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Show diagrammatically and algebraically cases of unitary elasticity with examples pertaining to products and services. what is the relationship between the slope and the concept of elasticity?
When Calvin Coolidge was vice president and giving a speech about government finances, he said that: “inflation is repudiation.’’ What might he have meant by this? Do you agree? Why or why not? Does it matter whether the inflation is expected or unex..
Suppose the Fed reduces the money supply by 5 percent. (a) What happens to the aggregate demand curve? (b) What happens to the level of output and the price level in the short run and in the long run?
In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the previous iPhone model. How did the introduction of the iPhone 4S affect the Consumer Price Index? What fact..
Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run.
Currently the U.S. national debt is over $17 Trillion. Many people feel the high level of the national debt is a very bad thing and it should be paid off. a. List and explain 3 advantages and 3 disadvantages of eliminating the national debt?
Draw a graph with arcade games on the horizontal axis also newspapers on the vertical axis. Joe has $10 every week to allocate between these commodities.
Atrium, a manufacturer of upscale designer tee-shirts, is considering launching an Internet operation to sell its product direct to consumers in addition to distributing through traditional bricks-and-mortar retail stores. If Atrium can sell 10,000 t..
Sherolyn Davidson was terminated after 25 years at ACME University. She filed an age discrimination case. What types of damages are possible for age discrimination
Assuming no other changes, if balances in money market deposit accounts increase by $50 billion and small-denominated time deposits decrease by $50 billion.
Consider two fictional economies, one called the domestic country and the other called the foreign country. Given the transactions listed below, construct a balance of payments account for each county. Include a statistical discrepancy.
The price of a good will be driven to a lower price when there is:
Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce? What will be the deadweight loss created by this monopoly?
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