Macroeconomics Assignment | Get Homework Help

Hello, this is a macroeconomic assignment due 1st of June, however i may need it one day earlier (31st June). This is a fairly easy test but i cannot do this myself as I’ve got other assignments due and the workload is excessive. There is no certain word count and no sources or references are needed. Please check the attached files of the Template and the criteria/rubric to answer the questions precisely.

 

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ECON 1010 – Macroeconomics 1

Final assessment ‘Student template’

Assessment Declaration

This is an individual piece of assessment. That means it must be your own work and you can’t copy or have someone else complete any part of the work for you.

 

By submitting this assessment you are declaring that you have read, understood and agree to the content and expectations of theassessment declaration.

Student name Student number Signature (take a picture of a signature and paste here)
     

 

  • Body text to be 12pt and black (no minimum line spacing)
  • Strictly follow the Student template

 

 

 

 

 

 

 

 

 

Question 1: True, False or uncertain (16 marks)

Explain whether each of the following statement is true, false or uncertain. Start your answer by selecting one of the three statements – “True”, “False” and “Uncertain” and then provide arguments to justify your selection(be brief and concise in less than 100 words). You need to make assumption clear, reasonable and explicit if making any. The quality and logic of arguments determine your marks. (4 marks each)

 

  1. Nominal interest rates are always higher than real interest rates.

 

Answer

 

 

  1. If the lockdown measure due to a further spread of COVID-19 pandemic is extended to international flows of goods and services across the Australian border, saving in the national income account must be equal to the investment in Australia.

 

Answer

 

 

  1. The price of cars produced in Australiasold to consumers in the United States (US) goes up. This means that GDP deflator and the CPI rise in the US.

 

Answer

 

 

  1. An increase in the money multiplier (M) and a decrease in the reserve ratio (R) occur during the financial crisis.

 

 

Answer

 

 

 

 

Question 2: COVID-19 in the macroeconomy (14 marks)

Starting with the long-run equilibrium in the aggregate demand and supply (AD-AS) model. Consider the macroeconomic effects of the lockdown measures due to COVID-19. In each part of your answer, please be brief and concise in less than 100 words. You need to make assumption clear, reasonable and explicit if making any. The quality and logic of arguments determine your marks.

  1. Explainthis development in the AD-AS framework in words (Diagrammatic representation not required)(2 marks).

 

Answer

 

 

  1. Show Part a) using AD-AS figure. Ensure to include short-run supply curve (SRAS), long-run supply curve (LRAS) and aggregate demand (AD) and to label the X-axis and Y-axis of the figure. Also, mark the equilibrium price and quantity before and after the lockdown. (2 marks)

 

Answer

 

 

  1. Fiscal and monetary policy measurescan be taken as the response to the development in part a). Explain the policy measures in writing. Diagrammatic representation of the effects of these policies not required. (3 marks)

 

Answer

 

 

  1. What are the possible long run impacts of the recommended policy measures in part (c). Explain the impact in writing. Diagrammatic representation not required.

(3 marks)

 

Answer

 

 

 

 

 

 

 

  1. Continue on the long-run, the government starts to register the budget surplus after having paid off the large budget deficits incurred as the policy measured in part c). What happens to the quantities of saving and investment and (real) interest rates with this development? Explain in writing. Diagrammatic representation notrequired (Hint: try to explain the step by step). (4 marks)

 

Answer

 

 

 

Question 3: Short answers (20 marks)

For each short answer, the word limit is 100 words.You need to make assumption clear, reasonable and explicit if making any. The quality and logic of arguments determine your marks. (4 marks each)

 

  1. Donald Trump promised a more aggressive fiscal policy with a large increase in spending and significant tax cuts leading to a much larger government (budget) deficit. The US economy was at near the full employment (the unemployment rate in the US was lowbelow 5%), what do you expect will be the response of theUS Central Bank in terms ofchanges to the cash rate?Explain.

Answer

 

 

  1. The Central Bank of New Zealand has a higher inflation target than the Reserve Bank of Australia. Does this tend to depreciate or appreciate the New Zealand dollar against the Australian dollar? Explain

Answer

 

  1. What are the reasons for increasing convergence between emerging economies (defined as countries with lower GDP per capita but growing rapidly) and advanced economies (countries with high GDP per capita but lower growth)? Explain.

Answer

 

 

 

 

 

 

 

  1. You have successfully secured the mortgage of worth in $1,000,000 from the Bank to purchase a house. After the contract has been written, inflation in the economy turned out to lower than what was expected. Who gained and lost from this development? Explain.

 

Answer

 

  1. The government (and the central bank) has an easier job of dealing with the macroeconomic impacts of consumers and investors being pessimistic about the future of the economythan the period of stagflation. Do you agree? Explain

 

Answer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(End of the final assessment! Thank you, everybody for staying in this course!!!).

Assignment 3: Final Assessment ECON1010

Assignment 3: Final Assessment ECON1010
Criteria Ratings Pts
This criterion is linked to a learning outcomeQUESTION 1

A

4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not Present

Explanations no present

4.0 pts
This criterion is linked to a learning outcomeB
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not Present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeC
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeD
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeQUESTION 2

A

2.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

1.0 Pts

Satisfactory

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

0.0 Pts

Not present

Explanations not present

2.0 pts
This criterion is linked to a learning outcomeB
2.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

1.0 Pts

Satisfactory

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

0.0 Pts

Not Present

Figure not present

2.0 pts
This criterion is linked to a learning outcomeC
3.0 to >2.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

2.0 to >1.0 Pts

Satisfactory

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

1.0 to >0 Pts

Not Present

Explanations no present

3.0 pts
This criterion is linked to a learning outcomeD
3.0 to >2.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

2.0 to >1.0 Pts

Satisfactory

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

1.0 to >0 Pts

Not Present

Explanations no present

3.0 pts
This criterion is linked to a learning outcomeE
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

1.0 to >0 Pts

Not Present

Explanations no present

4.0 pts
This criterion is linked to a learning outcomeQUESTION 3

A

4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not Present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeB
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not Present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeC
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeD
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not present

Explanations not present

4.0 pts
This criterion is linked to a learning outcomeE
4.0 to >3.0 Pts

Excellent

The key information and justifications are presented clearly and concisely. Assumptions made clear and explicit with logical argument; it shows the deep understanding of knowledge in macroeconomics.

3.0 to >2.0 Pts

Good

There may be a lack of clarity, omissions and /or inaccuracies. It shows some level of understanding of macroeconomics framework, but not enough to get higher marks.

2.0 to >1.0 Pts

Satisfactory

Some of the key information missing; The arguments presented are weak in relation containing significant assertations unsupported by key information. Significant logical flaws present. In short, extremely hard to understand the main argument.

1.0 to >0 Pts

Not present

Explanations not present

4.0 pts
Total points: 50.0

 

 

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