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Suppose initially a closed economy is in a slight recession.
On the Keynesian cross graph in (AE - Y) space and the correctly labeled aggregate demand and aggregate supply graph in the (P - Y) space show the equilibrium price level, the current level of output, and the full employment level of output. Label the initial equilibrium with letter A.
Calculate the rate of increase in the real GDP and one more question?
Is there a parallel among diminishing marginal utility in consumption and diminishing returns in productio.
Compute and plot short -run average and marginal cost functions. Find the capital demand K and labor demand L of the firm in the long-run.
A heat reservoir at 0°C and a reversible work source are available. What is the maximum amount of work that can be transferred to the reversible work source as the system is cooled from 100°C to the temperature of the reservoir?
Why can the distinction between fixed costs and variable costs be made in the short run? Classify the following as fixed or variable costs: advertising expenditures, fuel,
Difference between average total costs and average variable costs and the avenge fixed cost of producing 10 units of output
What are the problems that government may encounter in enacting and applying fiscal policy?
One-tenth of the participants produce over one-third of the output. increasing the number of participants merely reduces the average output." if this statement were true, would it be consistent with the law of diminishing returns?
john operates a small business out of his home and has very little in terms of fixed costs. answer the next questions
Use these data to estimate the price elasticity of demand for subway rides.
What ratio of capital to labour minimizes total costs? How much labour and capital will need to be employed to produce 2,000 reams a week?
Study of the impact of FDI on GDP growth rate of US keeping effect of interest rate, final consumption expenditure, and exports of goods and services constant.
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