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Assignment:
Read 5 reasons why the world is running out of chips on YouTube. What are the five reasons mentioned in the video that caused the current global chip shortage? Based on the current price and stocks, do you still see a shortage for Playstation 5 and XBox series X consoles? Can you explain the whole global chip shortage and the hike on the chip price by using the supply and demand model (to explain why at $499, there is an excess demand now)? To overcome the chip shortage, what can U.S. government do and how will the supply and demand of computer chips change with the new policy (how will government change the supply or demand of computer chips to end the shortage)?
Students will example the model economists use to analyze the economy's short-run fluctuations--the model of aggregate demand and aggregate supply.
If rising gasoline prices increase the cost for delivery to firms such as FedEx, how would that affect the cost curves for Internet retailers such as Amazon.
The publishers objected to the recommendation, arguing that the recommendation would "effectively punish the [publishers] by prohibiting agreements with Apple using an agency model." What is an agency pricing model?
Suppose a 10% change in the price of gasoline decreases the quantity of gasoline demanded by .5%. Calculate the elasticity of demand and determine whether the demand is elastic, inelastic, or unit elastic.
We noted that in the 1970s price floors on airline tickets caused wasteful increases in the quality of airline trips.
why does the law of diminishing marginal utility encourage people to spread their spending across many different types
Automobiles of the future will most likely be manufactured largely with carbon fibers made from recycled plastics, wood pulp, and cellulose.
Using the Keynesian cross model, draw a graph to illustrate and explain what will happen in an economy when planned aggregate expenditures are greater than real GDP (i.e., A.E. > Y). How is equilibrium achieved in this economy
At the beginning of the twentieth century, there were many small American automobile manufacturers. At the end of the century, there were only three large ones.
What is a hypothetical situation in a common lifestyle where most humans could apply helpful behavioral economic concepts such as nudging and avoiding
Old cellular phones generate a negative externality when they are consumed because they lead to environmental damage when they are discarded.
Show your steps. B. After the equilibrium is reached, suppose 100,000 new jobs are created, causing 200,000 new migrants to enter the city. Does the equilibrium rate change? What is the new rate of urban unemployment right after the new migrants h..
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