explain the short-run and long-run effects of the AD shock if it is temporary (i.e. lasts for one-period).

Following a period of stable inflation equal to its target value and output equal to potential, the country of Utopia is hit with an expansionary AD shock.
(i) Using the AD-AS model — with positively sloped AS curve and adaptive expectations — explain the short-run and long-run effects of the AD shock if it is temporary (i.e. lasts for one-period). (5 marks)
The central bank of Utopia uses the following rule for setting the value of its nominal policy interest rate.

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Calculate the PEDs for the Burbank–Oakland and Kansas City–St Louis routes.

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Please show two graphs that represent relationships between Y and X, one that has uncertainty or forecast error and one that does not

Please briefly respond to all of the following questions on each page. There are 3 pages of questions. This exam is a “take-home, open book” exam and posted no later….

analyze marks tax losses.

Mr Mark Lewis is employed on a luxury cruise liner which travels the Mediterranean Sea. After deductions his taxable income is AUD$150,000, (Hong Kong Dollar 790,000)   He owns a….