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Ford earns $45,000 per year. His salary automatically increases by the inflation rate (as measured by the CPI) every year. He currently owes $12,000 in credit card debt at a fixed rate of interest. If the inflation rate unexpectedly rises from 1.5% to 7% next year, will Ford be better or worse off?
The Fed announces that it will purchase $1 trillion worth of bonds. Is this more likely to cause the short run Phillips curve to shift to the right or the left?
Costa Rica is a “small” country and assumed to be unable to affect world prices. It imports blueberries at the price of 10 dollars per box. The Domestic Supply and Domestic Demand curves for boxes are: S = 60 + 20P D = 1160 − 15P. What happens to the..
A Petroleum company recently completed construction on a large refinery in Louisiana. The final construction cost was $71,000,000. The refinery covers a total of 260 acres. If the power-sizing exponent for this type of facility is .70, what is the es..
q.essay questions make sure you thoroughly answer all parts of each question format requirements will be enforced.1.
Illustrate how increase in human capital affects production function. Blue line (circle symbols) in graph below shows production function.
Briefly outline the processes you would use in gathering and analyzing these five additional factors for forecasting the demand curve for natural gas.
Briefly discuss why Thomas Jefferson and ALexander Hamilton understandably prompted alternative policies or paths to economic growth and prosperity. (If i remember correctly one believed in using slaves to make economic growth and prosperity and sell..
According to the text, does the United States better fit the pluralist model or the major itarian model? Why? Explain the key difference between elite and pluralist theory
how can two countries both be better off as a result of trade? how can tariffs protect u.s. jobs? do tariffs lead to a
Assume that a painter produces 20 paintings this year and 20 paintings next year. What is the annual change in nominal GDP if the price of paintings rises from $1,000 this year to $1,500 next year? Can you conclude that the economy grew from this yea..
In a Cournot duopoly, firm 1 has cost function C1 = 20q1, firm 2 has cost function C2 = 40q2, and market demand is Q = 120 - (1/2)p, where q1, q2, Q, and p are output by firm 1, output by firm 2, total output, and market price, respectively. What are..
Consider a Solow economy that begins with a capital stock equal to $300 billion, and suppose its steady-state level of capital is S500 billion. Use the Solow diagram, other graphs, and the mathematics of the Solow model to explain what happens to the..
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