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Discuss how both the fiscal and monetary policies in the United States and in the Bible relate to the model of aggregate demand and aggregate supply and the issues involved in implementing the policies.

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Darryn D'Souza
Darryn D'SouzaLv10
28 Sep 2019
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Related questions

You are responsible for economic policymaking in your country. Your desire is to eliminate inflation, keeping prices absolutely stable at P = 100, no matter what happens to output. Currently, the economy is in equilibrium at Q = 3200 (where Q = potential GDP) and P = 100. You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run. How would you respond to the following scenarios?

-A productivity decline that reduces potential output
-A deep depression in East Asia that causes a sharp decrease in net exports to the United States

Explain and illustrate how each of these events would affect aggregate demand, aggregate supply, and prices, then explain how you would respond with economic policies.

Explain how to aggregate demand changes with changes in:

 

a) Distribution of income

b) Monetary and fiscal policies  

 

Question. 7

Use the Aggregate Demand/Aggregate Supply model to explain some of the effects on SA's output and employment levels stemming from the falling value of the S.A Rand against major currencies:

7.1 Discuss briefly how selected monetary and fiscal policies could be used to mitigate against such negative effects.

7.2 Discuss how a specific macro-economic policy change has affected your particular enterprise or business unit

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