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Describe the difference in economic profit between a competitive firm and a monopolist in both the short and long run. Which should take longer to reach the long-run equilibrium?
The fact that since 1973 blacks have never had a lower unemployment rate than Hispanics, who in turn have never had a lower unemployment rate than whites is evidence of a fairly rigid what?
What happens when tariffs are imposed, in terms of the importing and exporting countries? Use graphs as needed and explain your answers thoroughly.
a. How much output should the firm produce in the short run? b. What price should the firm charge in the short run? c. What are the firm's short-run profits? d. What adjustments should be anticipated in the long run?
Suppose the velocity of money is constant at 5 transactions per year, the price level for this year is $1, and real GDP this year is $8,000,000. Suppose the economy's output of goods and services rises by 5% each year. What will nominal GDP be equal ..
What discretionary fiscal and monetary policies might Keynesian economists recommend to close a recessionary gap, and thus stabilize an economy? Explain how they work. What are the limitations of these policies? Why might they not be effective?
How can a college student successfully manage their time during the week to accomplish their learning activities?
A committee of 4 has to be chosen from 12 representatives, of whom 8 are men and 4 are women. If selection is random what is the probability that.
Briefly explain which component of aggregate expenditure will be affected by each of the following transactions. also , indicate whether it will increase or decrease. Suppose the United States experiences a long period of relatively stable prices whi..
Illustrate how the outcome would differ if all 15.3 percent were imposed on the employee or if all 15.3 percent were imposed on the employer."
In 1907, the first U.S. Open Golf Championship was held. The winner’s prize money was $270. In 2012, the winner’s check was $1,470,000. Requirement 1: What was the annual percentage increase in the winner’s check over this period?
Business has only one social responsibility-to make profits (as long as it stays within the legal and moral rules of the game establised by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by..
a. Can an individual tell if their blood type is heterozygous or homozygous? Explain.
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