This video walks you through the concepts covered on an AP Macroeconomics Free Response Question. The way I think about it is if you have real GDP increasing, you're in a situation where you just have more economic activity, the national income has gone up. Was this an example of the long free response question or one of the shorter ones? And they say the short-run equilibrium we have an unemployment rate of 7% and an inflation rate of 3%. Example free response question from AP macroeconomics (video. And so people say, hey, if you want me to work, you gotta pay me a little bit more, and so that could just lead to a higher inflation rate. Currency X's currency for exchange will go up. I'll call that sub one, since we're gonna think about how it shifts, and then aggregate demand would look something like this. It'll just be a vertical line. B) Assume the Brazilian government has decreased spending by 50%. So I could call that our long-run Phillips curve, and it's going to be right there at 5%. So maybe it looks just like this.
I am looking forward to meeting you and working with you during our four days together. Course Hero member to access this document. 4 - 4. Assume the economy of Andersonland is in a long-run equilibrium with full employment. In the short run, nominal wages are fixed. a) Draw a | Course Hero. When the interest rates rise compared to the rest of the world, capital inflow increases and the capital account shows as a surplus while the current/trade account shows as a deficit. They're saying a fiscal policy action, not a monetary policy. That interest rate then lowers the investment demand.
And now let's draw our short-run aggregate supply which we have seen before. Assume that the government of Country X takes no policy action to reduce unemployment. But what about the short-run aggregate supply curve? Assume the economy of andersonland. Plot the numerical values above on the graph. AP®︎/College Macroeconomics. You would have more output at a given price level. Why does AS in short run shift to the right when there's high unemployment in an economy? Think of increases in the capital stock as increasing efficiency and productivity and increasing the potential output of the economy.
So our short-run aggregate supply would look like that. That's just the full employment output for our country. Using the numerical values given above, draw a correctly labeled graph of the short-run and long-run Phillips curves. C) Based on your answer in part (b), what is the impact of the reduction in government spending on people who have a fixed income? We will balance covering some of the more challenging topics in the course material while trying some strategies and lessons to develop students' skills in economic analysis. Assume the economy of andersonland school. Let's do the long-run first because we've seen before the long-run just sets our unemployment rate at the natural rate of unemployment, and it isn't related to our inflation rate. Aggregate supply means the number of commodities manufactured by all the producers in an economy at the prevailing price level. And then you have the equilibrium output, let's call that Y sub one. I would really appreciate your help here. You could also think at a given output level, you would have a lower price level, at a given price level. And so here we would say it just remains the same.
As a grader of the AP Macroeconomics exam for the past 10 years and several years as a table leader, Julie has had the chance for exceptional professional development. So here they're saying short-run aggregate supply curve, explain. And just think about what's going on. And then they say, label the short-run equilibrium as point B. We could say wages come down which would shift the short-run aggregate supply curve to the right. Aggregate Demand refers to the total quantity of services and commodities demanded in an economy at the existing price level. So remember, Phillips curves show the relationship or the theoretical relationship between the unemployment rate and the inflation rate. Materials to write on and with. And if we're talking about the price of a currency and we say it's going down, we would say that that currency is depreciating, so it would depreciate, and we're done. A) Draw a correctly labeled graph of long-run aggregate supply, short-run aggregate supply, and aggregate demand. Label the new equilibrium output and price level Y2 and PL2, respectively. Ii) Equilibrium price level, labeled PL1. Draw a correctly labeled graph of aggregate demand and short-run aggregate supply, and show the impact on the equilibrium price level and real GDP of the fiscal policy action identified in part (c). Ii) What is the impact on the Long-run aggregate supply?
Part two, long-run Phillips curve, so that's this vertical line right over here. Julie holds a master's degree in Economics Education from the University of Delaware. B) Identify one fiscal policy government could implement to reverse the change in investment spending. That would be upward sloping, as the price level increases or the economy might be willing to output more, so that's short-run aggregate supply. All right, part (f). If you have previously taught the course, please bring your syllabus for reviewing and revising. Answer and Explanation: 1. a) The long-run equilibrium is achieved at the point where AD, SRAS, and LRAS intersect. So I'm gonna do the inflation rate in the vertical axis which is typical. And then on the horizontal axis, I am going to do my unemployment rate. And then let's draw an aggregate demand curve. Show each of the following.
