The current economic fallout from China's Covid-19 lockdowns -zero Covid-19 policy- is widening both at home and abroad. Consumer confidence in the world's second largest economy and consumer spending today slid to the worst levels since the pandemic began at the end of 2019 (retail sales down 11.1% year on year, car sales -30% YoY....). Analysts are warning of no quick recovery. a. Use the consumption model, the loanable funds market, the Keynesian cross model, and the IS-LM model to assess the effects in China's economy of what is being described above. Use all the models (equations), their graphs, how the models might change, and explain in economic terms what is going to happen in detail. b. How what the decline in consumer confidence will affect overall aggregate demand in China? Use the AD-AS model in which prices are no longer sticky (model, graph, and a thoughtful economic explanation).

The current economic fallout from China's Covid-19 lockdowns -zero Covid-19 policy- is widening both at home and abroad. Consumer confidence in the world's second largest economy and consumer spending today slid to the worst levels since the pandemic began at the end of 2019 (retail sales down 11.1% year on year, car sales -30% YoY....). Analysts are warning of no quick recovery. a. Use the consumption model, the loanable funds market, the Keynesian cross model, and the IS-LM model to assess the effects in China's economy of what is being described above. Use all the models (equations), their graphs, how the models might change, and explain in economic terms what is going to happen in detail. b. How what the decline in consumer confidence will affect overall aggregate demand in China? Use the AD-AS model in which prices are no longer sticky (model, graph, and a thoughtful economic explanation).

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter2: Fundamental Economic Concepts

Section: Chapter Questions

Problem 5E

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The equation of demand is Q=10000-5p, supply is Q=-2000+10p Q represents the quantity of houses on the market and P the rental price. The equilibriumrental price equals 800 euros per month. if the government ubsidizing renting a house with 300 euro per month.What are the effects of each measure for both house owners and people renting ahouse? And what are the consequences for the government? Analyse the measuresgraphically and mathematically.