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what are te three main aggregate supply factors that determine a nations potential level of real output? what are the four main components of aggregate demand? "explain" aggregate supply factors determine a nations potential gdp, whereas aggregate demand factors determine whether or not the nation achieves its full employment gd. how does fiscal and monetary policy relate to aggregate demand?
Describe why the US farm policy is failing. Why were the WTO 2005-6 meetings a failure. What were the main issues and reasons.
The Conference Board publishes an index of Consumer Confidence that is good measure of the non price determinant of demand, customer expectations.
Describe three problems of using fiscal policy to achieve a precise level of GDP and why is frictional unemployment inevitable in an economy characterised by imperfect job information and non-zero job-search time?
Describe the Federal Reserve System. Be sure to mention and discuss the Board of Governors, the regional Federal Reserve banks, and the Federal Open Market Committee.
What are the two problems facing the Bank of Canada in trying to control the money supply precisely?
Nobel Laureate Paul Samuelson said that comparative advantage is one of the few ideas in economics that is both "true and not obvious." Since it's not obvious, we should practice with it a bit. In each of the cases below, who has the absolute adva..
In 2003 the state of Arizona discuss that there was a shortage in correctional officers. Determine how correctional officers' wages are calculated.
Compute the optimal price using the arc formula for elasticity. How does the arc formula for elasticity factor in to these equations.
Explain why we cannot necessarily conclude that the typical Canadian's welfare has improved by 10-percent over the year.
Assume that the required reserve ratio is 10%. If the Federal Reserve buys a $10,000 government bond from an individual in the economy, what is the initial effect on the money supply. What is the ultimate effect on the money supply
Katya is a freshman with a 3.0 grade point average. She studies diligently, but experiences severe anxiety before tests because she doesn't believe that her efforts will make a difference. It is almost the end of the semester and Katya must do wel..
Illustrate what are the limits to the exchange rate at which it makes sense to produce in both countries.
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