During the capital inflow process, the rest of the world wants USD because they can only invest using US dollars inside the U. S. This increases thedemand for USD in the foreign exchange market and appreciates the value of USD in terms of other foreign currency. This preview shows page 1 - 2 out of 2 pages. Label the current short-run equilibrium as point B. So this is going to be my unemployment rate which is going to be a percentage. Or for a given amount of output, it might cost less because there's just people out there competing for that work.
Think of the business cycle. In the short-run is what you have to have noticed,,,, as wages can't adjust in the short-run,,, therefore if the price level is increasing and wages are not,, real wages are falling. I drew it to the left of the long-run aggregate supply curve. Answer - One point is earned for stating that real wages will fall because the price level has increased and the nominal wages are fixed in the short run. In the above figure, E1 is the long-run equilibrium... See full answer below. Our unemployment rate is higher than the natural level of unemployment. So this is going to be so that we have our price level axis up here, and we just drew something very similar to this, real GDP. CHMN 301 Journal Article Summary Assignment.
Read more about the curve shifts of this and learn the AD-AS model through an example. So you have to be very careful here. And then your equilibrium price level would go down, price level sub two would go down. And it happens, and then we have price level sub two.
And this would be in relation to lowering taxes or raising taxes or increasing or decreasing government spending. The Foreign Exchange market answer towards the end for Q. e & f are not correct. Well, that's going to be upward sloping. And if national income has gone up, people are gonna do a lot more of everything including buying imports.
Your baby will start to be more social at this age, and may even have their first real smile. Learn about our editorial policies Updated on October 20, 2021 In This Article View All In This Article What is Full-Time Employment? Remember, you are your baby's favorite person right now, and if anyone can make them smile, it's you. Note Official employer designations regarding full-time employment generally range from 35 to 45 hours, with 40 hours being by far the most common standard. Overworking is linked to risk of heart problems from having, including having an irregular pulse, developing acute myocardial infarction, and coronary heart disease. "There is no ideal workweek. How long should a 6-week-old sleep? Stanford Children's Health. How many hours in 6 week 2014. How many hours per week do you need to work to be considered full-time? Keep in mind that all babies are different when it comes to growth. Your baby may not be there yet, but they are gradually progressing toward that. Organizations can choose a historical period of three to 12 months to assign a full-time status to workers if they averaged 30 or more hours during that period of time. Full-Time Workweek Schedules 40 Hour Workweeks The standard for full-time employment was typically 40 hours a week in the past. Our reporting reveals an inconvenient truth: The ideal workweek might not exist.
"Currently it's accepted that the standard working week is around 40 hours depending on the country. Around 6 weeks, your baby is due for another major growth spurt, which can really throw you off. How many days in 6 weeks. There's never been a better time to think seriously about how many hours you should actually be working each week — especially as burnout becomes a bigger issue among Millenials and the entire workforce. Your baby continues to put on weight at a rate of 1. Learn More: Does Your Baby Follow a Sleep Schedule?
You may be wondering when your baby will finally sleep through the night, stop being so fussy, and stop needing to feed seemingly all the time. The share of jobs that were part-time in 1968 was only 13. Even a very small amount of work, between one and eight hours, was enough to "generate significant mental health and well-being benefits" among people who were previously out of work, the study found. Company policy determines how many hours per week is considered a part-time job. How many hours in 6 week 1. If you have any questions about your baby's growing, feeding needs, or development, don't hesitate to reach out to your pediatrician. Affordable Care Act (ACA) Definition of Full-Time Employment With the introduction of the Affordable Care Act (Obamacare), the definition of a full-time employee has been prescribed as a worker who spends an average of 30 or more hours per week on the job.
Nemours Children's Health. The value of the work that is being done also matters, she says. 6-Week-Old Baby: Milestones & Development. Learn about our Medical Review Board Print Table of Contents View All Table of Contents Development Milestones Food Sleep Schedule Health and Safety Care Basics What Else to Know Frequently Asked Questions Next in Baby's First Year Guide Your 7-Week-Old Baby's Milestones & Development When your baby hits the 6-week mark, it can feel as though an entire lifetime has passed since they were born. Employment Law Regulating Hours Worked Beyond ACA requirements, individual employers are free to set standards for their workforce. Newborn and Baby Feeding Schedules 6-Week-Old Baby Sleep Your baby is still sleeping upwards of 15 hours in a 24 hour period.
