SECTION [3] SHORT ESSAY [20%] INSTRUCTIONS: 1- WRITE YOUR ANSWER IN THE SPACE PROVIDED WITH CLEAR ARGUMENTS

SECTION [3] SHORT ESSAY [20%]
INSTRUCTIONS:
1- WRITE YOUR ANSWER IN THE SPACE PROVIDED WITH CLEAR ARGUMENTS.
2- USE THE FORMAT WITH INTRODUCTION, BODY TEXT AND CONCLUSION.
3- YOU SHOULD SPEND ABOUT [24] MINUTES ON THIS SECTION
“In 2018, the average inflation rate in Egypt amounted to about 20.86 percent”.
Source: Egypt- Inflation rate 2021 | Statista
(World Bank, 2015)”
Now, if Egypt wants to control Inflation rate, your task is:
1. Define the phase of the business cycle that Egypt is going through.
2. To choose the appropriate monetary policy.
3. To provide clear arguments using AD and AS analysis. Show current situation on the graph and then changes when monetary policy is used
(Use the format with introduction, body text and conclusion)Suppose you quit a job that was paying you $55,000 a year to start your own Internet-related business. You withdraw $300,000 that you had in a savings account that was paying you 4% a year to help start the business. You set up on office in a condo that you own but used to rent out for $1,000 a month. The first year of your operation, you paid salaries totaling $130,000 to three employees. You pay $500 a month in utilities, and you paid a total of $40,000 for supplies that the first year. What is your total explicit cost, total implicit cost and total overall cost for your business the first year