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Briefly explain why empirical consumer demand studies such as Patrick McCarthy's study of automobile demand are relevant to managers?
If society wants aggregate demand to increase without changes in the price level, then there must be a)a gap between full employment and the current level of real GDP and an increase in autonomous spending b)an increase in autonomous spending
If the income elasticity of a particular good is negative 0.2, it would be considered 1) a superior good 2) a normal good 3) an inferior good 4) an elastic good
Elucidate the impact of inflation, unemployment and the business cycle. Explain if the conditions are consistent with the Keynesian or classical economic theory.
It has been proposed that toll collection on the Massachusetts Turnpike, a key commuter route into Boston from the west, be discontinued. Proponents argue that tolls have long ago paid for the cost of building the road
an excise tax may be imposed on a commodity in order to raise revenue for the government or in order to reduce the
Elucidate what would you expect to happen to the nominal yields changes in inflation expectations and required real yields occurred.
A city has decided to impose rent controls, and it has established a rent ceiling below the previous equilibrium rental rate for offices throughout the city. How will The quantity of offices that building owners lease change
Suppose a new law establishes a minimum teacher salary that is 20 percent higher than the prevailing salary. How would you expect this law to affect the average quality of teachers and the taxes paid by the typical household?
What is a balanced budget rule for the federal government?
Susie is at the grocery store buying milk. She has a choice between milk from Dairy A or milk from Dairy B. She doesn't actually care at all which dairy her milk comes from. (a) Draw a possible indifference curve for Susie between milks A and B.
Assume a country has been running a significant expansionary fiscal policy for several years. Monetary policy has not been particularly expansionary.
Answer the following questions as these general questions pertain to the specific issue selected.The questions that you will cover with respect to your choice of broad social issue in the paper are given.
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