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Many economists view the natural rate of unemployment as the level observed when real GDP is given by the position of the long-run aggregate supply curve. How can there be positive unemployment in this situation?
EC1060 Introduction to Quantitative Economics Assignment, University of Warwick, UK. Calculate the profit-maximizing price and quantity
Find out the income elasticity of demand. Elucidate whether gas is a normal or inferior product.
How much do producers value one more unit of output? Use the concepts of consumer surplus and producer surplus to explain why Q2 is more efficient than Q1.
Assume the consumption function is given by C=200+0.5(Y-T) and the investment function is I=1000-200r, where r is in percent. G equals 300 and T equals 200. Find the equation for the IS curve (hint: use the formula for equilibrium Y = C + I + G and t..
One country may be able to produce all goods at a lower cost however this country may still find it beneficial to trade with others.
If the price of a basket of goods in 1982-1984 was $200, the price of the basket in 2009 was $500, and the price of the basket in 2010 was $700, what is the CPI
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms (at the same time, some internet businesses such as grocery home deliveries
a. If Blutarsky only cares about the total amount of alcohol in his basket, what is his marginal rate of substitution of bottles of vodka for six? packs of beer? b. Write out a utility function to represent these preferences.
Discuss the economic, social, and cultural reasons for differences between the population densities in these two regions. Evaluate the polices of the DN with those of the LDN you chose as they relate to reducing the population/fertility rates. Explai..
Explain why factors that are not part of the calculation of the Gross Domestic Product (GDP) can be important exclusions that have important meaning for understanding domestic macro-economics.
These regression results are compatible with the law of demand. (true/false) What does a regression coefficient measure? (Or, how do you interpret the coefficient on a variable?)
consider a market where supply and demand are given by qxs -14 px and qxd 91 - 2px. suppose the government imposes a
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