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What’s the role of price in allocating the resources? Give logical examples for explanation. Draw graphs where necessary.
(max three pages,Minimumm 1.5 page?
Explain what the new equilibrium point means in terms of GDP and the price level. Based on your understanding of the current health of the economy, was this program successful? Why do you say this?
Assume that the aggregate demand curve is P=120 - Q, where P is price level and Q is real output. If the short-run aggregate supply curve
a. Graphically explain what happens to the reservation wage if someone needs to spend some of their non-labor income on day-care services in order to become employed. b. Graphically explain what happens to the reservation wage if someone experience..
Suppose that in the Akerlof example, there are only eight cars ranging in quality from 1/4 to 2 ( there is no complete lemon). Hence, the mean quality level is 1.25. Determine whether the market disappears completely, and if not, how many cars wil..
Find Marens consumption in the two periods ( as a function of m1,m2 and r)3) If the interest rises, how will Maren chanhe her consumption in each of the two periodes
Governments worldwide are turning to "protectionism" to cope with economic problems, imposing tariffs and subsidies on foreign goods and restrictions/incentives on their own firms to keep jobs at home. What are the strategic implications of this t..
Rcognize the three phases of production and describe why the firm short run production has only one rational stage of production.
Obtain price elasticity of demand for good one. Obtain income elasticity of demand for good and find the amount of compensation needed for Hicks compensation
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
If your child is born today, how much will you need to put away per year, at end of each year through your child's 18th birthday, so that no additional payments need to be made after year 18
Does the quantity of trash increase or decrease the willingness to pay for an additional trip?
In the hope of big returns, venture capitalists give funds to finance new firms. However, potential competitors and structures of market into which the new company enters are extremely important in realization of profits.
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