The Federal Macro Government - Economy

Assignment Task

Questions

1. Suppose you are an advisor to the federal government. You are asked to look at macroeconomic data to evaluate whether the economy has entered an economic contraction this year. Which data would you look at How does the economy behave at the onset of an economic contraction?

2. People working in an informal job market often conceal their jobs and are left out of the official record of the labour force. These informal employments not only include workers in the underground economy but also include employees in legitimate paid jobs who want to avoid taxes?

3. How does informal employment complicate measuring unemployment and the labour force What would happen to official measures of the unemployment rate and the labour force participation rate if the informal labour market were to collapse, and people engaged in associated informal work lost their positions?

4. Data from the Chinese housing market suggests that housing sales and prices have fallen sharply in recent months. There is a concern that the housing market crash in China may be followed by an economic downturn?

5. Are there any suitable policy options that can quickly bring the economy back to the long-run equilibrium Use your diagram in part to explain how these policies may work?

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