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While playing around with old economic data in your spare time, you find that in 1963 the unemployment rate was 5.7 percent and the inflation rate was 1.6 percent; in 1972, the unemployment rate was 5.6 percent and the inflation rate was 3.4 percent; in 1979, unemployment was 5.8 percent and inflation was 13.3 percent; in 1988, unemployment was 5.5 percent and inflation was 4.4 percent; in 1996, unemployment was 5.4 percent and inflation was 3.3 percent. Does this evidence necessarily imply anything about the shape of the SRIA curve? How might you interpret these data?
1. suppose there is an increase in supply rightward shift in supply. consider two graphs. in graph x demand is
The payoff depicts service competition between two hospitals in a southwestern city. (Each payoff represents profit in millions of dollars) Hospital B's Service Basic All-Purpose Speciality Hospital A's Basic 5,7 5,4 12,6 services All-Purpose 4,5 ..
What is Century's final payment on May 6? Assume no taxes.
find the optimal level of pollution as recommended, we need to set total marginal cost = 0, then I have 2 + 2P -3 = 0 => 2P -1 = 0 => P = 0.5 You have already evaluated MCP = 2 + 2P and MCC = -3 B) At this level of pollution, what is the marginal cos..
what is the SA government's standpoint on trade and protectionism?what trade policies are in place to manage our trade with the rest of the world
Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes
Once you've summarized and assessed a source, you need to ask how it fits into your research. Was this source helpful to you? How does it help you shape your argument? How can you use this source in your research project? Has it changed how you th..
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 5 red apples and 2 green apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 1 red apple and 7 green apples. Compute a ..
Using the midpoints formula presented in the text, calculate the elasticity coefficient for each price level, starting with the coefficient for the $4 to $6 level. For each coefficient, indicate what type of elasticity is indicated, elastic demand..
The number of people without jobs who had stopped looking for one, believing that there were no jobs out there for them, was about 80,000, which represented a fifth of those not in the labor force. Further, the number of people with jobs throughou..
The demand curve for the new computer game, Rock and Roll Trivia, is given as follows Q= 200 - 5P - .1Pc - .5Pd + .2A -I
the cost of equipment replacement is 150000 every 6 years, beginning 6 years from now. How much money is required in the trust fund now to build the engineering laboratory and maintain its perpetual operation and equipment replacement
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