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What are the three types of unemployment? Unemployment is seen by some as undesirable. Are all three types of unemployment undesirable? Could the advent of the Internet completely eliminate frictional unemployment? Are all three types of unemployment undesirable?...
Consider a production function Yt = F(Kt,Lt) = ¯AKα t L1−α t (1) and the resource constraint Yt = Ct + It + Gt and the capital accumulation equation Kt+1 = It + (1 − ¯d)Kt Consumers consume a certain fraction of the output so the consumption equation is Ct = (1 −...
Consider policy rule, IS curve, and Philips curve Policy rule ∶ Rt − ¯r = ¯m(πt − ¯π) IS curve ∶ ˜Yt = 1/1 − ¯xc [¯a − ¯b(Rt − ¯r)] Philips curve ∶ πt = πt−1 + ¯ν ˜Yt + ¯o a. Derive Aggregate Demand(AD) and Aggregate Supply(AS) curve, and draw AD and AS curve. What...
Consider following Philips Curve. ∆πt = ¯ν ˜Yt + ¯o a. Draw Philips curve. (x-axis: ˜Yt, y-axis: ∆π) What is the slope and y-intercept of the curve? b. What is the impact of the ¯ν change? Should government perform a more aggressive policy to stabilize the inflation...
Suppose we have the following short-run model. Resource constrain is Yt = Ct + It + Gt + EXt − IMt Where Yt is economy output, Ct is consumption. It is investment. Gt is government purchase. EXt is exports. IMt is imports. Government purchase depends on the current...
As the director of learning and development, you have been tasked with creating a career development program for the senior sales team of your organization. You currently support five individuals on the senior sales team. Each team member has aspirations of becoming...
