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Identify the two events that can cause a shift in the Production Possibilities curve.
A change in the fixed level of inputs
A technological Change Occurs
Every single price in the economy doubles
The government appoints a new Secretary of Agriculture
In an aggregate expenditure model with no government or foreign sectors, represented by C = a + bY and I (an autonomous amount), an increase in the marginal propensity to save causes the multiplier to rise.
describe several different fixed costs and variable costs associated with operating an automobile.
The market for DVD rentals in Dallas, Texas, is estimated to be P= 10-0.002Q. Marginal cost (MC) of rental is equal to $2. Where PD is the price (per DVD in $) for DVD QD is quantity of weekly rental. The marginal revenue (MR) for rental is equal to
What is the biggest disadvantage of using shells as money.
What problem is the economy facing? Assume you are a governor on the Federal Reserve Board of Governors. What type of policy (easy money or tight money) would you recommend to fix the problem you identified in question 1? Which tool(s) would you reco..
Alvin’s demand for a product is QdA=10-P and Betty’s demand is QdB=5-P. Calculate Alvin and Betty’s marginal and total willingness to pay for 4 units of consumption of this product. Explain it graphically. Derive the aggregate demand function. What i..
What amount of profit is the firm earning? Is this firm in a short-run or long-run equilibrium? Explain
The demand curve for cookies is downward sloping. When the price of cookies is 2 dollars, the quantity demanded is 100.If the price rises to 3 dollars, what happens to consumer surplus?
Identify at least three such factors that, in your view, should be included in the GDP calculations; then elucidate and illustrate how could they will help to improve the GDP as a tool for measuring the well-being of a nation.
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1.
Compare and contrast Keynes's theory of the speculative demand for money with Tobin's portfolio selection theory utilizing the expected utility hypothesis.
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