Economic Policy : The following rules illustrate traditional economic policy the
ID: 669555 • Letter: E
Question
Economic Policy :
The following rules illustrate traditional economic policy theory in terms of regulating a governments economy.
a) If the annual growth rate is less than 1%:
If inflation is less than 3%, recommended economic policy is:
Increase welfare spending, reduce personal taxes, and decrease discount rate.
Otherwise, recommended economic policy is:
Reduce business taxes.
b) If the annual growth rate is greater than 4%:
If inflation is less than 1%, recommended economic policy is:
Increase personal and business taxes, and decrease discount rate.
If inflation is greater than 3%, recommended economic policy is:
Increase discount rate.
Write a GUI program that applies these economic policy practices. More specifically, read in growthRate and inflation values and output the recommended economic policy for the given economic situation. If there is no recommended economic policy for the given economic situation, then output No change in economic policy.
Explanation / Answer
import java.util.Scanner;
public class EconomicPolicy {
public static void main(String[] args) {
double growthRate,inflationValue;
Scanner sc = new Scanner(System.in);
System.out.println("Enter Annual Growth Rate");
growthRate = sc.nextDouble();
System.out.println("Enter Inflation Value");
inflationValue = sc.nextDouble();
System.out.println("==================================");
System.out.println("Recommended Economic Policy as follows");
System.out.println("==================================");
if(growthRate<1) {
if(inflationValue<3) {
System.out.println("Increase welfare spending, reduce personal taxes, and decrease discount rate.");
} else {
System.out.println("Reduce business taxes.");
}
} else if(growthRate>4) {
if(inflationValue<1) {
System.out.println("Increase personal and business taxes, and decrease discount rate.");
} else if(inflationValue>3){
System.out.println("Increase discount rate.");
} else {
System.out.println("No change in economic policy.");
}
} else {
System.out.println("No change in economic policy.");
}
}
}
===============
Output
===============
Case1:
Enter Growth Rate
5
Enter Inflation Value
10
==================================
Recommended Economic Policy as follows
==================================
Increase discount rate.
Case2:
Enter Growth Rate
10
Enter Inflation Value
-1
==================================
Recommended Economic Policy as follows
==================================
Increase personal and business taxes, and decrease discount rate.
Case3:
Enter Growth Rate
-1
Enter Inflation Value
2
==================================
Recommended Economic Policy as follows
==================================
Increase welfare spending, reduce personal taxes, and decrease discount rate.
Case4:
Enter Growth Rate
-1
Enter Inflation Value
5
==================================
Recommended Economic Policy as follows
==================================
Reduce business taxes.
Case5:
Enter Growth Rate
3
Enter Inflation Value
12
==================================
Recommended Economic Policy as follows
==================================
No change in economic policy.
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