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(a) What happens to consumer and producer surplus after a rent control is established? Do they increase or decrease? Explain.
(b) What happens to total welfare? Be sure to include the concept of deadweight loss in your explanation.
If you were macroeconomic policymaker, how do you balance the short-run trade off between inflation rate and unemployment rate? Explain. What is the historical relationship between rates of unemployment and inflation in the U.S. economy? What are the..
The ________ suggests that when real GDP equals potential GDP, quantity of money increases and brings equal percentage in the price level. Velocity of circulation, equation of exchange or quantity theory of money
How low much a quota be to have an impact on trade? Using a demand -and -supply diagram, illustrate and explain the net welfare loss from imposing such a quota. Under what circumstances would the net welfare loss from an import quota exceed the net w..
Assume that an economy is in the long-run equilibrium with the GDP deflator of 150 and potential output of $40 billion. The economy is experiencing a shock – a sharp drop of stock prices. What problem is the economy facing? The government decides to ..
If you plan to have $4,000,000 when you retire, how long will you be able to withdraw $500,000 per year if the account earns interest at a rate of 6% per year? USE INTERPOLATION. Please show all work.
18 years ago, a certain part cost $325. The cost index was 244 and now the index is 329. What cost below is closest to the estimated current cost for the item? Item number 16 took 190 minutes to make. If the learning curve rate is 90%, how long did t..
A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 6 percent. This firm is earning $15 on every $150 invested by its founders. What is its percentage rate of return? percent. Is the firm ..
The unemployment rate in an economy is 6%. The total population of the economy is 290 million, and the size of the civilian labor force in 150 million. Illustrate the number of unemployed workers in this economy.
Review the definitions of Kantianism, Utilitarianism, Liberal Individualism, and Communitarianism. Describe a real-life example for each of them, from both personal and a career perspectives
Explain how a manager would avoid having espoused reality enter into his or her department. Include a discussion on the tools they could use, would department meetings help.
The owner/manager of an athletic shoe store has revenue of $260,000 per year and labor, interest, inventory, and miscellaneous expenses of $200,000. The owner also owns the building the store is located in. What and how much are the store owner’s imp..
Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.
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