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You now should realize how important it is for economists to try and predict future conditions of the U.S. economy. Economists are also interested in the performance of the economy at a more local level. Discuss how local and national forecasts play an important role in the State and Federal levels. There have been significant discussions on the government's fiscal policy during the Great Recession. In particular, many did not like the government's actions in salvaging the auto industry in providing guaranteed loans to GM and Chrysler. What is your opinion? Provide economic reasons for your opinion
q. the road runner club contributes money to senator slys reelection campaign fund and senator sly helps pass
For the following three cases, use a midpoint formula to calculate the coefficient for the cross elasticity of demand and identify the relationship between the two goods (complement, substitute, or independent).
Training and Friction. Assuming diminishing marginal product of additional workers and diminishing marginal product of additional hours-per-worker, how would a profit-maximizing arm adjust its mix of workers and hours-per-worker in response to [ceter..
Explain each of the four components of GDP. An individual has 10$ million on deposit in a financial institution drawing interest. That individual has no reason to fear inflation or recessions.
Suppose the Congress decides to reduce transfer payments but to increase government purchases of goods and services by an equal amount. That is it undertakes a change in fiscal policy such that ΔG = - ΔTR. Find the change in equilibrium income. What ..
You have maxed out your $10,000 credit card, which is being charged 12.8% interest compounded daily. What is the minimum monthly payment to continue to break even? How much should you pay each week to get out of debt within one year?
Several years ago, a man won $27,000,000 in the state lottery. To pay off the winner, the state planned to make an initial $1,000,000 payment immediately, followed by equal annual payments of $1,300,000 at the end of each year for the next 20 years. ..
Inflation and Quantity theory of Money. Adapted from Jones Q3 Ch 8: What is the key endogenous variable in the quantity theory? (Read chapter 8 if this isn't clear) Explain the effect on this key variable of the following changes (holding everything ..
Volumetric oil reservoir with pressure dropped from 2000 psi to 1000 psi with 30 MM STB oil was produced. Gas oil ratio was 900 Scf/ STB at 1000 psi , while the current gas oil ratio is 2200 scf/STB . Porosity= 20% , Sw= 0.15 .the temperature of the ..
Income per year: $60,000 $60,000 $80,000 Movie Ticket Price: $11 $13 $13 Rounds of Golf: Quantity Demanded Quantity Demanded Quantity Demanded Price = $50 15 10 15 Price = $35 25 15 30 Price = $20 40 20 50 a. Using the data under D1 and D2, calculate..
The Marginal Product of Labor and the Marginal Product of Capital are given.
The unintended consequences of raising minimum wage from $8 to $12 per hour will create more unskilled unemployment in the economy. True or False, explain. The unintended consequences of raising minimum wage from $8 to $12 per hour will create more u..
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