Question in 1998 japanese real gdp fell 2frac12 in spite of, Ask an Expert

Economics

Question: In 1998, Japanese real GDP fell 2½% in spite of a sharp decline in interest rates and massive increases in government spending. In terms of the IS/LM diagram, what factors must have shifted to offset the monetary and fiscal stimulus?

In the spring of 1980, the Federal funds rate fell from 17.6% to 9.0%, while real GDP declined at a 9.6% annual rate, the biggest one-quarter decline in history. Use the IS/LM diagram to show what factors caused this massive change. (Hint: that was the quarter the Fed imposed credit controls.)

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M93114879

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