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Suppose a consumer buys 10 units of good X and 20 units of good Y every year. The following table lists the prices of goods X and Y in the years 2005-2007. Assume that these two goods constitute the typical market basket. Calculate the price indices for these years with 2005 as the base year. Comment on the inflation picture for these years.
Year
Good X
Good Y
2005
$3
$6
2006
4
7
2007
4.5
7.5
Let's say there's a world-wide influenza pandemic. Assume that the marginal cost (supply) of influenza vaccinations is constant at $40. Assume that everyone in society has health insurance that pays 80% of all medical services
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Elucidate your answer also describe terms relevant to elasticity used in your explanation.
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Each paper is to be an analysis on the recent economic events or economic reports from the supplemental resources or references. The focus of this assignment is to relate and analyze current events to basic principles of macroeconomics covered in thi..
Illustrate why would you be reluctant to advise that your country increases its money supply.
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