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1. (Part A) Evaluate the fundamental arguments between Keynesians and Monetarists concerning the level of government involvement in our economy to minimize the impact and stabilize the different stages of the business cycle.
(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 90 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 $8 billion.
Discuss the modern theory of aggregate supply and aggregate demand that incorporates a price variable into Keynesian analysis.
Consider the market for electricity. Suppose demand (in megawatt hours) is given by Q=50-p and that the marginal private cost of generating electricity is $10 per megawatt hour (p is the same units). Suppose further that smoke is generated in the ..
Halle describes "Third-worldism" as an automatic resistance to change among poorer countries to proposals that come from richer countries. What could be done to overcome this distrust?
In Model 3-1, suppose that instead of having a single source of parts, there are three sources of arrival,one for each of three different kinds of parts that arrive: Blue (as before), Green, and Red.
All of the following questions or statements regarding medical school are positive except: A) How do changes in expected future incomes affect the decisions of medical students about which specialty to choose?
How did the heavy rains in South America in 1997 affect the market for coffee? Select the correct graph and explain it. How do you think rising incomes affect the market for ski vacations? Select the correct graph and explain it. How would a ban on s..
Assume the Disney Company was experiencing above normal benefits. What would you predict would happen over time
Provide an economic explanation of what you have shown in your diagram above. Discuss what happens to (1) economic output-per-worker and Discuss the adjustment process that occurs during the transition period from the economy's post-disease situati..
Write a C++ program that consists of three classes, A,B,and C, such that B is a subclass of A and C is a subclass of B. Each class should define a member variable named "x" (that is, each has its own variable named x).
Explain why may a government solution to a marketplace failure worsen the market failure.
Write a program in which the computer plays against a human opponent. Generate a random integer between 10 and 100 to denote the initial size of the pile.
Determine the life Y for alternative B so that the two alternatives will be equally desirable, assuming an interest rate of 10%, and no salvage value for either alternative:
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