What impact would you expect the macroeconomic policy you recommended in part a on an individual wheat producers average profit? Total profit?

The economy of Lower Slobovia is currently experiencing an interest rate of 12% and a real GDP of $5 Show more The economy of Lower Slobovia is currently experiencing an interest rate of 12% and a real GDP of $5000. The level of aggregate demand puts in the Keynesian range of the countrys aggregate supply curve and perfectl elastic range of the countrys labor supply curve. Suppose the government has announcedits intent to achieve a target interest rate of 6% and a real GDP level of $10000. Futher assume this action would still leave the economy in the perfectly elastic ranges of its aggregate supply and labor market supply curves. a) Identily the specific macroeconomic policy action you would reccomend the government to take to achieve these twin targets. b) What impact will the change in the general economy hace on the market equilibrium for wheat in Lower Slobovia. c) What impact would you expect the macroeconomic policy you recommended in part a on an individual wheat producers average profit? Total profit? Show less

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