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An increase in nominal GDP accompanied by a decrease in real GDP: A. is impossible. B. implies that the price level in the economy fell. C. implies that the price level in the economy rose. D. implies that the price level in the economy remained the same.
What does the economy look like when the economy is in an unemployment gap? What type of unemployment rate is it compared to the Natural Rate of unemployment? What about inflation?
What actions have been taken by the government to deal with the ups and downs of the business cycle in the United States? Please look back in history to round out your answer.
Suppose that your parents are deciding where to hide your (insert non-offensive, not religiously affiliated holiday here) presents while you’re trying to decide where to look for them. The payoff to your parents from successfully hiding your presents..
What is per unit cost of producing 60 units of output. ATC(60)=$10 What is per unit labour cost of producing 60 units of output. AVC(60)=$6.67 What is per unit fixed cost of producing 60 units of output.
Consider the market for electronics. Patents are granted to investors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy, without the existence of patents; it is argued that research a..
Which of the following pricing policies compensate customers if the firm fails to provide the best price in the market?
Smith suggests that division of labor leads to increased production through three different avenues. Explain. “It is the great multiplication of the production of all the different arts in consequence of the division of labour, which occasions in a w..
Assume the market for cough syrup is in equilibrium. Now, suppose the government imposes a price ceiling that is above the original equilibrium price. Illustrate what are the economic effects of the price ceiling?
What market structure is used to benchmark allocative efficiency and why do we use it?Illustrate and explain using a diagram.Why and how do monopolistically competitive firms fail to achieve allocative efficiency? Illustrate and explain using a diagr..
Identify a PLC company that uses strategic management - this company may be prosperous, booming, in decline, or in economic difficulties.
The government finds that a lot of employers are prejudiced, and discriminate against foreign workers. The secretary of labor offers the President three options to deal with this problem: Arrest all employers who are hiring foreign workers at less th..
Assume that student marks are normally distributed. A random sample of 25 students' marks yield a sample mean of 70 and a sample standard deviation of 10. Estimate the population mean of marks with 95% confidence.
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