(1) What are U.S. inflation, unemployment, GDP, GDP growth, govermment debt, and
ID: 1145629 • Letter: #
Question
(1) What are U.S. inflation, unemployment, GDP, GDP growth, govermment 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 cconomic circumstances. What are thc limits/criticisms of fiscal policy? (6) why economists believe trade is important, and analyze the arguments for and against free trade, using economic reasoningExplanation / Answer
According to the Federal Reserve, the U.S. inflation rate remained below 2 percent. The unemployment rate is 4.1 percent, GDP is $19,500.6 billion, GDP growth rate is 2-3%, Government debt is $20.1 trillion, government deficit for fiscal year 2018 is $440 billion.
The current state of the U.S. economy is healthy, GDP growth rate will rise to 2.5% in 2018 and unemployment rate will drop to 3.9% in 2018.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.