These concerns are common and totally valid! At the same time, a shorter workweek might benefit certain demographics, like the elderly or small children. How Many Hours a Week Is a Full-Time Job. And a 2017 study in 429 people found that those who worked longer hours had higher incidences of depression, anxiety, and poor sleep quality. If you haven't made your appointment for your baby's 2-month checkup, you should do so now. American College of Obstetricians and Gynecologists.
They may still drop those objects after a short time, but you may find that your baby can hold a rattle, or a set of toy keys, for longer periods of time now. It's common for new parents to have questions about vaccines, especially what side effects they may have on their baby. Learn More: Colic in Breastfed Babies What toys are good for a 6-week-old? But interestingly, they did find that some work does make a positive difference. This uptick in socializing will be very exciting for both you and your baby, and you can enhance this by playing with your baby, talking to them, and making funny noises for them to respond to. John Pencavel, an economist at Stanford University, agrees. Work hours per week: How long should you work? Dr. Johns says that witching hour is common in babies, but can be really frustrating for parents. If you are hoping that your baby will break out into a smile soon, try making funny faces or silly noises near your baby. "What matters is not the number of working hours, not the quantity, but the quality of the job makes a huge difference to our mental health and wellbeing, " she says. Advisor Perspectives. Even the classic breakdown of week and weekend is falling by the wayside.
Many parents are wondering if they still need to wake their baby up to feed at this age. Food: Your baby will still be eating very frequently, but may be able to space their feedings out a little more at this age. Productivity and creativity tend to plateau after a certain amount of hours. In some cases, employers also provide benefits to part-timers. Check on Company Policy Company policy determines the hours that employees are expected to work. "What makes the biggest difference is whether we find work meaningful. Do 6-week-olds recognize mom?
Often, during a growth spurt, babies become especially fussy during the evening. Sleep: Your baby won't be sleeping through the night yet, but should be consolidating more of their sleep at night by now. There's some good news in that department, says Dr. Posner. Once designated as full-time, employers must keep workers in that status for at least six months. Women are twice as likely as men to be classified as part-time. Accessed June 29, 2021.
Cluster Feeding and Growth Spurts. The company may specify a set number of hours and, optionally, what your work schedule will be. In a 2014 study, Pencavel and his colleagues found that "long weekly hours and long daily hours do not necessarily yield high output. " Babies just really enjoy being with their parents at this age, and don't require much besides some interaction and eye contact. Everything You Need for Your Newborn Baby Illustration by Joshua Seong, Verywell 6-Week-Old Baby Development You've probably noticed in the past few weeks that your baby has been starting to have more periods of alertness and awareness. The U. S. Department of Labor guidelines provide for overtime pay for nonexempt workers after working 40 hours. Dr. Posner says your baby has been able to recognize you really since they were born, but starting this week, you may notice them turning toward you more consistently when they hear your voice. Check company policy. For example, a 50-hour workweek could comprise five 10 hour days or an additional 6th workday. If you are a breastfeeding parent, now is a good time to try introducing a bottle to your baby, and feeding it to them about once a day so that they can get used to it. "Some babies will space out feedings at this age, but others are still demanding every two hours, " Dr. Posner explains. Note When you are hired, you should be advised as to your employment status and eligibility for company-provided benefits based on whether you are full-time or part-time. Work intensity and the social environment of the job are both key factors, Daiga Kamerade-Hanta, a work and employment sociologist from the University of Salford, tells Inverse. Babies this age still tend to eat very frequently, but may be starting to extend the intervals between feedings a little more than they did when they were younger.
You will want to label your milk with the date you pumped it and store it in the freezer for future use. Even though many people consider 35 or 40 hours a week full-time, the number of hours you are expected to work can vary depending on your employer. Either way, keep in mind that if you pump consistently each day, your body will end up making enough milk to feed your baby, and so that you can store it for later. There are no federal guidelines that regulate the number of hours employees age 16 or over can work. 3% of the workforce. Of course, if your baby is still waking to feed, it's important to let them do so at this age since they still have a lot of important growing to do. But we don't really just have a tangible number we can throw out there to everyone, " he says.
Department of Labor. Jain S. How Often and How Much Should Your Baby Eat? "As long as they are gaining weight well, I let them sleep as long as they want (preferably at night). " Other Submit Sources The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Pagano C. When do babies first smile? Productivity per hour falls after a person works more than 50 hours a week, they found. Yes, it's true that your day will still revolve around eating, sleeping, and diaper changes, but when your baby is awake and alert, now is a good time to do some playing. "I'm not sure anyone can give you the exact answer you want.