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Sketch a Phillips Curve diagram.
a. Label a point "N" on your Phillips Curve to indicate the level of inflation and unemployment the economy would likely be experiencing given "Extremely rapid growth of exports." Why would this be? (Keep in ming expansion of export is affecting AD)
b. Label a point "O" on your Phillips Curve to indicate the level of inflation and unemployment the economy would likely be experiencing after the government has implemented a contractionary fiscal policy. Why would this be?
Assume that the Federal Reserve increases the money supply by purchasing government bonds in the secondary market.
State the essential difference between the classical and Keynesian schools of thought. If you were a public policymaker and received conflicting advice from a classical and a Keynesian economist, how would you choose Explain.
in some communities water is priced according to a two-tiered declining block method. according to this scheme an
What is the economic distinction between long run and short run?
Suppose that economy is in recessionand monetary authority decreases policy rate (interest rate) to return output to its potential level.
Global Corp. sells its output at the market price of $7 per unit. Each plant has the costs shown below:
What is the term for a table that shows the relationship between price of a good and quantity supplied?
Illustrate what is the point price elasticity for each person and for the market.
Drawing Conclusions Which type of unemployment do you think is the most troublesome for the U.S. economy? Why?
What is Scott's marginal rate of substitution of regulars for jumbos, ? How does this relate to the indifference curves you graphed in (a)?
Illustrate which tool is used most frequently. Illustrate what are two limitations on the money expansion process.
Make a presentation for Board which examines the current state of the United States economy. Use the Library to discover the up to date information required.
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