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Classical economists believed in Say's Law -- supply creates its own demand. On the other hand, Keynesians do not believe supply creates its own demand.
Why don't Keynesians believe supply creates its own demand?
If your workplace produced a supply of their products/services, would this supply create its own demand? Why or why not? Please use specific real-world examples.
What remedies would Classical economists propose for ending a recession?
What remedies would Keynesian economists propose for ending a recession?
Also, explain why Classical and Keynesian theory differs regarding the remedies for recessions
Illustrate what is maximum amount you would pay for offer of $2,000. Suppose offer was $2,000, but delivery was to be in 2 years instead of 1 year. Illustrate what is maximum amount you would be willing to pay.
All firms in a Cournot monopolistically competitive industry have the same cost function C(q) = 25 + 40q. Market demand is Q(p) = 140 − p. Calculate the equilibrium price, firm output, total output, and number of firms in the industry.
Directions: Create a Feasibility Study for Harley-Davidson using the following outline:
expectations of the business community are increasing into areas beyond the core product or service into consideration
Which of the following best describes the opportunity cost of one year of college?
Corporate executives are pressured between conflicting interests of internal and external stakeholders. Provide a specific example of such a conflict. How can the conflict best be resolved?
The marginal social cost of pollution rises as more pollution is emitted. The marginal social benefit of pollution falls as more pollution is emitted. Use the infinite line tool to draw a curve showing the marginal social cost of pollution (MSC). Tip..
For each of the situations below analyze what happens to the supply and demand curves, and then decide the impact on the equilibrium price and quantity in the market for lemonade. Suppose this market is initially in equilibrium and then the price of ..
Find the optimal (x, y, λ) for max u(x,y)= kx^ay^b s.t. PxX+PyY = m, in terms of the parameters of the model. Prove that the optimal (x,y, λ) is indeed a maximum. Comment
1. The table below describes the key elements in deriving a labor demand curve for a bakery. Complete the table and answer the following questions. Capital (K) is fixed at 1 unit.
In a six-firm market, if all firms charge the monopoly price, the profit equals $120,000. In that same six-firm market, if all firms instead charge the prevailing price, the profit is $60,000. If the pricing period is one-month long, what is the maxi..
A nation whose interest rate is rising more rapidly than interest rates in other nations can expect the international value of its currency to appreciate.
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