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According to traditional Keynesian analysis, which has a larger impact on GDP--a dollar of tax cuts or a dollar of additional government spending? Which would usually help to fight a recession more effectively--tax cuts or additional government spending? Why?
Gross Domestic Product involves a calculation of the total value of the goods and services generated within an economy in a stated or identified time period. The main difference between real GDP and nominal GDP is that nominal GDP does not consider h..
Given the short-run (SR) cost curve in the chart above for a firm in a perfectly competitive market, find the firm’s best output level and total profits when the market price is: a) $18, b) $13 c) $5 d) $3.
The hybrid model of a car averages 40 miles per gallon as compared to the regular model that gives only 28 miles per gallon. Assume that the resale value of the Hybrid model would be $500 more at the end of five years as compared to the regular model..
If both nations reduce trade barriers and again begin to trade but now N1 exports goods into N2, but N2 has little to export into N1, what will be the nature of capital and labor flows between the two nations? Explain your reasoning.
What happens to the equilibrium price and quantity in a competitive market under following conditions?
Based on the Immigration lecture and the lessons on immigration in this unit, explain the costs and benefits of immigration. What other costs or benefits to immigration would you add to this list? What are some immigration policies that you agree wit..
Your company has immediately acquired another company which has locations in Quebec also Paris.
Chelsey is a mother of two and buys her kids\' favorite, Kraft Macaroni and Cheese, when the price of Kraft is the same as the price of the store brand stuff. But when there is any price difference, she buys the cheaper product.
Fiscal policy changes automatically when output and employment fluctuate a. Explain why tax revenue changes during a recession b. Explain why government spending changes during a recession c. If the federal government was required to operate under a ..
A firm has the capacity to produce 1,000,000 units of a product each year. At present, it is operating at 70 percent of capacity. The firm’s annual revenue is $700,000. Annual fixed costs are $300,000, and the variable costs are $0.50 per unit. What ..
The elasticity of demand at the profit-maximizing point on demand is __________ (elastic, inelastic, unit elastic), as it must be for profit maximization to occur. Total revenue ________ (is, is not) maximized at this point on demand. The maximum pos..
Advise Steve whether he will able to rely upon his insurance policy. Support your answer with relevant cases and legislation.
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