Suppose the economy is currently suffering from a recessionary gap and the Federal Reserve uses an expansionary monetary policy to close that gap. Describe the short -run effect of this policy on the following. a. the money supply curve b. the equilibrium interest rate c. investment spending d. consumer spending e. aggregate output

April 4thNotes Dwayne’s Concrete Service Dwayne’s Concrete Service does 10 jobs each month. The probability that a specific job will be for a residential driveway is 70% and the probability that it will be for a commercial project is 30%. Revenues for residential driveways follow a normal distribution with a mean of $500 and a standard deviation of $50. Commercials projects, although more lucrative, also have larger variability. Dwayne estimates revenues here follow a normal distribution with a mean of $1500 and a standard deviation of $400. Set up a model to calculate the average value of revenue each month. 0 0.7 1 Residential commercial 70%