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Using the Aggregate Demand and Aggregate Supply model, will someone graphically show how you think short run equilibrium of the economy would have looked like in May of 2020 (Covid)? Make sure to include Long Run Aggregate Supply in the model.
John's utility function is U(X,Y) = min{3X,4Y}. His income is denoted by I and the prices by PXand PY.a) Find the Marshalian(uncompensated) demands for X and Y.b) Find the income elasticity of demand for X and Y.
What are some reasons that business outputs vary? For example why does production output vary? Explain the difference between common causes of variation and special causes of variation.
Why a country may want to manipulate the value of it's currency? What is a managed float currency and fully floating currency? What is exchange rates?
Using data sources from business publications and the Internet, discuss significant trends in both demand and supply in the copper industry that have influenced the price of copper since September 2011. What are the implications of these trends fo..
an excise tax may be imposed on a commodity in order to raise revenue for the government or in order to reduce the
Thelma and Louise are neighbors. During the winter, it is impossible for a snowplow to clear street in front of Thelmas house without clearing the front of Louises.
Economic theory assumes that people act rationally and maximize their total satisfaction. Explain this proposition and discuss whether people who spend 30 days.
The great English economist Lionel Robbins defined economics as "Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses."
Discuss the five main types of regional trade agreements. What are their primary characteristics? How does Mexico's GDP per person compare to that of the Parted States? Discuss the different approaches economists can use to make this calculation.
Why is another depression like the Great Depression of the 1930s not likely to occur?
Suppose the Fed responds quickly to these shocks and adjusts monetary policy to keep unemployment and output at their natural rates. What action would it take?
A coal mining company has a supply curve of W=48 + (72/2000)L and Demand of P= 60- (9/4000)Q. coal miners produce 8 tons of coal a day. they max profit.
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