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(Part A) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline 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 two or three brief paragraphs.)
(Part 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.
(Part C) You are told that 80 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 $200 billion.
What would happen if no one tried to manage the business cycle? What role do you see for the Executive Branch of the U.S. government in managing the business cycle?
How much does it cost to practice medicine? Are malpractice insurance premiums a major cause of higher doctor bills? Is medical care sold like other goods and services?
How would you characterize the competition (market structure) in the restaurant industry? Are there submarkets? If so, do these submarkets have distinct competitive pressures? How may a restaurant maximize profits?
q. this is a drag-and-drop question. click on the curves below and drag them to a new location on the graph that will
One critic of the North American Free Trade Agreement argued that "it can't be in our interest to sign this deal; Mexico gains too much from it." What does the theory of the gains from trade have to say about that criticism?
The U.S. cigarette organization has negotiated with Congress also government agencies to settle liability claims against it.
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
What is the difference between contractionary and expansionary monetary policy? What is the difference between contractionary and expansionary fiscal policy? How does each policy affect the AD in the economy? What are the benefits and major problems ..
Why is organic food a positional good? What other ways do wealthy people have an advantage in avoiding pesticides? How does this relate to global inequality? How are organic foods produced, marketed, and sold in a capitalist society? Compare and cont..
Demand for money holdings are. One result of a successful contractionary monetary policy would be. Assume the reserve ratio is 20 percent and Federal Reserve’s buys $4 million of Treasury bills from the public. The public places these new deposits in..
A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
Illustrate what wage would a monopoly union demand Explain how many workers would be employed under union contract.
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