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Question 1.
Question is based on Lectures 7 and 8.
After the early successes of industrial revolution, each of the following countries faced stagnations, recessions or depressions. Explain features of those stagnations, recessions, or depressions.
a. USA
b. UK
c. Japan
d. Germany
Question 2.
a. Explain Short-Run Phillips' Curve.
b. Explain Long-Run Phillips' Curve.
c. Explain reasons for the disappearance of Short-Run Phillips' Curve.
What are some reasons why Joe should turn down the invitation? What are some reasons why Joe could accept the invitation?
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As you heard in the debates and town hall meetings during the last election, the candidates often differed on the state of the economy.
Our world is one of unavoidable scarcity, and so to use more resources to produce guns is to have fewer resources available to make butter.
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For what reasons might the long-run aggregate supply curve be (a) Vertical; (b) Upward sloping; (c) Downward sloping?
A labor leader has announced that her union will go on strike unless you grant the workers a significant pay raise. You realize that a strike will cost you more money than the pay raise. Should you concede to the wage increase? Explain.
The Jung Company includes a premium in each box of its cereal. For four premiums plus $2.00, customers are entitled to a plastic doll that costs Jung $4.50 each. J
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The implication is that transferring the formal political and economic rules of successful Western market economies to third-world and Eastern European economies is not a sufficient condition for good economic performance. Privati-z..
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