2. Explaining short-run economic fluctuations
3. Why the aggregate demand curve slopes downward
4. Determinants of aggregate demand
5. The slope and position of the long-run aggregate supply curve
6. Why the aggregate supply curve slopes upward in the short run
7. Determinants of aggregate supply
8. Economic fluctuations I
Two Case: Increase, Decrease
9. Economic fluctuations II
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ReplyDeletedo u have these chapters
Problem Set 13 for Macroeconomics
the first question is The nominal exchange rate is the price of one currency in terms of another currency. A nominal exchange rate specifies how many units of one country's currency are needed to buy one unit of another country's currency.
Suppose the following table presents nominal exchange rate data for May 21, 2014, in terms of U.S. dollars per unit of foreign currency. Use the information in the table to answer the questions that follow.
Foreign Currency
Cost of One Unit of Foreign Currency
(Dollars)
Brazilian real (BRL) 0.4067
Canadian dollar (CAD) 0.7950
Euro (EUR) 1.2035
Japanese yen (JPY) 0.009126
Mexican peso (MXN) 0.0920
United Kingdom pound (GBP) 1.8011
Suppose that on May 21, 2014, an ornamental bookcase handmade in the United Kingdom is priced at GBP 570. The approximate U.S. dollar price of the bookcase would be .
If the nominal exchange rate for the U.S. dollar–Japanese yen rises from $0.009126 to $0.0109512 per Japanese yen, the Japanese yen in value, or , relative to the U.S. dollar.
Okay, I don't have it.
DeleteBut #1, question is about United Kingdom. Given value is 570 and Table is 1.8011. All you need to do is 570*1.8011.
For #2 I don't know. I guess is decrease or depreciate something.
Thank you for everything
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DeleteThe first one can't be (all) correct, maybe missing different versions of question? Like for example the unemployment rate increased, and unemployment rate declined are both checked?
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ReplyDeleteBadAss. Thank you! I appreciate this. I read the book. However, the terminology in this problem set make it hard to apply the concepts. Do you have any of the Money Supply problems in relation to the aggregate supply and demand model?
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ReplyDeleteGreat explanation of aggregate demand and aggregate supply! I’ve always found it fascinating how shifts in these curves can illustrate economic changes. Do you think current global economic conditions align with any specific scenarios discussed in the chapter? It would be interesting to connect these concepts to real-world examples.
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