Consider;

Draw and label the change that would occur on the AD/AS graph as a result of the policy action described in each. Identify what will happen as a result of the policy to the price level, employment, and real GDP.

Excerpt from FOMC Statement Released December 16, 2008

"The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to percent.

Since the Committee's last meeting labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further."

2. Excerpt from FOMC Meeting Minutes Press Release February 6, 1981

"Shortly after the November 18 meeting, incoming data indicated that the monetary aggregates were growing considerably faster than the rates consistent with the Committee's objectives for the September-to-December period... These developments were associated with additional upward pressures on the federal funds rate and other short-term interest rates; in the first statement week after the meeting, the funds rate was at about or somewhat above the upper limit of the range of 13 to 17 percent specified by the Committee, compared with an average of 14 percent in mid-November. In a telephone conference on November 26, the Committee raised the upper limit of the inter-meeting range for the funds rate to 18 percent."

3. Excerpt from Public Law 110-85 of the 110th Congress: Signed into law by President George W. Bush February 13, 2008

"To provide economic stimulus through recovery rebates to individuals, incentives for business investment, and an increase in conforming and FHA loan limits. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled.

Title I - Recovery Rebates and Incentives for Business Investment

... Sec. 101. 2008 recovery rebates for individuals.

Sec. 102. Temporary increase in limitations on expensing of certain depreciable business assets

Sec. 103. Special allowance for certain property acquired during 2008."

4.Excerpt from President Jimmy Carter's televised speech delivered October 24, 1978

"Good evening. I want to have a frank talk with you tonight about our most serious domestic problem. That problem is inflation. Inflation can threaten all the economic gains we've made, and it can stand in the way of what we want to achieve in the future.

This has been a long-time threat. For the last 10 years, the annual inflation rate in the United States has averaged 6-1/2 percent. And during the three years before my inauguration, it had increased to an average of 8 percent.

If inflation gets worse, several things will happen. Your purchasing power will continue to decline, and most of the burden will fall on those who can least afford it. Our national prosperity will suffer. The value of our dollar will continue to fall in world trade.

...Inflation is obviously a serious problem. What is the solution?

...I will concentrate my efforts within the government. We know that government is not the only cause of inflation. But it is one of the causes, and government does set an example. Therefore, it must take the lead in fiscal restraint.

...We are going to hold down government spending, reduce the budget deficit, and eliminate government waste.

We will slash federal hiring and cut the federal work force.

We will eliminate needless regulations.

...And we will oppose any further reduction in federal income taxes until we have convincing prospects that inflation will be controlled."

Chapter 2 Work Calculator Click to watch the Tell Me More Learning Objective 4 video and then answer the questions below. 1. All of the following accounts have normal debit balances EXCEPT a. Cash. b. Wages Expense. c. Common Stock. d. Accounts Receivable. 2. All of the following accounts have normal credit balances EXCEPT a. Cash. b. Accounts Payable. c. Retained Earnings. d. Wages Payable. 3. Which of the following steps would be done last when preparing a trial balance? a. List the name of the company, the title of the trial balance, and the date the trial balance is prepared. b. List the accounts from the ledger, and enter their debit or credit balance in the Debit or Credit column of the trial balance. c. Verify that the total of the Debit column equals the total of the Credit column. d. Total the Debit and Credit columns of the trial balance. Check My Work 3 more Check My Work uses remaining.HW Score: 17.47%, 0.7 of 8-29A (book/static) Question Help At September 30, 2018, the accounts of Green Terrace Medical Center (GTMC) During the last quarter of 2018, GTMC completed the following selected include the following transactions: i) (Click the icon to view the transactions.) Accounts Receivable $ 145.000 Allowance for Bad Debts (credit balance) 3,500 Read the requirements Requirement 1. Open T-accounts for A Requirements X anations) and post to the two accounts Begin by journalizing the transactions. Sales on account, $450,000. Ignore Cos 1. Open T-accounts for Accounts Receivable and Allowance for Bad Debts. Journalize the transactions (omit explanations) and post to the Date Accounts and two accounts 2018 3. Show how Green Terrace Medical Center should report net accounts receivable on its December 31. 2018, balance sheet Dec 31 Print Done loose from any list or enter any number we put Tends any Ten CHICK CHECK ATISWer parts remaining Clear All Check Answer do not show again 9 OoQUESTION 4 / 11 According to the trial balance, what is the working capital? Trial Balance Cash $ 10,000 Accounts Receivable (AR) 2,000 Inventory 3,000 Accounts Payable (AP) 2,000 Accrued Expenses (AE) $ 3,000 Revenue $ 15,000Question 1 The Unadjusted Trial Balance columns of a work sheet total $84,000. The adjusted trial balance reflects adjusting entries for the following: i. Office supplies used during the period, $1,200. ii Expiration of prepaid rent, $700. Ill. Accrued salaries expense, $500. iv. Depreciation expense, $800. v. Accrued service fees receivable, $400, (T or F) The column total for the adjusted trial balance must be $85,700, True FalseRemaining Time: 2 hours, 38 minutes, 25 seconds. Question Completion Status: QUESTION 12 The following selected accounts appear in the adjusted trial balance for Bender Company: .Accumulated 5 Depreciation Supplies .Depreciation Accounts Expense Payable Service 3Bender,7. Revenue Capital 4Bender. Drawings Instructions Identify the accounts that would be included in the post-closing trial balance. T T T Arial 3 (12pt)