The Multiplier: Macro Writing Assignment

The Multiplier
The Multiplier

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The Multiplier

Read this short article from the December 10, 2020 edition of The Economist: How much economic stimulus does America actually need? In the second-to-last paragraph, the author points out that the fiscal multiplier during the pandemic was only about 0.6. You may have noticed that a value of 0.6 is much smaller than any multiplier you have computed in this class.

Define the term multiplier and explain, in detail, how it is computed.

Provide an example where you take the reader through a few ‘rounds’ of additional spending generating additional income, and that income causing more consumption spending, etcetera.

Then explain why the multiplier will be smaller if people saved rather than spent their stimulus checks.

In your answer, be sure to define any economic terminology you employ.

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How ethical behaviors can impact the re-distributive policy of income tax

How ethical behaviors can impact the re-distributive policy of income tax
How ethical behaviors can impact the re-distributive policy of income tax

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How ethical behaviors can impact the re-distributive policy of income tax.

Order Instructions:

Capture this; I am against redistribute policy. I believe that redistributive is unfair to certain groups of people and it is unfair to another group of people regardless of their wealth. Income tax should be flat or proportions, same percentage for all. progressive U.S. current tax system gives negative incentives and discourages hard work. The government could support or give aid to those considered to be “less advantage” and not through taking other taxpayers earning.
Sources to be not older than 2012.

How ethical behaviors can impact the re-distributive policy of income tax

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How ethical behaviors can impact the re-distributive policy of income tax

Introduction

Taxation has always been used as a means for the governing body to earn for the purposes of provision of service to their people. It is a concept that has been there since long ago. There are however different methods through which the taxation process is carried out, income tax, value added tax and sales tax among others. This is all meant to ensure the sustenance of the social contract between the citizenry and the governing bodies. In the exercising of their taxing mandate the United States has come up with various methods that are meant to guide the process of taxation.

These methods typically need to conform to the values the society regards as ethical in order to gain acceptance among them. In so doing, the use of the redistributive system of taxation has been applied in the income tax collection. This system bears into consideration the amount of income and taxes in accordance with the same such that those who earn more pay more and vice versa. In the implementation of the same, the principle of equality was core. The taxation system additionally gives incentives to others by exempting them from taxation due to their financial situations.

Ethical behaviors and taxation

The rationality associated with decision making has long been considered as being due to the conscious and unconscious elements in our thoughts. The commitment of one to fulfill their social obligations such as the payment of tax has been premised on the principle of fairness where they are rewarded satisfactorily for their efforts (Chan, Wong and Wong, 2013). The same can be seen in taxation, in that those who feel satisfied by the services being offered by the government readily pays their taxes and are even willing to work harder in order to meet their tax obligations.

In the discharge of their taxation obligations, the government has made several rules that are intended to foster the principle of equality and social inclusion of all. The redistributive policy was thus implemented. This policy is meant to tax more for those who earn more and subsequently less for those who owe less. It is also coupled with certain incentives that are meant to cushion both businesses and individuals who earn less but have more social obligations.

The same is also meant to increase the chances of individuals in business as their risks would have been lowered by the incentive (Pastor and Veronesi, 2016). It is also meant to be a social cushion where the money saved by the incentives can be used in the performance of other social obligations in relation to the safeguarding of the basic societal provisions. In all this, the government tries to ensure equality and inclusiveness by giving the less fortunate the incentive for them to be able to provide for their basic needs.

All in all, the payment of tax is an obligation of every citizen and the incentives offered are meant to help the society by reducing their financial burdens so that they can be able to cater for their basic needs and also take risks in business ventures due to their skill set. It is therefore the general perception that in the discharge of their duty to pay tax, the citizens will be guided by their moral authority to fulfill their social obligations.

Negative impact of redistributive policy in income taxation.

The promotion of redistributive taxation and the progressive system in the imposition of the same has however led to the unethical behavior in many. This is because of the unfairness it has to the hard working Americans who toil to earn a living only to be taxed and the same used in supporting and offering essential services to those who do not work but wait on the incentives. This process of taxation is termed unfair since one is made to pay more for working harder. The cost benefits are classified as one of the factors that affect the ethical behaviors in people (Trautmann, van de Kuilen and Zeckhauser, 2013).

In the consideration of the same, the use of the redistributive system can be said to have negative implications in the motivation of citizenry generally classified as of the lower class in not seeking sources of income since they will be cushioned from paying taxes and yet receive the same basic services the others are receiving. The value of hard work and the utilization of the different talents will be diminished since preference is given to those with less as they do not have to pay but receive the services anyway….

How ethical behaviors can impact the re-distributive policy of income tax

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Macroeconomic Issues for 2018 in the Us and Europe

Macroeconomic Issues
Macroeconomic Issues

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Macroeconomic Issues

Order Instructions:
I want you to write and upload your analysis of what are the key macroeconomic issues for 2018 in the US and in Europe. Discuss the 5 below in a paragraph for each.

