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1. Draw a real expenditures curve on a graph showing a recessionary gap. Explain what happens to real GDP when it is initially to the right of the equilibrium point and why? Indicate two public policies that would be appropriate for addressing this situation. Explain their impact on your graph.
2. Draw a real expenditures curve on a graph showing an inflationary gap. Explain what happens to real GDP when it is initially to the left of the equilibrium point and why? Indicate two public policies that would be appropriate for addressing this situation. Explain their impact on your graph.
Explain in detail. Who are the past and present charimen. Why was the current chairman in the news recently and what did he propose?
Discuss and explain japans slow economic growth over the past few decades and the projection that this will continue.
Calculate the number of physicians, per thousand population in Canada, from 2002 to 2005. What conclusions can be drawn about the physician coverage of Canada's opulation?
Functions monotonic transformations? You can determine it by drawing a graph or calculating their derivatives. Assume u > 0 throughout.
Describe the law of demand. Why does a demand curve slope downward? What are the determinants of demand? What happens to the demand curve when each of these determinants changes?
Make sure to label the axis of the graph. Now, add two more production functions based on the following scenarios. a. Efficient institutions are adopted in a country. Label this production function F2. b. A new technology is adopted allowing great..
What is the underground economy? What is the impact on the underground economy of instituting a tax on a certain productive activity?
Assume buyers in the used car market are willing to pay $3,500 for a plum used car and $1,500 for a lemon used car. If buyers believe that thirty percent of the used cars.
You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run. How would you respond to the following scenarios?1. A surprise increase in investment spending 2. Catastrophic floods that ..
The table given below are the demand and supply schedules for television sets in Venezuela, a small country that is unable to affect world prices.
What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition.
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