Please answer the
following questions. Submit as a
Microsoft Word document to the Dropbox when completed.
1. Determine
whether each of the following would cause a shift of the aggregate demand
curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction?
What happens to aggregate output and the price level in each case?
a. The price level changes
i. Which curve shifts?
ii. Which direction does it shift?
iii. What happens to aggregate output?
iv. What happens to the price level?
b. Consumer confidence declines
i. Which curve shifts?
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ii. Which direction does it shift?
iii. What happens to aggregate output?
iv. What happens to the price level?
c. The supply of resources increases
i. Which curve shifts?
ii. Which direction does it shift?
iii. What happens to aggregate output?
iv. What happens to the price level?
d. The wage rate increases
i. Which curve shifts?
ii. Which direction does it shift?
iii. What happens to aggregate output?
iv. What happens to the price level?
2. Determine
whether the following statements are true or false.
i.
Some people who are officially unemployed are
not in the labor force.
ii.
Some people in the labor force are not
working.
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iii.
Everyone who is not unemployed is in the
labor force.
iv.
Some people who are not working are not
unemployed.
3. Refer to
the following data on the U.S. consumer price index and answer the questions
below.
Year CPI Year CPI Year CPI Year CPI
1988 118.3 1993 144.5 1998 163.0 2003 184.0
1989 124.0 1994 148.2 1999 166.6 2004 188.9
1990 130.7 1995 152.4 2000 172.2 2005 195.3
1991 136.2 1996 156.9 2001 177.1 2006 201.8
1992 140.3 1997 160.5 2002 179.9
a.
Compute the inflation rate for each year
1989-2006.
b.
Which years were years of inflation?
c.
In which years did deflation occur?
d.
In which years did disinflation occur?
e.
Was there hyperinflation in any year?
Directions for
Submitting your Assignment
Complete your assignment in this Microsoft
Word® document and save it as Username-MT445Assignment-Unit#.doc (Example:TAllen-MT445Assignment-Unit8.doc).
Submit your file by selecting the Unit 8: Assignment Dropbox by the end of Unit
8
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here to claim a 30% discount on this essay. Our team is made up of professionals who
have excelled in different areas of academia. Try our service and you will
never be disappointed.
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