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Suppose that the full employment level of nominal GDP rises in one year from ?$16.2 to ?$17.8 trillion. The? long-run equilibrium price? level, however, remains unchanged at 108.
By how much? (in real? dollars) has the? long-run aggregate supply curve shifted to the right from one year to the? next? ?$_____ trillion (round your answer to two decimal places).
Look up the Common Agricultural Policy and explain what this policy means and why China and India are so set against such a policy. Also, explain if you agree or disagree with China and India and defend the position
Studies that consider the effects of immigrating from Mexico to the United States generally find that the big winners are the immigrants themselves. Explain this result in terms of the example in the question above. How might things change if the bor..
A major producer of consumer goods set out to forecast the price of fresh salmon three years ahead. Such a forecast was needed in deciding whether the firm should enter the business of supplying salmon. The firm's analysts estimated the quantity of f..
How does the real wage rate at point c compare with the real wage rate at point a. How do nominal wage rates compare at those two points.
During 2009, the demand for LCD televisions appeared to be falling. At the same time, some industry observers expected that several smaller television manufacturers might exit the market. Use a demand-and-supply graph to analyze the effects of these ..
Explain why the following are examples of monopolistic competition. There are number of fast food restaurant in town and they compete fiercely. some restauratheir hamburgeropen flames others fry their hamburgin addition some serve boiled fish sandwic..
Name three items you have purchased during the past year that have increased in quality during the year. What kind of adjustment would you make in assessing their prices for the CPI?
What are exchange rate stabilization techniques for big firms with international branches that try to reduce their tax liabilities?
Compound consolidated corporation (CCC) produces containers using two inputs: labor and glue. If labor cost 10.00 per hours and glue costs 5.00 per gallon, draw CCC's budget line for a total expenditure of 100,000. In this same diagram, sketch a prod..
Behavioral economics focuses on
A profit-maximizing monopolist named Billy faces an inverse demand function described by the equation p(y) = 40 - y and his total costs are c(y) = 7y, where prices and costs are measured in dollars. In the past Billy was not taxed, but now he must pa..
The company's settlement obligations are expected to raise its average total cost per pack by about $60. Illustrate what effect will this have on its optimal price.
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