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1. What distinguishes money from other assets in the economy?
2. What are demand deposits, and why should they be included in the stock of money?
3. If there was no item in the economy widely accepted in return for goods and services, how would transactions be carried out in this economy? How efficient would such a system be?
What is the profit-maximizing price-output combination and what are the levels of the profits and consumer surplus at that point? What is Dead-weight-loss?
Macroeconomics questions, discuss the short-run and long-run effects, Keynesian model, Distinguish between ongoing demand pull and ongoing cost push inflation.
Changes in government spending and interest rates
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
You're the absolute czar and head of union of 1,000 plumbers in Austin, Texas. You've the absolute power to set the wage at which the plumbers will work. You wished to achieve full employment at highest possible wage; (b) you wished to maximize the..
Discuss how absolute advantage and comparative advantage differ? Kyle can read 20 pages of the economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying. Draw Kyle's production possibilities fron..
Questions on Long-Run Labor Demand and Factor Substitutability, Own-price elasticity, Cross-price elasticity
Which of the following strategies are used by businesses to capture consumer surplus? Nash equilibria are stable because
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
A tariff I ssimply a tax on imports. Use our model of the excise tax (with diagram) to expain why domistic firms request that tariff? Consider both the domestic and the foreign country in your answer
Discuss how each of the following developments would affect the supply of the money, the demand for money, and the interest rate. For each case, describe what happens in closed economy and in small open economy. Describe your answers with diagrams.
Use diagram to describe how each of the following events affects the equilibrium price and quantity of pizza (draw a separate diagram for each event)
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