Emploment/Population ratio= 40.67%
4. Consider an economy with the following aggregate demand (AD) and short-run aggregate supply (SRAS) schedules. Decision-makers have previously made decisions anticipating that the price level during the current period will be P105.
a. Indicate the quantity of GDP that will be produced during the period.
The quantity during the current period is 5400.
b. Is it a long-run equilibrium level of GDP? Why or why not?
Yes, it is considered a long-run equilibrium level because the AD and the SRAS intersect.
c. How will the unemployment rate during the current period compare with the natural rate of unemployment? It will be in line with the natural rate of unemployment because the natural rate occurs when the aggregate supply of labor is equal to the aggregate demand for labor, which would occur in a time of equal AD and SRAS.
d. Will the current rate of GDP be sustainable into the future? Why or why not? No, it is not sustainable into the future; in order for an economy to grow the levels of supply and demand must fluctuate.
AD105 | Price Level | SRAS 105 |
6300 | 90 | 4500 |
6000 | 95 | 4800 |
5700 | 100 | 5100 |
5400 | 105 | 5400…
While reviewing the aggregate level of supply and demand, many of the same principles of basic supply and demand apply to this cycle. Aggregate supply is defined as “a schedule or curve showing the relationship between a nation’s price level and the amount of real domestic output that firms in the economy produce” while aggregate demand is “a schedule or curve that shows the various amounts of real domestic output that domestic and foreign buyers desire to purchase at each possible price level.”…
a. The current equilibrium interest rate- Each dollar save will increase at any given interest rate, so the desired saving curve as an upward-sloping supply will shift rightward. Eventually, this will cause the equilibrium interest rate to decline.
b. Current equilibrium real GDP- There is no effect on current equilibrium real GDP because people are saving now to invest in the future and in the classical model the vertical LRAS always applies.
c. Current equilibrium…
Concrete a manmade material widely and greatly used in construction Industry. This concrete is a mixture of adequate proportion of cement, water and aggregate. Hardening (or) strength of this material is obtained by the chemical action between water and cement. As the time increases the stronger it grows (i.e strength of concrete is directly proportion to its age).The durability, strength, versatility and other characteristics of concrete depends upon the properties and…
4.1 Experimental Analysis
The experimental work is carried out to evaluate the shear strength of steel fiber reinforced concrete deep beams without stirrups. For this 18 beams are cast. The beams are tested under two-point loading as per IS after 28 days curing. Fiber fraction is varied as 0%, 1.5% and 3%. The shear span-to-depth ratio (a/d ratio) for beams is kept as 0.60 for case-I and 0.74 for case-II. The cube compressive strength is estimated. The experimental results are…
quickly but for a short duration while high viscosity concrete will flow slowly but for longer duration. V-Funnel test is conducted to find its viscosity.
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The Partial replacement of cement in concrete by using sawdust ash (SDA). Analysis of both the concrete specimen i.e. normal concrete and sawdust ash concrete on the basis of workability and strength. Characteristics and composition of Sawdust ash and Sawdust ash concrete respectively is discussed. Two tests are performed for this…
Aggregate demand represents the inverse correlation between the total amount of real output demanded within the economy at various price levels in a particular period of time (Investopedia). Essentially, if the price of a product fluctuates, the rate of total spending will change along with the quantity of real output demanded (Brue, McConnell, & Flynn, 2014). The determinants, which affect the aggregate demand include consumer spending, investment spending, government spending, and net export…
In the AS/AD model, consider an economy where the level of production is below the
natural level. Would the economy stay forever in this position? Explain the adjustment process in the economy. Suggest a fiscal policy to increase output. Analyse the effect of this macro‐policy on the price level, employment and fiscal deficit. (1500 words)
The natural level of production is determined by an economy’s supply potential. In the short run an economy is usually above or below the natural rate of…