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Unemployment and Inflation.1. A couple of authors discuss the trade-off between inflation and unemployment. In what sense does this so-called Phillips curve represent "class conflict?"2. In an up-coming textbook chapter you will learn that wages reflect the productivity of labor. That is, higher productivity brings higher wages, and vice versa. How do the readings in this group cast doubt on this morsel of theory?
Suppose a firm is operating in perfectly competitive product market where the price of its output can be sold at the price p=$10. The firm can hire any number of workers at the wage of W=$50.
Through what channels does monetary policy affect the economy? That is, what are the monetary policy transmission mechanisms? List first them, then clearly describe two of these channels.
Suppose a perfectly competitive firm is producing 300 units of output, P = $10, ATC of 300th unit is $8, marginal cost of 300th unit = $10, and AVC of the 300th unit = $6. Based upon this information, the firm is:
The underlying trend of growth in the economy is determined by the growth in the number of workers, the growth in the savings and investment rate.
A small-volume foreign auto maker limits the number of its franchised dealers in the United States and gives them exclusive territories. There are also non-dealers who have no official connection with the manufacturer.
If the economy is at point C, what is the cost of one more automobile? One more rocket? Explain how the production possibilities curve reflects the law of increasing opportunities costs
why Banks are exposed to interest rate risk primarily. what does the Federal funds market involves.
Calculate the new consumer and producer surpluses after thetas has been applied and compute teetotal amount of revenue collected with the tax, and the deadweight loss created by the tax
What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?
How much does the economy have to grow (potential output is, 3.5% and the unemployment rate is 7.3%) in 2014 to bring the unemployment rate down to 5%? How much does it have to grow each year to bring the unemployment rate down to 5% by 2017.
Given the Production Function: Q = 21X + 9X2 - X3, where Q = Output, and X = Input . At what value of X does Stage II of the production function begin?
Briefly explain the meaning of MRTS for this production function and what is elasticity of substitution when the capital-labour ratio changes from 1/10 to 1/30?
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