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Assume that there is concern that the economy is not recovering from the current recession due to a high unemployment rate. Consequently, the President and Congress are considering the passage of another stimulus package for $200 billion. This package will be targeted towards decreasing unemployment and maintaining the current level of low inflation. How would you structure such a stimulus package? What would a classical economist's approach to this problem be, and how would it differ from a Keynesian's approach? Explain your answer and justify your conclusions.
Using the aggregate supply and demand model, analyze the effect of a more restrictive immigration policy in the U.S. on the following:• The real wage rate • The level of unemployment • The rate of inflation • Economic growth
Discuss the pros and cons of such a policy from a short-run versus a long-run perspective. Also, include a discussion of the Phillips curve in your analysis.
Draw a budget constraint and an indifference curve for an individual who works in period one and is retired (earns no income) in period two. He consumes some of his income in period 1 and saves the rest of his income for period 2.
What would each of the following events do to the terms of trade of the importing country and the exporting country, other things being equal?
The expected returns earned from investment in the stock of two companies, Company A and Company B, are shown in the following table. Use the table to complete parts (a) through (e) below.
suppose the poorest 90 percent of citizens actually have an income of $15,000 because each receives $5,000 of unreported income from the underground economy. what is the Gini coefficient now?
Which were the main causes of the Great Depression and why did the Great Depression last so long?
Neilsen Media Research wishes to pretest a questionnaire to be mailed to many thousand spectators. One question involves the ranking of male and female college students
The major changes that have forced differences are changes in the place of women in society as more equal in terms of jobs and working, more out of wedlock births creating more single families, less stigma by society on men who do not participate ..
What is the first order condition for profit maximization for firm 1? compute the optimum quantity x1 for firm 1 as function of quantities x2 and x3.
With use of a graph, explain how these two programs affect cigarette consumption and explain the combined effect of these two programs on the price of cigarettes.
Forecasting collect data using techniques of estimating demand functions in an attempt to forecast sales and prices.
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
What is the maximum amount of harvest that can be sustainably achieved in this system? What level of biomass generates this amount of harvest?
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