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Keynes' Law and Say's Law. How do they differ and how are they the same? Also, how would they relate to aggregate demand and aggregate supply?
Take a simultaneous increase in supply and demand curves and discuss what happens to the price and quantity now.
Identify any externalities associated with initiatives to develop alternative fuels in the United States. How do these externalities affect the market outcome? Is it possible for a government's solution to a market failure to actually worsen the fail..
By how much will total economic surplus change if the city council passes a law requiring employers to include full reimbursement
You are a policy adviser responsible for air pollution in a region where there are only two chemical plants run by firm A and firm B. Firm A’s pollution abatement costs are 2x^3 , where x is a unit of pollution. Suppose your boss, an elected politici..
a). Calculate the price elasticity of demand. (hint: use the arc elasticity formula worked out in Live Session). b). Interpret your result.
An aggregate-supply (AS) curve is described by the equation Y = YLR + a × (P – PEXP), where Y is current output, YLR is the long run level of output, a is a positive constant, P is the current price level, and PEXP is the expected price level. Suppos..
List and explain the three reasons the aggregate-demand curve slopes downward.
Describe the business and, utilizing the concepts of unit and the earlier units, discuss - what costs you would incur;
Two of the most important concepts we’ve talked about in class are the technical rate of substitution between two inputs and the ratio of the price of those inputs. Explain, briefly, what each of these concepts represent in terms of tradeoffs, and wh..
Why do economists use economic models when making predictions or assumptions about the economy? Which economic model do you believe is the most beneficial to YOU at the present time? Why? *Economic Models: circular flow diagram, production possibilit..
Write a Java program that addresses a real world problem that needs a linked list. Create a linked list of objects (the object should be a realistic entity). Do NOT use the Java api libraries for this.
Consider a supplier of agricultural equipment who is deciding how much of two products should be produced by his firm. You determine what the two products are. Now create a report that includes a discussion and analysis regarding how such a supplier ..
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