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1. Suppose the price of tea rises relative to the price of coffee? Can we conclude that inflation has occurred? Discuss and offer examples.
2. The nominal rate of interest is the same as the real rate of interest? If true, discuss? If false, discuss.
From one year to the next nominal GDP rises and the GDP deflator falls. Which of the following exclusions from GDP suggests that GDP is underestimating our material well-being? Full employment is typically associated with:
Regarding our nation's debt situation and the impact of entitlements like Social Security and Medicare.
There are two types of genetic drift. Describe and give an example of both the bottle neck effect and the founder effect.
According to both classics and Keynes, if, all else the same, the general price level increases by 5%, The demand for money will increase by 5%. Both the demand for and the supply of money will increase by 5%. In the real world, if the Fed keeps pump..
a) Give equations for and graph each firm's reaction curve.
How many units of each product should the company make to maximize profit? Use those results to find the maximum profit.
What is total surplus and why is it greatest at market equilibrium? Use another example to help. Explain the direct and indirect effects of price floors and price ceilings and why they are inefficient AND unfair. Why do we use percentages in the meas..
Why might demand for nurse labor by hospitals or other organized health providers be monopsonistic? Use economic models to explain your answer.
Assume that wages and prices are sticky and that we start at a long-run equilibrium. Assume that at this initial point, the growth rate of the money supply is 4%, the growth rate of the velocity of money is 3% and that the real economic growth rate i..
Discuss the role of advertising also the desired impact on the industry's demand curve. Contrast this to advertising at the industry level.
In what way does the official Bureau of Labor Statistics measure of unemployment understate the degree of unemployment in the economy?
What is emotional intelligence? Why is this important in the hospitality and tourism workplace? How can emotional intelligence be enhanced?
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