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1. Explain and draw a graph to illustrate how a rise in consumer confidence can change real GDP and the price level in the short run.
2. Explain how the economy can adjust in the long run to restore full-employment equilibrium. Draw a graph to illustrate this adjustment process.
Explain whether each of the following events shifts the short0run aggregate supply curve, the aggregate demand curve, both, or neither. for each event that does shift a curve draw a diagram to illustrate the effect on the economy
Describe macroeconomic issues such as the Business Cycle. Economic Growth or the GDP Inflation. The article must be recent, in other words, dated within the beginning of the semester.
A large rear dump truck working in a coal mining operation under good conditions has a present purchase price, compute the estimated repair cost per operating hour.
1. under what conditions does a nominal tariff applied to an import product overstate or understate the actual or
Based on the newspaper government spending in the US is expected to rise through $30 billion next year. One of the senators of your state is touting how this increase in spending will lead to an rise in employment and aggregate output.
Describe the economic situations when your position can be successfully implemented and when it may be doomed to failure.
Hinduism, Confucianism and Buddhism are three of the world’s great belief systems. Compare and contrast their impact on the societies that embraced them.
Suppose you earn $1 million over your working life and the real interest rate for retirement saving is 50%. How much will you save and how much will you consume in each part of your life?
Give one example of a price floor and one example of a price ceiling.State the purpose of these legal prices and assess their impacts on the market.
A farm has 600 acres, andyou can plant either corn or soybeans (or both). An acre of corn gives $150 and anacre of soybeans gives $80. There are 2000 hours oflabor available; an acre of cornuses 4 hours and an acre of soybeans uses 2 hours. Formulate..
What are the implications of the automatic stabilizer created by government taxes and spending on the effects of shocks in long-run aggregate supply?.
Illustrate what firm dominates the beer industry. What demand and supply factors have contributed to fewness in the industry.
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