Al Vincent has decided to retire to Arizona in 11 years. What amount should Al invest today so that he will be able to withdraw $28,500 at the end of each year for 16 years after he retires? Assume he can invest the money at 6% interest compounded annually.

Crowding out is a phenomenon focused upon most by the macroeconomists of whereby a government deficit interest rates, which in turn private investment spending. this group also believed that fiscal policy is the only thing that can lower natural unemployment. is just as effective in countering recessions as monetary policy. can be used most of the time, but monetary policy becomes a better option when velocity is fluctuating. should be used only if the central bank follows a monetary policy rule. faces problematic lags in propagating changes throughout the economy.