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1. What is the expenditure multiplier-explain this briefly? What does it multiply?
2. (a) When an economy is in equilibrium what the size of unplanned inventories is?
(b) Also when an economy is in equilibrium what the relationship between savings and investment is?
Write down the effect on the real wage and hours worked in the short run.
What is the profit-maximizing price for this firm? On the graph show the area, which area represents the net loss to society resulting from the monopoly power conferred by the patent?
Explain how an individual's Demand curve for medical care will change (i.e., shift) if the following things happen (consider each change individually, holding all other possible influences constant.
Using the dynamic augmented Phillip's Curve model (Y/PC/MR), demonstrate the effects of the Following changes. Show both the short-run and long-run effects.
Use the data below to find out the growth of income per person (over the entire period, not an annual basis) between the two years listed.
Write down the relationship between savings, capital formation, and consumption.
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
Calculate the price elasticity of demand for the product below using average values for the prices and quantities in your formula.
Suppose a frost kills a large portion of an orange crop, with a resulting higher price of oranges. It has been said that such an increase in price benefits no one since it cannot elicit a supply response; the higher price, it is said, simply "line..
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and P x = $5, P y = $10, X = 20, and M = 500?
The total sum of squares is 400 and the sum of squares errors is 100, what is the coefficient of determination?
Describe what effect an expansionary fiscal policy would've on the price level and real GDP starting from full employment equilibrium.
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