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Why the knowledge of economics has not spread from the economics profession to the average reasonably well educated person?
Describe the effects of an oil price shock in Keynesian model; why are such supply shocks difficult to handle using macroeconomic stabilization policies?
During the most recent recession General Motors and Chrysler lost huge sums of money in their operation (not counting government bailout money they could not assume they would get). How could they continue to operate at a loss
Make sure to discuss how Facebook has both impacted and been impacted by the technological and other changes that comprise a low-friction economy as well as in terms of supply and demand.
consider a market where supply and demand are given qxs-10 pxand qxd 56-2px. suppose the government imposes a price
Explain how an increase in the cost of job loss may lead to an increase in the intensity with which workers work. What role does the wage rate play in this process?
The U.S faces an unwelcome combination of looming recession and persistent inflation that is reviving angst about stagflation, a condition not seen since the 1970s
Issues for investigation: "The business cycles of American Capitalism are directly responsible for the inadequate income distribution and poverty in the United States. The business cycles constantly target the same income groups.
Suppose capital is steady, with three machines and MPPK/MRCK = 30, determine the least cost input combo of labor and capital? How much output is produced?
Product differentiation is a hallmark of monopolistic competition, and the text lists four sources of such differentiation: physical differences, prestige, location, and service.
If a dealer of rare artifacts purchases a 2nd Century Roman Vase for $250,000 and sells it to a wealthy collector for $320,000 during a given year, how much has been added to GDP for that year? A. Nothing, because the vase was produced centuries ago...
1. What is the least-cost combination of labor and capital the firm should employ in producing 80 units of output? explain. 2. What is the profit-maximizing combination of labor and capital the firm should use? Explain. 3. What is the resulting level..
ITEM 1. What's in and What's out? Calculate the Nominal GDP in 2004 and 2005 and Real GDP in 2004 and 2005.
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