Question26 The Phillips curve in the text shows the ________ relationship between ________. negative; inflation and unemployment negative; the change in inflation and unemployment positive; inflation and unemployment positive; the change in inflation and short-term economic fluctuations negative; the change in inflation and short-term economic fluctuations ResetMaximum marks: 1 Flag question undefined单项选择题
A
negative; inflation and unemployment
B
negative; the change in inflation and unemployment
C
positive; inflation and unemployment
D
positive; the change in inflation and short-term economic fluctuations
E
negative; the change in inflation and short-term economic fluctuations
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An open economy is fully characterized by the following IS curve, monetary policy rule, and Phillips curve: IS: 𝑌 ~ 𝑡 = 𝑎 ¯ − ( 𝑏 ¯ 𝑖 + 𝑏 ¯ 𝑛 𝑥 ) ( 𝑅 𝑡 − 𝑟 ¯ ) + 𝑏 ¯ 𝑛 𝑥 ( 𝑅 𝑡 ∗ − 𝑟 ¯ ) , where 𝑅 𝑡 ∗ is the real interest abroad, 𝑎 ¯ = 𝑎 ¯ 𝑐 + 𝑎 ¯ 𝑖 + 𝑎 ¯ 𝑔 + 𝑎 ¯ 𝑛 𝑥 − 1 , and 𝑎 ¯ 𝑛 𝑥 = 𝑎 ¯ 𝑒 𝑥 − 𝑎 ¯ 𝑖 𝑚 . Monetary policy rule: 𝑅 𝑡 − 𝑟 ¯ = 𝑚 ¯ ( 𝜋 𝑡 − 𝜋 ¯ ) Phillips curve: 𝜋 𝑡 = 𝜋 𝑡 − 1 + 𝑣 ¯ 𝑌 ~ 𝑡 + 𝑜 ¯ 𝑡 Assume that 𝑎 ¯ = 0 , 𝑎 ¯ 𝑛 𝑥 = 0 , 𝑏 ¯ 𝑖 = 𝑏 ¯ 𝑛 𝑥 = 0.2 , 𝑣 ¯ = 0.5 , 𝑅 𝑡 ∗ = 0.04 , 𝑟 ¯ = 0.03 , 𝜋 𝑡 − 1 = 𝜋 ¯ = 0.02 , 𝑚 ¯ = 1 , and 𝑜 ¯ 𝑡 = 0.025 . Calculate 𝜋 𝑡 = ______ percent. Round your answer to the nearest tenth of a percent. Note: Calculate your answers for this one and the next three questions in a spreadsheet application. Enter rounded numbers in the answer box for each question. Do not, however, round your intermediate answers in the spreadsheet.
An open economy is fully characterized by the following IS curve, monetary policy rule, and Phillips curve: IS: 𝑌 ~ 𝑡 = 𝑎 ¯ − ( 𝑏 ¯ 𝑖 + 𝑏 ¯ 𝑛 𝑥 ) ( 𝑅 𝑡 − 𝑟 ¯ ) + 𝑏 ¯ 𝑛 𝑥 ( 𝑅 𝑡 ∗ − 𝑟 ¯ ) , where 𝑅 𝑡 ∗ is the real interest abroad, 𝑎 ¯ = 𝑎 ¯ 𝑐 + 𝑎 ¯ 𝑖 + 𝑎 ¯ 𝑔 + 𝑎 ¯ 𝑛 𝑥 − 1 , and 𝑎 ¯ 𝑛 𝑥 = 𝑎 ¯ 𝑒 𝑥 − 𝑎 ¯ 𝑖 𝑚 . Monetary policy rule: 𝑅 𝑡 − 𝑟 ¯ = 𝑚 ¯ ( 𝜋 𝑡 − 𝜋 ¯ ) Phillips curve: 𝜋 𝑡 = 𝜋 𝑡 − 1 + 𝑣 ¯ 𝑌 ~ 𝑡 + 𝑜 ¯ 𝑡 Assume that 𝑎 ¯ = 0 , 𝑎 ¯ 𝑛 𝑥 = 0 , 𝑏 ¯ 𝑖 = 𝑏 ¯ 𝑛 𝑥 = 0.2 , 𝑣 ¯ = 0.5 , 𝑅 𝑡 ∗ = 0.04 , 𝑟 ¯ = 0.03 , 𝜋 𝑡 − 1 = 𝜋 ¯ = 0.02 , 𝑚 ¯ = 1 , and 𝑜 ¯ 𝑡 = 0.045 . Calculate 𝜋 𝑡 = ______ percent. Round your answer to the nearest tenth of a percent. Note: Calculate your answers for this one and the next three questions in a spreadsheet application. Enter rounded numbers in the answer box for each question. Do not, however, round your intermediate answers in the spreadsheet.
Suppose the Federal Reserve decreases interest rates from 4% to 3%, which shifts aggregate demand and increases short-run output to 5.0%. If there are no other shocks to the economy, and the resulting change in inflation is 2.0 percentage points, what is the value of the parameter 𝜈 ¯ ? Round your answer to the nearest tenth.
Suppose the Federal Reserve decreases interest rates from 4% to 3%, which shifts aggregate demand and increases short-run output to 3.0%. If there are no other shocks to the economy, and the resulting change in inflation is 1.5 percentage point, what is the value of the parameter 𝜈 ¯ ? Round your answer to the nearest tenth.
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