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Utilize the dynamic aggregate demand and aggregate supply model to answer the following questions for 2007-2009 recession:
1) How were GDP, inflation, and unemployment affected during the recession, and how does the model show this?
2) What monetary policies and fiscal policies were implemented during the recession?
3) How did the recession affect U.S. trade relations and the U.S. dollar exchange rate?
He lives in the other house and pays $20,000 in dividends per year. If he were to rent the house in which he lives, he could earn $17,000 per year in rent. How much do the housing services provided by these two houses contribute to GDP?
What factors are considered in calculations of CPI? Explain your answer. Where would you find data on CPI and PPI in the United States? What does the current level of inflation tell you about the state of the US economy?
suppose that c a by where c consumption a consumption at zero income b slope and y income.a. are c and y
What is the resources required to produce the things we would like to have--these are land, capital, labor, and entrepreneurs.
There are 15 million people living in Marketstan, of whom 9 million are working and 1 million are actively looking for work. What is Marketstan's unemployment rate?
What do we call the number of dollars received by an individual or group for its resources during some period of time?
Under the maturity extension program, the Federal Reserve sold or redeemed a total of $667 billion of shorter-term Treasury securities and used the proceeds to buy longer-term Treasury securities, thereby extending the average maturity of the secu..
On a typical day, Park Place Clinic writes 1,000 dollar in checks. It generally takes four days for those checks to clear.
Suppose that the labor market has a perfectly inelastic supply consisting of union and non-union workers, and both groups of workers initially earns perfect competition. What happens at the level of the balance of work and wages for union workers ..
What are some of the issues economists study, and why is economics often called "the science of choice"? What are the foci of inquiry in microeconomics and macroeconomics respectively?
What is the consumer surplus after the Pigouvian tax is imposed? Do consumers of oil like the outcome with the Pigouvian tax? What does this say about the political practicality of using Pigouvian taxes to correct negative externalities?
Utilize an elasticity concept to elucidate each of the following observations.
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