local retired music teacher and amateur concert violinist, has recently died. Her will contains the following provisions: (i) £150,000 on trust to be shared equally between those pupils to… read more
F. Naz
F. Naz
Chartered Accountant
CA Finalist & Completed B.com
2,161 satisfied customers
When Boyajian purchased her home in Yosemite Sky Park, a
When Boyajian purchased her home in Yosemite Sky Park, a residential subdivision created for owners of small airplanes, the deed transferring title from San Joaquin Development Corporation to her incl… read more
Steven, M.Acc.
Steven, M.Acc.
Instructor
Master\u0027s Degree
252 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x