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Assignment:
Consider the economic developments associated with the Great Depression (early 1930s) or with the Great Recession (late 2000s) in the United States. Make it clear which one you are using in your answers.
a. Who you think provided the best explanation for the shocks that triggered the crisis and for the way the crisis evolved, the Classicals or the Keynesians?
b. Consider the FED's main monetary policy actions to address the crisis. Were they inspired by the classical or Keynesian paradigms?
According to Inter brand Corporation, the Coca-Cola brand name (not the company) is worth $67 billion. At least theoretically, this is what Coke could get for the name if it decided to sell it to someone else.
Illustrate using a fully labeled supply and demand graph (label all the axes and any lines you put in your graph) what such an artificial price looks like.
Define protectionist policies and describe how the imposed restrictions work and analyze the impact of such policies. Find three public policies framed by the government that have posed restrictions on international trade.
On Valentine's Day, the price of roses increases by more than the price of greeting cards. Why? (Hint: Consider what makes roses and cards different and how that difference might affect supply's responsiveness to price.)
elliot industries has a rather unique product that sells for 25 per unit and the marginal cost is 11.25. determine the
We explained how a central bank has an important role in maintaining confidence: "High confidence" keeps velocity growth and the money multiplier from falling.
We saw that real shocks and AD shocks often occur simultaneously. When this happens, unless we know the exact size of each shock.
What is the specific market-failure justification for government spending on (a) public universities, (b) health care
Suppose the government implements a price subsidy program instead of the price support program. Let the government target price be $55. What is the cost of the subsidy program to the government?
Why would suppliers be willing to accept prices that cover variable costs, but do not cover total costs? How does the answer depend on whether the decision is a short-run or long-run decision?
Suppose that Jack has 150 books and he goes out this weekend and purchases an additional 30 books. What is the percentage change in the number of books that Jack owns
Describe the model of consumer buyer behavior. Providing a list of the steps or a graphic of the model is not adequate, as you must explain how the process works in the real world using your own words.
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