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In class we described the Keynessian approach that defines macroeconomics. Please describe how the Keynessian approach describes the level of employment. Specifically, please address flexible wages and how the Keynesian approach views the economic impact of "flexible wages".
Suppose that doctors' visits cost $20, and the typical consumer has an income of $100. Consumers spend all of their incomes on doctors' visits and a "composite good" that costs $1 per unit. Draw the new budget constraint the consumer faces under plan..
What are other advantages (not mentioned in the case) that Nordea Bank might realize from its Data warehouse?
Consider a competitive industry with a large number of firms, all of which have identical cost functions c(y) = y^2+ 1 for y > 0 and c(0) = 0. Suppose that initially the demand curve for this industry is given by D(p) = 52 − p. What is the supply cur..
MNE's frequently change their charging strategies with their subsidiaries depending on the strength of the dollar, local versus home taxes, need to bolster
Generally wind turbines can substitute for coal in the production of electricity. Imagine a breakthrough in the production of wind turbines reduces the cost of generating electricity with wind by 50%. How would this alter the incentive to find and pr..
The demand function for a certain brand of CD is given by p=-.01x^2-.2x+11 where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the producers' surplus if the market price is set at ..
a. What is your monthly payment? b. How much of the principal is paid in the first month? How much of it is paid in the second month?
1. How do consumption possibilities differ from production possibilities when a country is engaging in trade based on comparative advantage?
What is the difference between economic profits and accounting profits, and how does this difference matter for actual business decisions?
Suppose that the Bank of Canada unexpectedly decreases the money supply. What will happen to unemployment in the short run? What will happen to unemployment in the long run?
Viennese artist Gustav Klimt's Portrait of Adele Bloch- Bauer was sold in New York for $135 million. Illustrate using supply and demand curve.
explain why airlines might be more likely to match price cuts than price increases. (b) Which theory of oligopolistic behavior does the above situation most resemble?
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