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Compare and contrast the different stages of the business cycle and how inflation and unemployment vary via these different stages. Then discuss the appropriate fiscal and monetary policies to address inflation and unemployment.
What is the inductive "fallacy of hasty generalization"? What does "attacking the analogy" mean? What is the difference between an explanation and an argument?
Demand Analysis: The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics, describe the effect of each of the following in terms of whether it would increa..
Research a trade barrier that is imposed on the U.S. by a foreign country, and discuss how this restriction affects the following: (1) prices, (2) availability of products, and (3) political relationships between the U.S. and that country. Finally, e..
If a natural monopolist is forced to price at marginal cost, does surplus increase or decrease and why? I thought that consumer surplus increased more than the producer lost because now production would be where MC crosses D rather than where MC cros..
Please explain why there is a critical need within the economy and financial system to have money market instruments available to anyone who can afford them? Why are deposit-type intermediaries able to create money? What factors increase the amount o..
Country described by the one-country model in section Suppose that the country temporarily raises its levels of γA. Draw graphs showing how the time paths
Jack sees commuting by bus and train as perfect substitutes (U = B + T), that is, he would exchange one commute by bus for one commute by train. The price of a bus ticket is $1.50 and the price of a train ticket is $ 2.00. Jack has $6.00 to spend on ..
The settlement requires KopyKat to pay the employee $10,000 per month for the next year. Determine the optimal price and output for the firm under these new conditions.
Calculate the year in which income every capita in the United States was equal to year 2010 income every capita in India.
Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce? What will be the deadweight loss created by this monopoly?
If Bill can either produce 10 bales in 1 hour or 20 biscuits in 1 hour and Susan can either produce 12 bagels in 1 hour or 28 biscuits in 1 hour , who had comparative advantage in making bagels? in biscuits?
For a typical firm producing 100 units of output, short-run marginal cost is constant at $65, average total cost is $95, and average fixed cost is $30.
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