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What are two reasons why there may be a short-run trade-off between unexpected inflation and the unemployment rate.
How do each of the following sources of real business cycles would effect the economy:
- Farmers go on strike for six months.
- Oil prices fall sharply.
- Particularly favorable weather increases agricultural output
By paying a higher-than-market wage, a firm can avoid the problem of:
Discuss examples from economic theory that would be estimated using the methods of simultaneous equation models.
Suppose you win a lottery, and your after-tax gain is $40,000 per year until you retire. As a result, you decide to work part time at 32 hours per week in your old job instead of the usual 40 hours per week. Calculate the annual income effect on hour..
Which of the following is NOT true regarding top-down budgeting?
Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or L0.07 per litter), Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while B..
Explain why each stakeholder group identified in question 1 is in favour of, or opposed to, SunCal's plans to build condominiums in the resort district and identify possible solutions to this dispute that might emerge if SunCal was to work collabo..
For which of the following stock price indexes will a firm with a high market value carry more weight?
Paula has set aside $60 monthly budget to attend plays and watch movies. She likes plays exactly three time as much as she likes movies. Draw her indifference curves. If the price of movies decreases to 4 dollars how many movies will she see?
what is the short run equilibrium level of output in this economy.
Bob as well as Nancy live in a new housing development as well as they would like to have fire hydrants installed to assist the fire department in case of a fire.
What is the nominal GDP in 2011? What is the real GDP in 2011 (using 2010 prices)?
Consider a market with the inverse demand p(y)=7-y. Two firms operate in this market as Cournot competitors. Both firms have the cost function c(y)=y+F. If both firms are making nonnegative profits in the Cournot equilibrium, the fixed cost F must be..
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