Please explian these concepts of Ricardian Model in your own words (include what formulas/rules apply for each): 1. autarky prices 2. prices where trade occurs 3. Real wages 4. What are other parts of the model besides the three listed above
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Please explian these concepts of Ricardian Model in your own words (include what formulas/rules apply for each):
1. autarky prices
2. prices where trade occurs
3. Real wages
4. What are other parts of the model besides the three listed above
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- What would happen in Ricardian model and the Heckscher-Ohlin model, a) If one country tried to export more to the other country? b) If one country restricted the amount of imports from the other country? c) What does this imply for trade policy? Please answer correct explain plz asap plz Don't answer by pen paper plz¥ Question Completion Status: A Click Submit to complete this assessment. Quèstion 1 1- one of the most famous Classical economists is v and 2- A dictum of economist J.B. Say is 3- one of the Assumptions of the classical model is 4- Money Illusion means john Maynard Keyrs Reacting to changes in money prices rather than relative prices Pure competition does not exists. wages and prices were flexible supply creates its own demand Adam Smith A Click Submit to complete this assessment. the competitive markets are not existed(a) Discuss the basic distinction and similarities between neoclassical and Neo-Keynesian macroeconomists. Macroeconomist
- What are the limitations of using the representative agent and rational expectations model as the micro foundation of a macroeconomics ?1) Explain what will happen in a nation that tries to solve a structural unemployment problem using expansionary monetary and fiscal policy. Draw one AD/ AS diagram, based on the Keynesian model, for what the nation hopes will happen. Then draw a second AD/ AS diagram, based on the neoclassical model, for what is more likely to happen (if drawing your answer is a challenge, please describe your answers in words and/or numbers). 2) Explain why the government might prefer to provide incentives to private firms to do investment or research and development, rather than simply doing the spending itself?Using the information in the pictures below, Answer the following questions. The macroeconomic forecasts carried out by different entities are of upmost importance for the whole society and, of course, for the companies that operate in that economy. select two updated macroeconomic charts of some of the entities that monitor the economy and make forecasts. The objective is to compare different future forecasts of the entities to have a critical and well-formed view of the macroeconomic future in the USA. Based on the charts consulted, comment what is expected from the American economy in the next years in general terms. Are there differences in the forecasts? How do you think the state will act in the future based on the chart variables that inform us about its behavior? What will the behavior of families and companies be like?
- According to the lectures, which of the following ideas are representative of (neo)classical (orthodox) theory, which are representative of (post)Keynesian (heterodox) theory, and which are shared by both theories? 1. Capitalist economies tend to full employment, at least in the long run = 2. Output, income, and employment fall when money saved exceeds intended investment, until savings equals investment = 3. Demand, particularly intended investment, drives supply = 4. Capitalist economies will normally fail to reach full employment due to insufficient aggregate demand = 5. Interest rates fall when money saved exceeds the demand for those funds for investment, until savings equals investment =Question 1 a) Carefully explain the major differences between the Keynes’ and Fisher’s models ofconsumption.Review the fundamental microeconomic assumptions on the consumers’ behaviour within the neoclassical model. What are the main strengths and the main limitations of those assumptions? Discuss with theoretical and applied evidence.
- 41) Which of the following is a tool for achieving macroeconomic objectives? A) Fiscal policy B) Monetary policy C) Incomes policy D) All of the above 42) Macroeconomics is useful: A) only to governments B) only to business firms seeking to maximize their profits C) only to households seeking employment D) to all economic decision-making units 43) Consider a circular flow model with households, firms, and government. Which of the following is true? A) Households sell labour services and other resources to firms B) Households purchase resources from firms and convert them into goods and services C) The government does not purchase anything from households D) Households receive income from firms but not from the government 44) Payments such as employment insurance and welfare are called: A) employment income B) transfer payments C) compensation income D) business income 45) When households purchase government bonds, they: A) lend to the…According to the lectures, which of the following ideas are representative of (neo)classical (orthodox) theory, which are representative of (post)Keynesian (heterodox) theory, and which are shared by both theories? In equilibrium, aggregate demand (total planned spending) -- must equal output and income Demand, particularly intended investment, drives supply Supply creates its own demand Capitalist economies tend to full employment, at least in -- the long run Interest rates fall when money saved exceeds the demand for those funds for investment, until savings equals investment Saving is a leakage out of, and investment is an injection - into, the spending flow 1. (neo)classical Investment and savings are primarily functions of the rate -- of interest 2. (post)Keynesian 3. Both The paradox of thrift "In the long run, we're all dead" Capitalist economies will normally fail to reach full - employment due to insufficient aggregate demand Savings equals investment in equilibrium (ignoring…Explain what is meant by ‘macroeconomics’ and why some economists think that it is different to standard neoclassical economics. explain with graphs please.