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(a.) Suppose your local Congress representative suggests that the federal government should NOT intervene in the baseball ticket market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief -- you can answer this in 2 or 3 brief paragraphs).
(b.) Any change in the economy's total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.
(c.) You are told that 75 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $25 billion.
Explain how can you go about finding L, normally it is either the budget constraint and utility functions slopes are equivalent,
Create a scatterplot with age on the horizontal axis and the log of price on the vertical axis. Do older wines tend to sell for more than younger wines? Does an older wine always sell for more than a younger wine?
Four companies calculate their fixed costs per period of production, and their variable costs per unit of product during the period. Each company sets a selling price and calculates the number of units of product that must be manufactured and sold..
Define scarcity and Opportunity cost. Scarcity is the fundamental economic difficulty of having seemingly unlimited human needs and desires, in a world of limited resources.
determine the effect on either the aggregate demand curve (is it a rightward or a leftward shift), the aggregate short-term supply curve, and the long-term aggregate supply curve (does the upward sloping portions of the SAS curve shift left or rig..
Illustrate what are the major macroeconomic goals of all societies.
look up for the numbers of the M1, M2 and M3 monetary aggregates in the European central bank euro area statistic for the most recent last-year period since the outburst of the global financial crisis.
However, many critics contended that this "sequester" measure is only temporary and too small given the $4T US government budget to have a significant impact on the economy. Therefore, many economists considered this spending cut as too small to ..
Write an essay about monopoly
How can we reduce poverty in the United States? Will receiving a college degree improve your career opportunities? Has the United States peaked as a world power?
Explain why is private property and the protection of property rights, so crucial to the success of the market system.
directions be sure to make an electronic copy of your answer before submitting it to ashworth college for grading.
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