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How does the Keynesian aggregate supply curve differ from the classical one? Is one of these specifications more appropriate than the other? Explain, being careful to state the time horizon to which your answer applies.
The firm's production manager claims that the firm's average cost of production is minimized at an output of 40 units. Furthermore, she claims that 40 units is the firm's profit maximizing level of output.
Suppose that the price elasticity for hip replacement surgeries is 0.2. Further suppose that hip replacement surgeries are originally not covered by health insurance and that at a price of $50,000 each, 10,000 such surgeries are demanded each year..
On October 31, 2010 the USDMXN was 10.00. On the same date in 2011, the MXNUSD exchange rate was $0.07692. (use abbreviations only - USD or MXN) By what percent and in which direction did each currency change over this time period.
If price of motor vehicles rises, what will happen to the demand of fuel oil In which direction the demand curve for fuel oil will shift with a rise in price of motor vehicles
Now suppose that the manager of the Three Peaks increases the number the newspaper ads to 80 per week. Examine the effect of this change on the price elasticity of demand for lift tickets. Should the Three Peaks lower its price while increasing it..
Draw the US consumption possibility frontier under the assumption that it can trade at Canada's rate of transformation.
You went on a trip to Tombstone, Arizona and stopped into a gift shop, where you began talking with the owner. You find out that she needs to apply for a small business loan and needs to calculate the net cash flow for the year 2015.
Assume Firm Y's production function is given by the following Cobb Douglas equation: Q = 0.5 x L0.6 x K0.5 where L denotes labor and K denotes capital. a. Does the production function exhibit increasing, decreasing or constant returns to scale Explai..
What distinguishes Socialism, Capitalism, Feudalism and Mercantilism? Note the general time line of the development of each
A recent study of 50 self-service gasoline stations in the Greater Cincinnati-Northern Kentucky metropolitan area revealed that the mean price of unleaded gas was $2.029 per gallon. The sample standard deviation was $0.03 per gallon.
In the derivation of the Solow growth model, we assumed that government spending and taxes less transfers were both zero. Relax that assumption and assume that both are constant graction of GDP, say T = G = gammaY. What is the steady state level o..
What did the Federal Reserve do during the financial crisis of 2008 and 2009 How did the recent financial crisis affect the financial services industry What are some of the major provisions of the Wall Street Reform and Consumer Protection Act
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