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1. Explain what effect a contractionary fiscal policy would have on the price level and real GDP starting from full employment equilibrium.
2. What are automatic stabilizers and how do they affect the economy? Which is the most important?
Identify trends or other patterns in inflation within the an economy of your choice over the last five years using quarterly data from the Central Bank or other Government based Statistical agency websites as a source.
Problem - Income Elasticity of Demand, Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5
Plot the wage- setting and price setting equation or a property labelled graph and identity the nature rate of unemployment.
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
Draw marginal revenue function for this firm. What is the profit-maximizing price for this firm? On the graph describe the area, this represents the net loss to society resulting from the monopoly power conferred by the patent.
Question based on Laffer Curve : Tax Rate and Tax Revenue, Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?
Discuss how a change in price affects total expenditure by filling in each cell with resulting change in total expenditure.
The socio-economic shortcomings that China experienced
Explain the economic situation in the UAE based on the article. Summarize the articles with your own words
Application of Nash Equilibrium and Game Theory with examples
In article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production
What is Bill's opportunity cost of producing one hat, In which of the two activities does Mary have a comparative advantage.
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