In the Solow-Swan model, the higher the labor-force growth rate, the higher the Golden
Rule capital-labor ratio.
According to the Laffer curve, the higher the tax rate, the smaller the tax revenue
Other things equal, the short-run equilibrium real GDP level will increase if people
expect that the general price level will rise.
According to the IS-LM model, the larger the sensitivity of investment to the interest
rate(in absolute terms), the larger the effect of an increase in the money supply on
national income.
Suppose that the interest rate is determined by the supply and demand for loanable
funds. Other things equal, both the interest rate and national investment increase with
government spending.
In the IS-LM and AD-AS models, the lower the shot-run equilibrium general price
level, the lower the short-run equilibrium interest rate.
If the economy begins in general equilibrium, what are the equilibrium values of the
price level and the real interest rate?
If the expected price level is the price level you found in part(a), what happens to
the price level, output, and the real interest rate in the short run if there's an
unanticipated decrease in the nominal money supply to 14,737.5?
Analyze the effects of a temporary increase in the price of oil on current output, the
real wage, and the real interest rate.
Analyze the effects of a permanent increase in the price of oil on current output, the
real wage, and the real interest rate.
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