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Suppose a Caribbean government facing budget deficits asked their economic advisers to solve the following problem: they would like to reassure the credit rating agencies S&P and Moody's that they are serious about proposing a long-run plan that will eventually reduce the budget deficit further, but are also concerned that any contractionary fiscal policy might push the economy into a recession. One adviser suggests that the government pass legislation now that will raise taxes, starting two years from now. Assume throughout this problem that everyone believes that taxes will indeed rise two years from now.
i. Why would the simple Keynesian consumption function predict that this strategy would work?
ii. Many of the government's economists argue that the legislation will affect the economy now even if taxes do not increase for another four years. Explain their reasoning and the theory (or theories) they use.
the manager of global opportunities for a U.S. manufacturer, who is considering expanding sales into Europe. Your market research has identified three potential market opportunities: England, France, and Germany.
What is the equilibrium wage?
College Financial Sources, which makes small loans to college students, offers to lend $500. The borrower is required to pay $40 at the end of each week for 16 weeks. Find the interest rate per week. What is the nominal interest rate per year
What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.
What is the equation for the Marginal Social Cost curve? Use this to figureout what the socially optimal amount of widgets is. Is the socially optimal thesame amount as you found in part (a)?
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
A change in real money supply can result either from a change in nominal money supply through Federal Reserve policy or from a change in the price level.
Unemployment in the labor market is increased by forces that keep wages from falling to the equilibrium level. Other than efficiency wages, unionism, and minimum wages, what other factors might cause this wage stickiness?
1. whatnbsp was the neolithic revolution?nbsp explain carefully what basic changes caused this revolution and what
Alice and Bob survive on hamburgers and salads. Alice's utility function
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
Margie has just attended the funeral of her son William, who died this week after several years of poor life quality in the same nursing facility. William's first stroke happened 3 years prior; two more strokes followed, and he lingered in poor he..
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