Five critical issues for 2018 macroeconomics are said to be:
1. tax reform shake out (Will Federal Reform work, what happens to State taxes?)
2. Can reduction in international imports to the US, raise US Exports and reignite the US GDP (Will bilateral trade agreements work to lower the trade deficit? Should it?);
3. Will Brexit cause or create Europe to grow faster?
4. Will capital formation and growth continue to reduce return to wages and increase inequality? (Will there be an increase in the productivity of labor or will it help increase wages or jobs?)
5. Other- You decide. Explain why you include this. It may be a country, a region or an economic category As the above 4.)

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Macroeconomic Issues Essay

Tax reform shake out

The tax reform shake out refers to the congressional battle to sway votes to either support or reject the proposed reforms. The reforms constitute a number of proposals from a 2016 blueprint report from the US Congress as well as the one page plan revealed by the US President in April 2017. The reforms include a reduction in marginal tax rates, expanding support for childcare, rescinding alternative minimum tax, and eliminating various deductions (O’Brien, 2017; Speaker Paul Ryan, 2016).

The tax reform could work since it is a pertinent bill that affects the lives and incomes of the majority of low to medium income earners in the country. The impacts of the reform on state taxes include a broadening of the downward flow of revenue, expansion of the tax base, and uniformity in the conformity by different states (Griffith, 2017; Kaeding & Pomerleau, 2017).

International imports to the US and bilateral trade agreements

In the attempt to correct the trade deficit, reducing the level of international imports to the US would not be the most effective approach to solving the issue. As a rebate, the trade partners might reduce their purchases from the US and lead to increased deficits. As such, a worthwhile approach would be the use of bilateral trade agreements with important trade allies such as China and Germany.

Such agreements ensure there is continued trade and sets quotas of operation where each country has a given level of exports and imports it has to provide (McTeer, 2013; Baumohl, 2012). Therefore, the bilateral agreements can help to lower the trade deficit….

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Economic macroeconomic schools of thought in the US today

Economic macroeconomic schools of thought in the US today
Economic macroeconomic schools of thought in the US today

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Economic macroeconomic schools of thought in the US today

Please read essay attached and answer the two questions below in 1000 words with 2 bibliographical resources. 

Cambridge economists: The art and science of economics at Cambridge  From the print edition | Christmas Specials Dec 24th 2016,

What are the major components of economic macroeconomic schools of thought in the US today? (Hint: Chicago School, Keynesian, Neo Keynesian, Neo Classical, Supply Side, Trickle Down, Libertarian, Austrian School, Other?) 

How do they differ from or compare to the Cambridge School?

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Major components of economic macroeconomic schools of thought in the US today

Chicago School

The Chicago school of macroeconomics is a sub-branch of the Neo-classical school of economic thought albeit with a few divergent views. The school of thought developed from intense discussions by Professors in the University of Chicago, whose ideas were mainly price based. The main identifying component of the Chicago style of macroeconomics is the preference for the monetarist theory as opposed to the Keynesian approach.

However, as with all other schools, the development of economic theory in the 20th century brought a mix of ideas from both the saltwater and freshwater schools (Ebeling, 2006). A case example for the Chicago school of macroeconomic thought is the adoption of concepts of rational expectations, sticky wages, and imperfect competition. Notable mentions from the Chicago school include Eugene Fama, Milton Friedman, and Lars Peter Hansen.

Keynesian economics

The Keynesian school of macroeconomic thought bases its theories on the works of John Maynard Keynes. The main proposition by Keynesian economists is the need for government intervention to manage the business cycle. The Keynesian school of thought is a major proponent of the aggregate demand approach of macroeconomic evaluation. The concepts of sticky wages and imperfect competition represent rigidities in the macroeconomic system for which the Keynesian economists attribute the failure to streamline the system of supply and demand through fiscal and monetary policy (Evans & Makepeace, 1979, pp. 40 – 43).

Neo Keynesian

The neo Keynesian school of macroeconomics is a post-war attempt at synthesizing the ideologies of John M. Keynes and the neo classical approach to macroeconomic theory. The fusion of market control, supply and demand, and rational choice theory came together to provide the foundations of the neo-Keynesian economics. The neo Keynesian approach began taking shape after monetarist economists cast doubts on the Keynesian theories.

The neo Keynesian approach then resulted from finding a middle ground between the Keynesian and Monetarist approaches to the analysis of the macroeconomic environment. The result of these studies was the development of the neo classical synthesis, which gave rise to the IS-LM model and the Philips curve (Arestis, 1992; Lavoie, 2014).

Neo-Classical

The neo classical economic school of thought is a collection of economists, whose ideas revolve around the exchange of goods through the assessment of outputs, and the distribution of factors through market supply and demand. The neoclassical model makes three key assumptions: rational preferences among consumers, maximization of utility and profits for consumers and producers respectively, and independent activities of consumers based on perfect information.

