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How would each of the following affect the current level of full-employment output? Explain. a. The new government changes immigration policy to restrict the number of immigrants entering the country each year. b. New technology allows massive production of oil and gas through fracking. c. A hurricane of unprecedented strength hits the country leaving huge damages to residential and business properties and infrastructure. d. Robots equipped with artificial intelligence are widely used in production.
Maximizing profit for an economist is:
Assume that the typical household behaves according to Irving Fisher's two period model, that consumption in both periods is a normal and that households are initially savers.With the aid of a diagram, analyse how a tax cut in period two affects cons..
In 2011, the CPI increased by 1.4%, the GDP price index increased by 1.2% and the PCE increased by 1.8%, we can see all are increases, but why does each one of these measure give a different inflation rate?
What is the affordable care act and how does it affect the US and its current insurance policies?
What is the strengths, weaknesses, opportunities, and threats (SWOT) of healthcare and public heath care sectors in regards to its stability against terrorist
Police are attempting to estimate whether or not motorists are traveling at more than the posted limit of 40km per hour in a certain school zone on average.
The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that unemployed have been out of work. One convenient summary measure is the median duration of unemploy..
1. Example of informal estimation of probability. 2. how you would calculate the same probability in a more rigorous (i.e., formal) way.
Providing handouts to the audience before a presentation is not advisable because
The ratio of consumer liabilities to consumer financial assets rose from just over 10% in 1950 to more than 30% in 2009. However, recent researches points to a number of factors that bear on the consumer’s decision of when and how much to borrow. Lea..
How to Use the AD-AS framework to demonstrate the impacts of a tax cut on output and inflation in short-run. (please have a clear graph and explain it)
The Pilot Pen Company has decided to use 15 test markets to examine the sensitivity of demand for its new product to various prices, as shown in the following table. Advertising effort was identical in each market. What is the price elasticity of dem..
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