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The classical approach to macroeconomics assumes that
A) wages, but not prices, adjust quickly to balance quantities supplied and demanded in markets.
B) wages and prices adjust quickly to balance quantities supplied and demanded in markets.
C) prices, but not wages, adjust quickly to balance quantities supplied and demanded in markets.
D) neither wages nor prices adjust quickly to balance quantities supplied and demanded in markets.
Milton Friedman faiths in a steady growth monetary policy. Illustrate what does that mean and critique this approach.
You are working for an unemployment agency which distributes unemployment checks to unemployed workers in your state.
a factory benefits from discharging effluent q into a lake. the marginal benefit function is given by 60-2q. the
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Examine how trade in goods and services has evolved over time. Is the country becoming more or less competitive in world markets?
How did the timing affect conclusion about profitability of increasing prices - What do these numbers imply for the decision of when to open a shared facility versus two separate facilties.
During the recent recession, when countries around the world suffered high unemployment rates and the governments were experiencing huge budget deficits, economists debated whether to raise or cut taxes or to raise or cut government spending.
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Assuming there is no change in demand or the firms cost curves, explain what will happen in the long run to the price of fertilizer, marginal cost, average total cost, quantity supplied by each firm, and the total quantity supplied to the market.
Explain the level of resource misallocation comparing the outcome under the Monopoly situation with the outcome under perfect competition
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