Answered step by step
Verified Expert Solution
Question
1 Approved Answer
28) (10 pts) Table 3 contains actual data for the US. Using your answers in parts 1 and 2 above as an approximate guide, consider
28) (10 pts) Table 3 contains actual data for the US. Using your answers in parts 1 and 2 above as an approximate guide, consider that the "economic reopening" started in the first quarter of 2021 while the fiscal and monetary policies adopted earlier were still impacting the economy. Consider the data between 202101 and 2022Q1. a. Circle the impact that the reopening has had on aggregate supply: decrease; increase; stay the same b. Circle the impact that fiscal and monetary policies have had on aggregate demand: decrease; increase; stay the same c. (2 pts) Which impact has been stronger? In one short sentence, use data from the table to justify your answer d. (6 pts) In no more than 4 sentences, use the knowledge acquired in the course to assess the FED's monetary policy since the pandemic Table 3: US Real GDP and Inflation 2020 2021 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 REAL GDP (Index) 116.6 106.2 114.2 115.5 117.2 119.2 119.8 121.9 121.4 121.1 INFLATION (%) 1.2 1.7 1.6 1.7 4.5 4.6 5.5 6.5 6.1
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started