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Assume Ireland can produce 4 units of good X or 2 units of good Y. France can produce 3 units of good X or 9 units of good Y. What would be the terms of trade between Ireland and France for 1 unit of good X?
What is Supply and Demand? How do they differ?
Which of the following is the most valid expression of a theory of underconsumption as a cause of business cycles? a. capital goods production encroaches on consumer goods production b. income equals production, but not all income is used for current..
Suppose you are an advisor to President Obama. Illustrate what fiscal policies would you put in place.
A nation has a lower inflation rate than all other nations, It has more rapid economic growth.
Which of the following is/are an example of involuntary unemployment ? 1. a housewife 2. a student
Suppose that the economy starts at equilibrium and the mpc = 0.8. What would be the effect of a $300 increase in taxes once all the rounds of the multiplier process are complete?
Refer to the above data. If the product price is $60, at its optimal output, will the firm realize an economic profit, break even, or incur an economic loss? How much will the profit or loss be? Show all calculations. Refer to the above data. If t..
suppose a consumer has 150 to spend on food and clothing. food costs 4 per unit and clothing costs 5 per unit. the
Draw the daily budget constraint without any program participation for the single parent described above. On the same graph, draw the daily budget constraint under TANF for the single parent described above. At what level of money income does the ..
Assume that economy starts at equilibrium and the mpc = 0.75. Find the effect of a $300 increase in government spending once all the rounds of multiplier process are complete?
If surgeons really have the ability to increase the demand for operations, which kinds of operations will be most affected? Can you think of a way to determine which operations are unnecessary?
The demand for a product can change due to many factors. Distinguish between a chang in demand and change in quantity demand. What are the determiniants of demand? What are the determinants of suppy?
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