Econ 248 assignment 2

Question Economics Assignment 2 version A GM announced that it will close its Oshawa truck plant in and a Windsor transmission plant in Ford also plans a 10 percent cut in white-collar, salaried positions. In total, over direct jobs will be lost.

Econ 248 assignment 2

You should complete it after completing your course work for Units 4, 5, and 6. Answer each question clearly and concisely. The Canadian consumer confidence rebounded sharply in September This is a significant rebound since the plunge in October According to some analysts, the good news from Europe and the jump in the stock market appear to have had an effect on Canadian consumer confidence.

Explain the various factors that buoyed the Canadian consumer confidence in Explain and draw a graph to illustrate how a rise in consumer confidence can change real GDP and the price level in the short run. If the economy was operating at full- employment equilibrium, describe the state of equilibrium after the increase in consumer confidence.

In what way might consumer expectations have a self-fulfilling prophecy? Why do changes in consumer spending play such a large role in the business cycle? Explain how the economy can adjust in the long run to restore full-employment equilibrium.

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Draw a graph to illustrate this adjustment process. Differentiate between monetary policy instruments and monetary policy tools.

Describe the two key tools of monetary policy, and describe how they would be used by the Bank of Canada to implement a contractionary monetary policy. The World Bank hires you as its economist and asks you to 10 marks a.

Consider the Laffer curve in your explanation. Explain the concept of the multiplier, and explain the role of the marginal propensity to save MPS in determining the size of the multiplier. Explain how the size of the multiplier will change when one brings in the role of the marginal tax rate.

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Then, calculate the revised slope of the AE curve and the multiplier when you know that the imports and the marginal tax rate will reduce the slope of the AE curve by another 0. Given the above, what would you predict about the overall direction of the economy?

Explain your answer by referring to each of the indicators cited. Describe the fiscal policy that will already be automatically operating, as well as the appropriate discretionary fiscal policy that the government should adopt, given the above situation.

Describe the appropriate monetary policy that the Bank of Canada should be operating, given the above situation.

Econ 248 assignment 2

Suppose that Brazil can produce tons of wheat or tons of steel.ECON ASSIGNMENT 2 Question 1: 9 points Assume that a series of inflation rates is 1 percent, 2 percent, and 4 percent, while nominal interest rates in the same three periods are 5 percent, 5 percent, and 6 percent, respectively.

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Economics Assignment 2 (version A) This assignment has a maximum total of marks and is worth 10 percent of your total grade for this course.

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