(1) What are U.S. inflation, unemployment, GDP, GDP growth, government debt, and
ID: 1145577 • Letter: #
Question
(1) What are U.S. inflation, unemployment, GDP, GDP growth, government debt, and government deficit? What is the current state of the US economy.
(2) Difference between supply and demand, and aggregate supply and demand. Draw (aggregate) supply and demand curves, shift one or both of the curves when something happens, and interpret the results from the shift. Correctly label the curves, as well as your axes?
(3) What is aggregate supply and demand, and the factors that affect (shift) aggregate supply and demand, and the results of these shifts in the long-run and short-run on key economic variables such as the price level/inflation, output (GDP), unemployment. What is the difference between the long run and short-run aggregate supply models?
(4) What are the tools and impacts of monetary policy, including the impact on price level/inflation, interest rates, employment, and output? How changes in monetary policy affect the aggregate supply/aggregate demand model. Why monetary policy may be used, and under what economic circumstances. What are the limits/criticisms of monetary policy?
(5) What are the tools and impacts of fiscal policy, including the impact on price level/inflation, interest rates, employment, and output? Show, how changes in fiscal policy affect the aggregate supply/aggregate demand model. Explain why fiscal policy may be used, and under what economic circumstances. What are the limits/criticisms of fiscal policy?.
(6) why economists believe trade is important, and analyze the arguments for and against free trade, using economic reasoning.
(1) the statistics of U.S. inflation, unemployment, GDP, GDP growth, government debt, and government deficit. the current state of the US economy. (2 supply and demand, and aggregate supply and demand. You can count on seeing at least one question that asks you to draw (aggregate) supply and demand curves, shift one or both of the curves when something happens, and interpret the results from the shift·label the curves, as well as your axes. In discussing supply and demand changes, be sure to be clear about whether you are referring to a curve in response to a change in price), or a change in supply or demand (i.e., a (3) Aggregate supply and demand, and the factors that affect (shift) aggregate change in quantity supplied or demanded (G.e., a shift along the supply or demand shift in supply or demand due to a change in one of its determinants) supply and demand, and the results of these shifts in the long-run and short-run on key economic variables such as the price level/inflation, output (GDP), unemployment. the difference between the long-run and short-run aggregate supply models. (4 the tools and impacts of monetary policy, including the impact on price level/inflation, interest rates, employment, and output. show, how changes in monetary policy affect the aggregate supply/aggregate demand model. Also be able to explain why monetary policy may be used, and under what economic circumstances. Understand the limits/criticisms of monetary policy. (5) the tools and impacts of fiscal policy, including the impact an price level/inflation, interest rates, employment, and output. Understand, and be able to show, how changes in fiscal policy affect the aggregate supply/aggregate demand model. Also be able to explain why fiscal policy may be used, and under what economic circumstances. Understand the limits/criticisms of fiscal policy (6) why economists believe trade is important, and be able to analyze the arguments for and against free trade, using economic reasoning. F7 8 5 6Explanation / Answer
Answer 1:
Inflation rate in the United States increased 2.1 per cent year on year in December 2017. It reduced as compared to November inflation rate due to fall in the prices of gasoline and fuel prices.
The recent data shows that the unemployment rate in the United States has fallen to 4.1 per cent in October 2017.
The Gross Domestic Product of the United States for the year 2016 was $18.57 trillion.
The GDP grew by 1.6 per cent in 2016 as compared to the value in 2015.
The recent figures of government debt shows that debt held by the public was $13.62 trillion.
The U.S. federal budget deficit for fiscal year 2018 is $440 billion.
The current state of the U.S. economy shows that the economy is on the path of recovery. Inflation rate is rising because of increase in aggregate demand, economy is operating at near full employment level, deficit is rising because of expansionary fiscal policy adopted by the government. Thus, the figures show that the economy is on the path of recovery.
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