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5. (Changes in Aggregate Supply) List three factors that can change the economy's potential output. What is the impact of shifts of the aggregate demand curve on potential output? Illustrate your answer with a diagram. a. Supply of resources in the economy b. Level of technology c. Production incentives provided by the formal and informal institutions of the economic system.
To try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services that exceeded the maximum fe..
the world bank is currently advising newly industrailzed countries on how to encourage growth and they have asked for
Write a two-page essay in which you address the issues outlined above. Format your essay in a Word document using Times New Roman 12-point, one-inch margins and double spacing.
Some fields have large enough quantities of both oil and natural gas that coordination must be achieved for the production of both, rather than oil a in our examples. Will fields with both oil and gas have greater difficulties in unitization than ..
the size of the governments debt and the size of the budget deficit indicate potential problems for the economy.
The economy is initially in long-run equilibrium. The AD curve shifts to the right and the price level rises. Assuming that the economy is self-regulating, the SRAS curve will shift to the left and the price level will rise even further.
Suppose that the market for coffee is initially in equilibrium. Suppose that a technological improvement lowers the cost of producing coffee. At the same time, consumers' preferences for coffee increase
will there be an inflationary or expenditure gap or a recessionary expenditure gap if the full employment level of
Compute point price elasticity of demand for this product.
Determine the three tools the Federal Reserve uses to change the money supply and interest rates in the economy? Which of these tools is most important and explain your answer.
Illustrate what will be the percent change in hotdog sales if the price of hamburgers goes up by 10%.
Assume you are a business person with an opportunity to make more money by meeting with competitors and fixing prices, conduct which is illegal. The authorities will not discover that the prices have been fixed. In fact, the price rise could be sm..
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