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Q. A particular firm began very small. They found that getting larger was painful - it involved a lot of new administrative infrastructure to get everything organized and all of this was quite expensive to get started. However, once the firm has gotten through these "growing pains" of expanding productivity, it found that it was able to expand further in a way that was very efficient, allowing increased specialization of the workers. Sketch the shape of the total cost curve for this firm.
Determine where each of following increases, decreases, or remains unchanged in short run: market interest rate, quantity of money demanded, investment spending, aggregate demand, potential output, price level and equilibrium real GDP.
Calculate firm 1's profit-maximizing output and profits in the absence of potential competition and calculate the output and profits of both firms in case firm 1 accommodates entry.
Explore the differences between economic model, economic theory, and economic policy. How would you explain this to a friend who has no clue what the differences are. Compare and contrast.
Compute the unemploymet rate and the labor forceparticipation rate,and compare thse raes wth those in the United States in 2009.
Compare and contrast the way Classical and Keynesian theory determine the Demand for Money and how it is related to the Money Supply
What is the difference between GDP and National income? How do both (GDP & National income) relate to economic growth? Explain.
Do vending machines conserve on any possessions other than labor. Does your answer offer any additional insight into the widespread utilize of vending machines in Japan.
U.S. exports and imports each affect domestic production because: A. imports are added to U.S. GDP and exports are subtracted B. exports and imports and added to U.S. GDP C. imports are substracted from U.S. GDP and exports are added. D. exports ..
Do you think that competition can be counted on to discipline the industrial business firms of a modern economy?
What are the tools available to the federal government to implement fiscal policy. If you had the ear of the U.S. president, what advice would you give for the direction of U.S. fiscal policy.
Illustrate what happens to aggregate output and the price level in each case.
A winery estimates that the demand for its fine Owner's Select, has an income elasticity of 2, where income refers to the income per capita of its customer base.
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