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Keynesian economics and neoclassical economics have been challenging, attacking and refuting one another ever since his General Theory from 1936.
(a) outlines the basic dispute between them and
(b) explains why so old and often repeated debate continues to be a major concern of the mainstream economics profession.
Suppose the two states decide that they want to produce 590 units of wheat together (not 590 units of wheat each). What is the maximum amount of cotton that they could produce?
An article in the Chinese economy in 2012 notes that business inventories had been increasing. As a result, the author argued: "China's growth rate will not be as robust as it has been over the last few years, as the economy needs to work off this ex..
Consider a consumer with the following preferences and budget constraint: graph the budget constraint and some of the consumer's indifference curves on a graph. Be sure to cleary label the axes, slopes and intercepts.
Maria’s utility for yoga classes (y) and spin classes (x) are as follows: Maria lives in Clarksville, Austin where things are expensive: yoga classes cost $10 and a spinclasses cost $14 each. Her monthly budget to spend on yoga and spin classes are $..
Demonstrate that inflation is always a monetary phenomenon in the long-run, and explain why it might not always be a monetary phenomenon in the short-run.
Assume that you plan to retire 40 years from now and that you expect to need $2M to support the lifestyle that you want.
What are some of the limits to using GDP per capita in a country as a measure of a typical (or median) individual’s welfare or living standard? What are some suggested alternatives and what are the strengths and weaknesses of these?
Lets say i was running a company like Microsoft or a car company like Toyota, what would cause shifts in product supply and demand
Capital outflows occur if: In the foreign exchange market, foreign residents wishing to purchase U.S. exports or U.S. real and financial assets must:
For a firm to be economically efficient from society's point of view, it should produce at the point at which:
If he continued to work exactly as many hours as he did before the wage increase, how much more money would he have each day to spend on consumption?
Suppose the government imposes a small carbon tax on automakers. But the price of gasoline has doubled due to a Middle East crisis which has reduced oil production. In the market for autos, these changes mean that supply and demand have both changed ..
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