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If the economy is operating on the upward sloping portion of the short-run aggregate supply, SAS, curve; show that an increase in aggregate demand, AD, from expansionary fiscal policy will result in an increase in both real income, Y, and the general price level, P.
Are Lay's Potato Chips a normal or inferior good and Doritos a substitute or complement for Lay's, the marginal cost of producing a bag of Lay=s is 60 cents. How much should you charge per bag?
The council decides to allow a boat to fish in the lake only if its owner buys a fishing licence. To maximize total profit (of citizens and council), how many groschens should the council charge for a licence?
What is a market structure? Define and discuss in detail the differences between a monopoly, an oligopoly, perfect competition and monopolistic competition.
A hypothetical study examines the operations of a couple of hundreds medical clinics, with the data for amount of expenses for new medical equipment relative to total expenses in particular year(s), and the amount of revenue per physician in subse..
Complete the constraints for a 2-year crop rotation between oats and barley in the homestead paddock and complete the constraint for turnip and millet production in the South Hill paddock
Alfred Kahn, currently an economics professor at Cornell University, led the United States drive to deregulate airline industry as chairman of the Civil Aeronautics Board under President Jimmy Carter.
Choose any 2-of the 4-basic strategies used to preserve security and identify and explain what assumptions are created about the opponent based each of the two strategies that you select.
Few states in the U.S. permit citizens to openly carry handguns. People can save themselves in the case of robberies or harm by using these guns.
What policy did the Fed and other central banks around the world use to try to stabilize the economy during the financial crisis ?
Find the amount of the transfer implied by consultant B and determine whether the consumer is better or worse off from Consultant C's suggestion than before the price increases.
How much substitutability do you suppose exists between inputs in winemaking? How might this factor affect efforts to cut costs?
Explain why governments sometimes impose a price ceiling in a competitive market and explain three types of long run supply curves using the real industries.
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