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What are the similarities and differences in Keynesian and classical economic thought.
Describe how Keynesian and classical economists address the issue of unemployment.
Accurately describes new developments since the 1980s.
Elucidate at what price also quantity will marginal revenue be zero. At what price and quantity will marginal revenue be maximized.
Assume the consumer prefers to consume equal amounts of good 1 and good 2 whenever possible. Calculate the preferred amounts x1 and x2 as functions of prices and wealth.
(a) Write down the maximization problem for this individual. (b) Solve the maximization problem and nd current consumption, future consumption and savings (or assets).
(a) Calculate the total cost of the shares including commission. Give your answer in pounds. After 5 years, the shares are sold for 912 pence. (b) Calculate the income from the sale, before commission.
List the three reasons that the Bank of Canada does not target the money supply.
What is the opportunity cost of investing in human capital? Do you think a country can "overinvest" in human capital? What is the opportunity cost of attending college? Explain
As of 2011, 38 percent of black children under the age of 18 were living with both parents, while the corresponding figure for non-Hispanic white children was 77 percent. In addition, the existence of racial residential segregation results in blac..
Illustrate what are some of the traditional international trade theories that support the concept of globalization.
What is the equilibrium price and quantity? Suppose the government imposes a tax of $1 to reduce teaconsumption and raise government revenue. What will the newequilibrium quantity be? What price will the buyer pay? What amountper kilogram will the..
What is the difference between book value accounting and market value accounting? How do interest rate changes affect the value of bank assets and liabilities under the two methods? What is marking to market?
Suppose China exports TVs and uses the yeah as its currency, whereas Russia exports vodka and uses the ruble. China has a stable money supply and slow, steady technological progress in TV production, while Russia has very rapid growth in the money..
i) If u is 15%, what is the reservation wage as determined by the wage setting equation? ii) What is the real wage? iii) Suppose the mark-up increases to 10%. What happens to the naturalrate of unemployment for the same reservation wage? iv) Is the w..
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