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Using Economic Indicators to Analyze the Economy
The economy has seen the unemployment rate increase from 6 percent to 9.5 percent, the inflation rate decrease from 2.8 percent to 1.2 percent, and there has been a 24 percent decline in consumer spending and a 45 percent decline in investment spending in the same time period.
a) Given the above, what would you predict about the overall direction of the economy?
b) Describe the appropriate discretionary fiscal policy that the government should adopt, given the above situation.
c) Describe the appropriate monetary policy that the central bank should be operating, given the above situation.
Assume an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. What is the growth rate of its real GDP?
Elucidate the difference among a monopoly and an oligopoly, the welfare effects of monopoly, cost advantages that create monopolies, government actions that create monopolies, and government actions that reduce market power.
Illustrate the point price, income, also cross elasticities at the present values. Interpret your answers, saying how much a 1% change in each variable impacts demand.
Use both an individual's indifference curve and budget line, and the aggregate labor supply curve to explain and illustrate your answer.
What can you say about the relationship between marginal revenue and marginal cost for output rates below the profit-maximizing (or loss-minimizing) rate? For output rates above the profit- maximizing (or loss-minimizing) rate?
This exercise is an illness which has caused three capable observable things to happen. What are they?
Illustrate what would each political philosophy of utilitarianism, liberalism, and libertarianism likely suggest should be done in this situation.
Explain how much pollution reduction should Appalachian Coal Mining undertake.
Illustrate what options do Americans have in protecting their Social Security and dealing with these issues? How are these done on the microeconomic level.
Is the subsiquent events cause the dollar to appreciate or depreciate against the Euro.
Briefly elucidate how knowledge of price elasticity between different groups of customers
Customer demand for gasoline changes when the price of gasoline falls.
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