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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 influenced 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.
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. The effect of government regulation on a monopolist's production decisions.
Total utility is determined by: a. finding the additional utility gained from consuming one more unit of a product. b. dividing the marginal utility derived from consuming a good by its price. c. multiplying the quantity purchased of a good by the pr..
In 2010 and 2011, the government of Greece risked defaulting on its debt due to a severe budget crisis. Show, using the bond market graphs, the effect on the risk premium between Canadian government debt and comparable maturity Greece debt.
Suppose the government decides to raise the gasoline tax as a way of reducing air pollution and traffic congestion to their optimal levels. Which of the following describes why Pigovian taxes, such as gasoline tax, are unlike most other taxes?
What is the cost of regular unleaded fuel in your town? What are some contributing demand and supply factors to the differences in fuel prices around the country?
Suppose disposable income is expected to increase by 5 percent next year. Assuming all other factors remain constant, forecast the percentage change in the quantity of haddock demanded next year.
Draw the supply and demand curve. What is the equilibrium price and equilibrium quantity? What is going to happen to the equilibrium price and equilibrium quantity if a draught is going to destroy the coffee harvest in Brazil, one of the largest coff..
Consider an income guarantee program with an income guarantee of $5,000 and a benefit reduction rate of 40%. A person can work up to 2,000 hours per year at $10 per hour. Draw the person’s budget constraint with the income guarantee. Be sure to place..
John raises bees to polinate his orchard, a couple of bees which escaped ended up polinating his neighbor's orchard so: the optimal quantity of ail pollution is: technological changes that makes it easier to produce in a "cleaner" fashion would cause..
For each set of individual demand functions, calculate the market demand function and draw both the individuals' and market demand on 1 graph.
elucidate why not and propose a mechanism that might solve your dilemma.
From 1970 to 1983, corporations expanded impressively in number, receipts, and assets. In numbers and receipts, at least, the picture is dominated by firms with assets no more than one million dollars. If the proportion of output produced by large fi..
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