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Question: The slope of the Phillips curve: Draw a graph with a steep Phillips curve and a graph with a gently sloped Phillips curve.
(a) Explain how the two economies respond differently to a boom and to a slump.
(b) What are some factors that might influence the slope of the Phillips curve?
(c) Do you think the slope of the Phillips curve has changed over time in the U.S. economy? Consider the United States in the 1970s versus today.
Describe how natural monopolies cause market failure? How is the deadweight loss associated with this form of market failure gauged? What is a typical form of government intervention to correct it? How effective is this kind of intervention? Use the ..
Use the Cobb-Douglas production function of question 1 where a = 0.3 and a deprecia- tion rate of 0.1. Examine the steady state outcomes of an economy that invests 20% and 30% of GDP.
define performance appraisal and explain the areas in which performance data and information are used for making
Scarcity underlies the need for an economic system of any type. What is scarcity? Is it possible to ever eliminate scarcity? In what two ways could an economy try to eliminate scarcity? Will these attempts ever be successful?
Give an example of how you would use this information to set the price for your product in the market place and explain one factor in detail about how shifting demand and supply curves makes market demand estimation difficult
Consider yourself asked to develop a template for gathering information about major gift prospects. What information would be the most important to obtain? Why.
How does a company develop a strategy to navigate all the risks that might be present in a marketplace? Can all the risks be anticipated?
Calculate the (arc) price elasticity of demand for coffee and based on your answer, is the demand for coffee elastic or inelastic?
A certain large shipment comes with a guarantee that it contains no more than 15% defective items. If the proportion of defective items in the shipment is greater than 15%, the shipment may be returned. You draw a random sample of 10 items. Let X ..
Discuss the market structures and ownership that existed prior to 1972 and the ones which emerged after privatisation in 1989. What economic factors contributed to the restructuring of the water industry?
Find the optimal consumption levels for the agent and Find the optimal saving levels for the agent
Consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe the payoffs to alternative trade policies.
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