In response to the economic impacts of Covid-19, the Congress passed various economic relief programs including stimulus checks to individuals, Paycheck Protection Program (PPP) to businesses, and emergency funding to state and local governments. Explain what the Congress and the government intended to achieve, using the model of aggregate demand and supply.
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In response to the economic impacts of Covid-19, the Congress passed various economic relief programs including stimulus checks to individuals, Paycheck Protection Program (PPP) to businesses, and emergency funding to state and local governments. Explain what the Congress and the government intended to achieve, using the model of aggregate demand and supply.
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- The Australia Federal Government established a AUD 2 billion grant to help sectors affected by the bushfires to get the support they needed to recover. Use the Aggregate Demand and Aggregate Supply Model below to answer the questions that follow. Using the Aggregate Demand and Aggregate Supply Model did the 2019/20 cause economic expansion or economic contraction in Australia. Name at least three sectors that were affected by the bushfires and examine the impact of the bush fires to the economy of Australia. Employ the Aggregate Demand and Aggregate Supply Model to explain the benefits of the Australia government AUD2 billion grant to the economy.The Recovery: Utilizing the Aggregate Demand/Aggregate Supply framework describe what has happened during the recovery from the recession from May 2020 (Q2 2020) to the present March 2022 has happened to real GDP since the end of the recession in Q2 of 2020? How about inflation and unemployment? How big is the gap between actual and potential real GDP? Describe the current state of the economy relative to real potential GDP (Links to an external site.).The Australia Federal Government established a AUD 2 billion grant to help sectors affected by the bushfires to get the support they needed to recover. Use the Aggregate Demand and Aggregate Supply Model below to answer the questions that follow. Using the Aggregate Demand and Aggregate Supply Model did the 2019/20 cause economic expansion or economic contraction in Australia. Name at least three sectors that were affected by the bushfires and examine the impact of the bush fires to the economy of Australia. ANSWER: Employ the Aggregate Demand and Aggregate Supply Model to explain the benefits of the Australia government AUD2 billion grant to the economy. ANSWER:
- With reference to the Keynesian approach, explain the main components of aggregate demandDraw the aggregate demand model and show how government spending impacts the model. Please label the diagram. and inform of what has occured.#2a: As you have learned consumer expectationsLinks to an external site. are a major driver of the short run path of the economy. Consumer spending accounts for about 68% of GDP and consumer sentimentLinks to an external site. is a major factor in shifting Aggregate Demand. Do you expect consumer confidence and business expectations to improve in the months ahead? Utilizing the equation GDP= C+I+G+ (X-M) from Chapter 6 what is your forecast for the way the AD curve will shift between now and the end of 2023? Explain. Do you anticipate a recession between now and the end of 2023?
- The policies of the federal government influence the outcomes of the various activities in that economy. When government policies change or unplanned events occur, the resulting economic events or activity will usually change. Listed below is a policy or event that affect the performance of the economy: The level of investment decreases because of a lack of confidence in the economy. for the question above, describe what would be the likely outcome in the economy. Use the appropriate tools of analysis, such as aggregate demand and aggregate supply where appropriate, to justify and explain your answer.The Australia Federal Government established a AUD 2 billion grant to help sectors affected by the bushfires to get the support they needed to recover. Use the Aggregate Demand and Aggregate Supply Model below to answer the questions that follow. a) Using the Aggregate Demand and Aggregate Supply Model did the 2019/20 cause economic expansion or economic contraction in Australia. Name at least three sectors that were affected by the bushfires and examine the impact of the bush fires to the economy of Australia. b) Employ the Aggregate Demand and Aggregate Supply Model to explain the benefits of the Australia government AUD2 billion grant to the economy.The aggregate demand and the aggregate supply model allows us to examine how a variety of events can affect the economy. Explain the shape of aggregate demand curve. How do Classical and Keynesian economists differ in their view of the aggregate supply curve? In your own words, discuss which of the four sources identified with aggregate demand has caused a change in the aggregate demand for a product or service you or your employer use. Share the effect that source has had on how you or your employer contribute to the measurement of aggregate demand.
- Consider the economy represented by the aggregate demand-aggregate supply diagram, where the economy is not at full employment. Note that AD represents aggregate demand, AS represents aggregate supply, LRAS represents long-run aggregate supply and SRAS represents short-run aggregate supply. Which policy is one that a Keynesian economist might suggest to the government? eliminate quotas on imported goods increase taxes on consumers reduce government spending on bridges and roads the government builds an island off of the coast of Maryland decrease the rent because the rent is too high Show what happens in the short run on the graph if the policy moves the economy too far and the economy reaches higher than full employment. Price level Real GDP LRAS AD SRASPlease note that this is a multi part quesition; thank you so much for your time and effort it means so much to me! Figure 1: Hayek’s (Classical) AD-AS Model (Image normally goes here) Part 1: Why does Hayek’s aggregate supply curve always lead to an equilibrium level of national output equal to the full-employment level of real GDP? Part2: Hayek says that markets will heal themselves and that government should not intervene. How does the AD-AS model reflect Hayek’s idea that governments cannot increase real GDP beyond the level that the free market economy is able to produce? Part 3: Do you believe that the Hayek’s classical AD-AS model explain the factors that cause changes (shifts) in AS realistically? Why or why not?Use an aggregate demand (AD) and aggregate supply (AS) model to respond to the following questions. Explain your answers.(c) Describe a government policy that is likely to cause non-inflationary and sustained growth. (d) Good weather creates a bumper crop in Saskatchewan. How does this affect inflation and GDP in the short-run?