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1. What are the three basic functions of money? Describe how rapid inflation can undermine money’s ability to perform each of the three functions.
2. What are demand shocks? Give an example of a positive and a negative demand shock.
3. What is the difference between a slowdown in economic growth and a recession?
4. What is the opportunity cost of unemployment for an economy? What social problems have been linked to higher rates of unemployment?
Joe subscribes to an Internet provider that charges $2 per hour. He has $100 per month to spend and is at equilibrium by buying 10 hours of Internet access and $80 worth of other goods. Draw the indifference curve and budget line. If the company swit..
Using the net benefit ratio method of Deaton, please tell us whether a 10% increase in output price will increase or decrease the economic welfare of each of the following three agricultural households, by how much, and why (be sure to show your w..
What is probability that these 64 students will spend a combined total between $703.59 and $728.45.
Discuss - Deficit spending paves the road to ruin. Explain how much of the national debt is held by foreigners.
Exportof goods and services to foreigners is $1 million and import of goods and services from foreigners is $1.5 million.
Distinguish between the Federal funds rate also the prime interest rate. Why is one higher than the other.
Suppose that they are thinking of every specializing completely in the area in which they have a comparative advantage also then trading.
q.in economic history there have been many great economists who have developed theories concepts and ideas which have
One month ago, they added five workers, and productivity also increased by 50,000 pages per day. Copiers cost about twice as much as workers. Would you recommend they buy another copier or hire another worker?
According to the rule of most favorable input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the corporation.
Supply is the world supply. Elucidate the consumer surplus at the equilibrium price. What is the producer surplus.
Show long run effect on In Phillips curve diagram. If expectations are rational and increase in money growth is announced, what happens to In short run.
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