Directions: • The problem set answers should only contain answers. Do not retype the questions. • Answers for the proble

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Directions The Problem Set Answers Should Only Contain Answers Do Not Retype The Questions Answers For The Proble 1 (115.63 KiB) Viewed 19 times

Directions: • The problem set answers should only contain answers. Do not retype the questions. • Answers for the problem set have to be typed using 12 point black font and double spaced. • All answers are to be black font, typed, including any calculations. • Answers should be given in a paragraph form that provides a thorough explanation. A one sentence answer is not adequate. Even the case of calculations, they should be explained. • Graphs are to be neatly hand drawn. • Graphs are to be clearly labeled • Graphs are to be inserted into the paragraph of the answer • All answers must be submitted through Safe Assign, which checks for plagerism. You should be doing your own work. • All problem set answers have one time submit through Safe Assign. Be sure you submit your final problem set answers. (Papers are not accepted through email) • The problem set answers must have the ability to open in order to be graded. A Word document is the safest option. Please note, Google Docs is not always compatible with Blackboard. The problem set answers should be considered a formal paper and should be treated as such. Failure to follow the directions can result in a reduction of points. Questions: ( Each question is worth 25 points, Format is 25 points) The answer to the questions DO NOT require outside research. Answering the questions will allow you to show the knowledge you have gained this semester. Supporting your answers is key. 1. Using the AD/SRAS/LRAS graph, starting a Macroeconomic equilibrium (equilibrium price being $100 and the equilibrium quantity, which is the potential GDP is at $1500? Show a shift of the AD curve to the left, so the short run equilibrium is at $75 and $1000. 2. In the graph that you have drawn in question 1, what is the state of the economy? Using fiscal policy,explain how would you bring the economy back to the macroeconomic equilibrium point? Be specific. 3. In the graph that you have drawn in question 1, what is the state of the economy? Using monetary policy, explain how would you bring the economy back the macroeconomic equilibrium point. Be specific (?