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The market for an agricultural product is modelled by the following Demand and Supply Curves:
Demand: Qd = 800 - 30P
Supply: Qs = 20P - 100
Where Q is quantity measured in tons, and P is the Price $ per ton
The government decides to provide producers with a subsidy of $4 per ton.
The competitive model predicts that, as a result of the subsidy, the equilibrium market price will fall by?
Actual GDP in a country is estimated to be 10% below potential GDP. Prices are virtually unchanged from one year ago. Unemployment is 12% of the labor force (much higher than the natural rate of unemployment). Which of the following policies would be..
How might the economists or legislators come to the conclusion that there is no unemployment problem? What data or evidence would seem to support this position?
Explain why allocative efficiency and productive efficiency are achieved where P = minimum ATC = MC.
Assume that velocity and aggregate output are constant. If the money supply increases from $1.10 trillion to $1.18 trillion:
For this assignment, choose a peer-reviewed article to critique related to homeland security and law enforcement, or choose an objective from this unit to search for your article.
In December 2014, the international price of oil has dropped to almost half of its level in June 2014. What do you think the expected impact of this drop on the US economy in the short run and in the long run using the AD and AS model? Hint: Think of..
Would like everyone to consider two very important concepts of economics this week: absolute advantage and comparative advantage. Both terms are critical, especially on a macroeconomic level. Countries must think about what they are going to produce ..
Analyze four economic indicators (unemployment rate, quits rate (quit rate in U.S. English), housing starts, consumer price index (a measure for inflation), consumer leverage ratio, industrial production, bankruptcies, gross domestic product, broadba..
Find out a numerical equation linking planned aggregate expenditure to output. Show the determination of short-run equilibrium output for this economy using the Keynesian cross diagram.
Considering offshore and ERP approaches, will you perform data modeling as part of your requirements gathering and structuring process? Will you include process models, such as data flow diagrams? What about human interface specifications?
We are all familiar with fluctuating prices of gasoline at the pump. Explain why does this happen.
Developing an integrated approach to marketing a product, service, or idea ensures that the 4 Ps are compatible. There are some products whose value or utility are challenging to define and must be remarketed to existing or new target audiences. What..
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