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ALL WORK MUST BE ORIGINAL AND NO PLAIGARISMThelong-run growth is measured as the increase in real GDP per capita and thismeasure has changed over time and it also varies across countries. A countrys standardof living depends on its ability to produce goods and services (productivity).Howdo we measure long-term economic growth of a country? What are the keydeterminants of long-run economic growth?Whatis the relationship between economic growth and productivity? What is themajor source of growth in labor productivity?There are different types of financialintermediaries with different roles in the economy. Savings and investmentspending are interdependent, and interest rates are determined in the loanablefunds market.a.What are the roles of financial intermediariesand loanable funds market in promoting long-run economic growth? How dofinancial intermediaries link saving and investment?b.How does government borrowing crowd outinvestment? What is the relationship between government borrowing and budgetdeficits?The Federal Reserve may increase ordecrease money supply depending on the economic condition.What policy instruments does the Fed use for the monetarypolicy?What are the pros and cons of using expansionary andcontractionary monetary policy tools under the following scenarios: depression,recession, inflation, and robust economic growth? Which do you think is moreappropriate today?In economics, inflation is considered as atax. There are also various costs of inflation.Whatis the inflation tax, and how might it explain the creation of inflationby a central bank? Explain how inflation affects savings and investment.Inflationdistorts relative prices. What does this mean and why does it impose acost on the society?What is your favorite brand of sandwichcookie? If you are like most Americans, chances are it is Oreo. In fact, Oreosare so popular that many people think Oreo was the original sandwich cookie.But they are wrong. Sunshine first marketed its Hydrox sandwich cookie in 1908.Hydrox thrived until 1912, when Nabisco (now part of Kraft) launched Oreo. WithNabiscos superior distribution and advertising, Hydrox was soon outmatched. By1998, Hydrox sales totaled $16 million, while Oreos revenues were at $374million. Hydrox has been purchased by Keebler (subsequently purchased byKellogg), whose elves are trying to give the cookie a major facelift. You arepart of the Keebler team deciding what to do with the Hydrox brand. Canyou re-create Hydrox through a name change? What kind of brand name couldcompete with Oreo? (Most people unfamiliar with Hydrox think it is acleaning product.) Develop five (5) possibilities for a new name. Pick thebest out of five and give your reasoning. Howcan you package your renewed sandwich cookie to make it more attractive onthe shelf than Oreo? What about package size? Draft a brief packaging planfor the new Hydrox (or whatever name you chose). Canyou modify the original formula to make something new and morecompetitive? Will a brand extension work here? Why or why not? Lamb, C. W., Hair, J. F., & McDaniel, C. (2014). MKTG7.Mason, OH: Cengage.