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Answer one of the following questions:
A. While having a haircut, the hairdresser heard you were studying macroeconomics and said "The reason the aggregate demand curve slopes downward is that when the price level is higher, people cannot afford to buy as many goods and services". Do you agree or disagree with the hairdresser's statement? Explain.
B. List three variables that would cause a decrease in real GDP--indicate whether changes in each variable increase or decrease aggregate demand or short-run aggregate supply. Next, state three variables that would cause an increase in the price level--indicate whether changes in the variable increase or decrease aggregate demand or short-run aggregate supply.
Smith can produce with or without a filter on his smokestack. Production without a filter results in greater smoke damage to Jone. The relevant gains and losses are as follows: Gains to Smith: $200/wk with filter; $245/wk without filter.
Explain how the economy affects the success of the auto industry. Economic influences that can affect the industry in a negative way.
Many economists have attempted to create a set of social accounts that would come closer to measuring the economic well-being of the society than does GDP. What modifications of the current approach would you recommend to them
Elucidate the increasing returns to scale as a basis for international trade. Be sure that you define the relevant concepts, describe important features of such trade, and contrast these features with those of trade due to other causes.
Compute the 10-year growth rate forecast using the constant growth model with annual compounding, and the constant growth model with continuous compounding for each occupation.
Explain how do these tools influence the money supply, and in turn, affect macroeconomic factors.
Clipit utilize this advantage to be the first to choose its profit-maximizing output level in the market.
Illustrate what percentage of the CEO's total earnings is tied to profits of the firm.
Explain the causes of recent recession and when it started and when it technically ended. Finally why the recent recession was called the worst recession after the great depression.
How are the results the same or different? Explain why the results would be the same or different.
Suppose that there are 1,000 hot-pretzel stands operating in Toronto.Each stand has the usual U-shaped average total cost curve.
in order to maximize profits monopolies produce where marginal revenue marginal cost lt market price. contrast this to
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