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Suppose that members of Congress successfully eliminated the Commerce Department, and in so doing the federal government no longer collected or distributed economic data (including inflation data). What impact would this have on the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve?
A) the SRAS curve would become steeper and the LRAS curve would remain unchanged
B) neither curve would be affected
C) The SRAS curve would shift to the right and the LRAS curve would shift to the right
D) the SRAS curve would become flatter and the LRAS curve would remain unchanged
Discuss the concept of “jurisdiction” discussed in the text on pages 83-92, including its application in the Federal Court System and the various State Court Systems.
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The main purpose of studying a market is to be able to predict qualitatively and quantitatively changes in prices resulting from changes in demand and supply conditions. For each of the following events, assume that either the supply curve or the dem..
Toyota bonds are currently rated AA, and Ford bonds are rated BB, Suppose the price of 1,000 one year Toyota bond is 970$. What is the rate of return on the one year Toyota bond
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Can you tell me illustrate what does the quote print allows you to hold another's mind in your hands by James burke
If import spending were the ONLY leakage from an economy and the marginal propensity to import is one-third, what fraction of any change in income will survive the leakage and go on to start the next round of spending?
Economic growth will occur in each of the following cases except through. Graphically, economic growth can be represented by a
The unemployment rate in an economy is 6%. The total population of the economy is 290 million, and the size of the civilian labor force in 150 million. Illustrate the number of unemployed workers in this economy.
If the actual price level exceeds the expected price level reflected in long-term contracts, real GDP equals __________ and the actual price levels equals _________ in the short run. List three factors that can change the economy’s potential output. ..
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