Describe the short-run and long-run effects on real output and the price level for each the following events. Assume the economy begins at short-run and long-run equilibrium. Justify your responses with reasoning.

Import prices suddenly rise.
Government institutes a significant reduction in taxes on production.
People hold off on spending because they expect prices to fall.
Government increases spending

Explain the two reasons that new growth theory treats investment in capital and investment in technology differently.
List five policies that encourage growth.

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Posted on May 12, 2016Author TutorCategories Question, Questions