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Discuss the factors determining elasticity of supply. Illustarte any two (2) law of returns to scale with illustrations.
Derive the expression for the aggregate demand curve and describe why this is an aggregate demand equation.
Calculate the path of economy, that is, compute real GDP, the price level, the inflation rate and real money stock for each and every year till GDP within 1% of the potential.
The relationship between the money and prices in the classical system.
Describe the effects of fiscal policies on the economy’s production and employment.
Illustrate the relationship between the savings, capital formation and consumption.
With the help of graph, describe how the economy returns to long-run equilibrium, with no government intervention.
Describe the marginal propensity to consume and explain why it is always less than one?
In which of the given circumstances is expansionary fiscal policy more probable to lead to a short-run increase in investment? Describe?
Now assume that the Bank of Canada doesn’t want the money supply to change. What would it require to do to sterilize its foreign exchange market operation?
Suppose that all the other banks hold just the required amount of reserves. If Nan Bank Inc. decides to decrease its reserves to only the required amount, by how much would the economy's money suppl
What will happen to the nominal GDP and the price level next year if the bank of Canada keeps the money supply steady?
For each case, illustrate what happens in a closed economy and in a small open economy. Describe your answers with diagrams.
The international transactions for the country Kyleland for a particular year are reported in the table shown below.
Assume that the exchange rate between the Canadian dollar and the Euro is 2 Euros per Canadian dollar.
Where would you purchase the laptop computer if the exchange rate among the Canadian dollar and the U.S. dollar is U.S. $0.80 per Canadian dollar?
Now suppose that Mickey Mouse becomes a mean-spirited authoritarian dictator. His income is $99,996. Each of the other characters receives $1. Explain what this income distribution would appear like
Make three and four period moving average forecasts and calculate MSA for each. Which gives better forecast? What would be the prediction for week 11?
Generally there are cheaper prices for matinee performances than the evening performances. Explain why?
The advent of one man bus comprised more capital equipment: An automatically operated coin box and door control device - to name two of the capital goods which replaced the conductor.
Illustrate out the arguments in favour of policy of protection. Illustrate out the significant agreements of WTO.
The commentators on the US economy feel that the US economy fell to a recession in the year 2001 and then proceeded to a slow growth recovery due to a decline in the investment.
Parity Price is a price which maintains the ratio of prices received and paid through farmers at the same ratio as in a base year.
(Stagflation) Illustrate some of the causes of the stagflation of the year 1973 and 1979? In what ways were such episodes of stagflation distinct from the great depression of the year 1930s?
Write down the various assumptions of acceleration principle? Write down a note on nature and sources of economic growth.