Ec10b Spring 2015 Pset 7


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Asked by 3 years ago
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HARVARD UNIVERSITY

                       DEPARTMENT OF ECONOMICS

ECONOMICS 10b SPRING 2015

                    Problem Set #7 (OPTIONAL!)

 (due TO YOUR SECTIONLEADER'S MAILBOX by 3 p.m. on Monday, May 4th)
  1. A country's macroeconomy begins in LR equilibrium. The country is an open
    
    economy. A permanent fall in consumer confidence reduces aggregate demand.
    
    
    
    
    
    a.     Using both an AS/AD diagram and a money market (liquidity market)
    
           diagram, explain the SR and the LR effects of this fall in consumer
    
           confidence. Assume no changes in either monetary or fiscal policy in the
    
           aftermath of this fall in consumer confidence. Even as the...
    
Ec10b Spring
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Answered by 3 years ago
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Ec10b Spring 2015 Pset 7

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Excerpt from file: HARVARD UNIVERSITY DEPARTMENT OF ECONOMICS ECONOMICS 10b SPRING 2015 Problem Set #7 (OPTIONAL!) (due TO YOUR SECTIONLEADER'S MAILBOX by 3 p.m. on Monday, May 4th) 1. A country's macroeconomy begins in LR equilibrium. The country is an open economy. A permanent fall in consumer confidence reduces

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