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Question: Imagine that the entire Australian national economy could be depicted as a single market with supply and demand for all goods and services produced by that economy. (In other words we are assuming that whole economy behaves just like the sum of its parts, i.e. the individual markets for particular goods and services added up).
(a) Depict the Australian economy in a single supply and demand graph (properly labeling curves and axes).
(b) Now draw a second supply and demand graph for the national economy depicting how the recent fall in Australian mineral exports has affected the overall economy. (Remembering that the minerals market is a major part of the overall national market).
(c) Use your first and second diagrams to tell a story about why minerals prices are falling. Keep in mind this is not necessarily the whole or even the correct story but the one implied by your model.
In a 2-3 page essay, discuss what you see as the future of labor unions and the role they will/will not play in the U.S. economy. In your essay, be sure to consider the factors that you see as critical in determining the role unions will play in ..
What are two possible fiscal policy solutions for the problem? Using a Keynesian approach, you should be able to get numerical solutions. More points are given for numerical solutions.
What do you refer to a situation whereby an individual will be better off taking an action if the extra benefits from taking the action are greater than the extra costs?
Paul Volker was chairman of Federal Reserve system in the late 1970 and through most of the 1980.
The US is proposing a significant rise in duty on Canadian softlumber. USE APPROPRIATE DIAGRAMS to answer the questions about the Canadian economy.
Discussing the Keynesian explanation of prolonged recessionary and inflationary gaps as well as the Keynesian approach to correcting these problems
Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken and the price of each bucket of chicken was $10. In 2005 the price per bucket of chicken was $20 and 22,000 buckets were produced.
where p represents the number of Pokémon someone has caught, and 0 represents some private information. 0= 100 for a low quality date (Just a typical Pokémon trainer) whereas 0 = 2311 for a high quality date (a Pokémon master).
1. If there are 50 observations in a sample, how many degrees of freedom are there? (The context here is for finding a t value when constructing a confidence interval or testing a hypothesis for the pupoulation mean)
The Textile Workers of America is planning to strike for higher wages. Management predicts that, if the strike is successful, the cost of labor will increase to $100 per day. If the strike is successful, how would this affect the decision in quest..
Moving Equilibrium. Show the effect of each on the monopoly market equilibrium; you don't need to have exact answers but explain the direction of change in the demand and/or marginal cost curves.
Determine the cost trend of the intervention program since its implementation. Analyze the arguments for government intervention as opposed to arguments for market-based solutions.
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