Varying scholars contest on a number of issues surrounding neo classical school of economics. First is the dominance of either marginalism or utility, second is whether the approach is a radical change from classical economics or simply a continuing development of ideas, and third, the numerous ideologies and differences between views and approaches aggregated into the classical approach (Weintraub, 1993; Hansen & Ohanian, 2016).

Economic macroeconomic schools of thought in the US today

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New insights on Poverty Video

New insights on Poverty Video
New insights on Poverty Video

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New insights on Poverty Video

Order Instructions:

above is the website to the video. it’s short.

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Please answer the following questions after watching the New insights on Poverty Video:

What are the different normative bases and/or underlying health care in different countries?

Are traditional indicators (equity, access, efficiency, quality, & healthy lives) the best to compare health status of citizens in different countries?

What patterns do you see?

Comment on the private vs public sector roles in delivering health care to citizens in the countries?

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Irish GDP GROWTH using the Production Function

Irish GDP GROWTH using the Production Function
Irish GDP GROWTH using the Production Function

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Irish GDP GROWTH using the Production Function

Calculate Irish GDP GROWTH  Using the Production Function

Following is the data for Ireland for 2003-2004.  Assuming the Cobb-Douglas Production Function* of the form Y(GDP) = AKalphaL(1-alpha), calculate the Total Factor Productivity growth rate for 2004________.(The Per Cent Change from 2003).   Year GDP in 2000 prices (millions of Euro) K Gross Fixed Capital Stock (millions of Euro) L Total Hours Worked (millions) Share of Labor in GDP 2003 111,255 142,310 2,855 0.522 2004 116,729 149,178 2,903 0.526
To get full credit, you must show your calculation steps. (Use Logs) Y(GDP) = AKalphaL(1-alpha),  HINT          Y=A*K( ^alpha) * L^(1-alpha) 

HINT Step 1    A= Y/K*L^ (1-alpha) 

                        Log A= Log Y- alpha log K – (1- alpha) log L

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Monetary Policies Essay Paper

Monetary Policies
Monetary Policies

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Monetary Policies

Monetary policies refer to practices of money management by the government of a given economic region. In the case of a deep depression, all or the majority of the macroeconomic indicators in a given economy move into the negative (Bodie, Kane, & Marcus, 2013, pp. 380 – 381). In such a situation, the monetary policies that such a government may engage in include printing of more money, trading in the open market, and reduction of interest rates.

On the other hand, fiscal policy refers to actions by the government taken to correct economic conditions through a control of government spending (Bodie, Kane, & Marcus, 2013, pp. 379 – 380). In case of a deep depression, the government may engage various fiscal policies to control the effects of the deep depression. Such fiscal policies include a decrease in the tax rate and an increase in direct government spending such as on infrastructure projects. Such spending should increase employment, production levels, and aggregate demand, which will be instrumental in reversing the effects of the deep depression.

Reference

Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of Investments. New York: McGraw-Hill/Irwin.

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The Yield Curve Short Essay

The Yield Curve
The Yield Curve

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The slope of the yield curve is considered a leading economic indicator. A yield curve plots the relationship between the yield-to-maturity and the term to maturity of a bond (Bodie, Kane, & Marcus, 2013, p. 322). The curve presents the term structure of interest rates and, therefore, presents a view of the expected movement of interest rates. Such future views allow for economists and monetary authorities to predict the movements of the economy. Therefore, the yield curve is a leading indicator because it is indicative of an economic variable that changes before the actual cyclical change occurs.

Reference

Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of Investments. New York: McGraw-Hill/Irwin.

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Low Wages and Salaries

Low Wages and Salaries
Low Wages and Salaries

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Low Wages and Salaries

Assessment 1: Report Overview For this assessment, write a 1000 word report on the issues below:
Low Wages and Salaries

Your report should be structured as follows:

1. Introduction (200 words): Define the issue and use Australian research and statistics to explain how common it is, and the likely impacts of this violence (for instance, mental or physical health impacts, number of hospitalisations, and other indications of impact).

2. Theoretical section (800 words): Select TWO theories from the following list, and apply them to the issue: Liberal feminism, Marxist/socialist feminism, radical feminism, critical masculinities theory. You need to pick the most appropriate theory to help you explain the issue. Think carefully about the theories you select.

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Write 400 words on EACH theory, in which you briefly define the theory, and then describe how that particular theory would explain the issue you have selected. For instance, if you select Marxist/socialist feminism for the issue of sexual assault, then your 400 word paragraph needs to explain what Marxist/socialist feminism is, and present a Marxist/socialist feminist explanation for sexual assault.

Your bibliography should contain no fewer than EIGHT academic sources. Any media sources are additional to this.

Marking Criteria

1. Accurate and clear presentation

2. Further research and comprehensive understanding (AT LEAST 8 ACADEMIC SOURCES)

3. Logical and clear structure

4. Quality of written expression

5. Correctly formatted citations and bibliography.

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