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During Dec. 2007 and Dec. 2008, measured RGDP in economy fell by 1 percent as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 3.7 percent and the unemployment rate rose sharply from 4.6 percent to 7.2 percent
What can you infer from this data about the rate of labor productivity growth in the US economy during this period?
Illustrate what is the biggest economic concern for Argentina, like unemployment or population.
Describe some theories or explanations of why the crime rate fell in the 1990. Murders are now on the rise again.
Assume that the federal reserve wishes to keep nominal interest rate at a target level of 5 percent. Draw a money supply and demand diagram in which the current equilibrium interest rate is 5%.
Discuss the differences between behavioral and equilibrium relationships and explain the basic Idea behind the Solow model and its relationship with technological advance. What will add to capital stock and detract from it.
Suppose the banking system is in reserve equilibrium. The Fed conducts an open market purchase of Treasury securities in the amount of $1 billion.
Illustrate what happens to the natural rate of unemployment and potential GDP if cyclical unemployment.
explain how the changes in the equilibrium price also quantity.
Imagine the opera has a capacity of 3000 seats and that all costs are fixed. If they can discriminate between the two groups, what is optimal price to charge to each group and how many tickets will each group buy?
Suppose Congress wishes to reduce the budget deficit by reducing government spending. Use the IS-LM model to illustrate graphically.
A study sponsored by the American Medical Association suggests that the absolute value of the own price elasticity for surgical procedures is smaller than that for the own price elasticity for office visits. Explain why this would be expected
Explain how would this affect the elasticity of demand for gasoline
Assume a nation has been running a significant expansionary fiscal policy for many years.
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