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In the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting inflation. The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD model.
Compute the 10-year growth rate forecast using the constant growth model with annual compounding, and the constant growth model with continuous compounding for each occupation.
Compute the path of the economy, that is , calculate real GDP, the price level, the inflation rate and real money stock for each year until GDP I swithin 1% of the potential. (limit calculated values to 10 decimals points)
Oligopolists have little incentive to introduce expensively new technology and produce new products when they currently are earning large economic profit using existing technology and selling existing products.
the size of the governments debt and the size of the budget deficit indicate potential problems for the economy.
Assume that there are only two inputs (labor and natural resources) producing two goods (movies and gasoline) with no improvement in society's technology over time. Further, assume that natural resources are being rapidly depleted.
A firm with a kinked demand curve experiences an increase fixed costs. explain how the firm's price, output and profit change.
Assume after 10 years real consumer spending doubles to 100. Explain how much do you believe will be the budget share of leisure.
the table shows the demand schedule for two consumers of lemonade, Eli and Molly. Assume that these are the only two consumers in the market. Use the multi-point line tool to plot the market demand curve for lemonade.
In your discussion, comprise the reason for the lawsuit, the outcome of the trial and how this lawsuit affected Microsoft and consumers.
Assuming that there is a dominant firm, whose marginal cost is constant at $6. Derive the residual demand curve that it faces. Calculate its profit-maximizing output and price and show just the Output number and Price per unit.
Price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive because price minus cost equals marginal revenue. and marginal cost are the same in pure competition. is the same as average revenue.
The payoff matrix for FORM and GM, each of which is determining whether to offer a technical change or a styling change in a new-model product, is as follows (where H>M>L profits, subscript GM refers to GM, subscript F refers to FORD)
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