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Summer HW Set 2

Summer HW Set 2 - (c Show and explain how the economy...

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Econ 100B-01 Instructor: Yi Sun UCSC Summer 2007 Problem Set 2 Due at the beginning of the class on Tuesday, July 10 th 1. Go to the Bureau of Labor Statistics website and find under “National Employment” the following data for the 3 last months of 2006: a. Total Employed b. Total Civilian Labor Force c. Unemployment rate among all workers d. Unemployment rate among Black or African American workers 2. Problem 3, Chapter 6 of Blanchard (p.135) 3. Problem 4, Chapter 6 of Blanchard (p.135) 4. Use graphs and words to explain the following: (a) How does an increase in G affect Y, P, C and I in the short run? (b) How does an increase in G affect Y, P, C and I in the medium run?
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Unformatted text preview: (c) Show and explain how the economy adjusts from the short run to the medium run after an increase in G. 5. Use graphs and words to explain the following: (a) How does an increase in M (nominal money supply) affect Y, P, C and I in the short run? (b) How does an increase in M (nominal money supply) affect Y, P, C and I in the medium run? (c) Show and explain how the economy adjusts from the short run to the medium run after an increase in M (nominal money supply). 6. Problem 3, Chapter 8 of Blanchard (p.182) 7. Problem 4, Chapter 8 of Blanchard (p.182) 8. Problem 3, Chapter 9 of Blanchard (p.201)...
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