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A: Discuss the 3 ranges of aggregate supply curve.
B: Explain the factors that shifts aggregate supply curve.
Research the government shutdown using legitimate news and political sources. Describe the effect the government shutdown had on federal services and federal spending. Discuss it in terms of the effect on government policy, the effect on the economy,..
In England in the early 19th century, skilled knitters began to worry about their jobs after the invention of machines that could produce textiles using unskilled workers. What would have been the expected impact on employment of skilled and unskille..
Firms A and B are the only firms in the market for widgets. Each firm can choose between cooperating and fighting. If both firms choose to cooperate, each gets a profit of 10. If both firms choose to fight, each gets a profit of 5. Suppose firms choo..
Read Chris Tilly, “Shaking the Invisible Hand” (Real World Micro, article 1.2). What is the “Invisible Hand” theory? What are the political implications? List some of the assumptions made by economists who believe in the “invisible hand” and oppose g..
Which of the following are benefits of international trade? Which ones are correct?
Suppose re are 300 of young in some period t. n, how many good are paid to government for tax in this period. In period t, how many good can each old person get and consume.
The cost to a cinema owner of letting someone see a movie for free is
What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy?
Illustrate what was the impact on the supply and demand of labor on one sector of the labor market. Explain the factors that affected labor demand and labor supply in the chosen historical example.
Consider an economy in which people wish to hold bank checking deposits worth a total of 5 million goods and currency worth 2 million goods in every period. In addition there is a stock of unintermediated capital worth 10 million goods. Find the reve..
A country has national saving of $80 billion, government expenditures of $40 billion, domestic investment of $60 billion, and net capital outflow of $20 billion. What is its demand for loanable funds?
When networks are important the “best” products usually win. Network goods are usually sold by monopolies or oligopolies. Standard wars are common in establishing network goods.
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