Answer:
Both socialism and communism are essentially economic philosophies advocating public rather than private ownership, especially of the means of production, distribution and exchange of goods (i.e., making money) in a society.
Explanation:
Answer:
<em>a. Par value is $10, and market price is $19. b. Par value is $5, and market price is $20.</em>
Explanation:
An increase in aggregate demand when the economy is below potential output increases real output and has little or no effect on price levels.
The Keynesian aggregate supply curve shows that the AS curve is fairly flat. This means that during economic downturns, firms supply the quantity of goods demanded at a particular price level.
The Keynesian zone is on the left side of his SRAS curve and is fairly flat, so movements in aggregate demand affect production but have little effect on price levels.
The Keynesian model suggests that in the short term less flexible wages and prices will push the aggregate supply curve upward. This model makes it more likely that the economy will fall below the full employment level. This means companies can hire new workers and increase production without raising wages or prices.
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Conducting monetary policy
Supervising and regulating depository institutions
Maintaining the stability of the financial system
Answer:
1. Inflation is best described as _____.
- an upward, general trend of prices in the economy
2. Which of the following scenarios illustrates cost-push inflation?
- An increase in the price of raw materials decreases aggregate supply, pushing prices higher throughout the economy.
3. The Consumer Price Index in 2018 was 251. In 2019, the CPI rose to 257. Calculate the inflation rate from 2018 to 2019. Round your answer to the nearest tenth of a percent.
- 2.4%
4. The Consumer Price Index of any given year provides _____.
- the relative price of a basket of consumer goods as compared to base year prices
5. The rate of inflation in a hypothetical economy is projected to be 1.5% in the coming quarter. Given this information, the Federal Reserve is likely to _____.
- make efforts to raise the inflation rate because 1.5% is below the desired rate of inflation
Explanation:
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