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Scott, MIT Graduate
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Assume an economy that is operating above full employment.

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Assume an economy that is operating above full employment. 1. Draw a correctly labeled AD/AS graph showing 1. the problem in the economy. 2. current price level and output. 3. full employment output. 2. Identify a fiscal policy action that could resolve the problem. On your graph in part A, show the short-run effects of the action you identified on each of the following: 1. aggregate demand 2. output 3. price level 3. Using a correctly labeled loanable funds graph, show the effect of the policy you identified in part B on real interest rates. 4. Given your answer in part C, explain what will happen to each of the following: 1. the international value of the dollar 2. the nation's exports and imports 3. the current account
Submitted: 7 years ago.
Category: Homework

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