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The price of a wideget increases by 90%. What effect would we expect this to have on the equilibrium wage rate of workers who make widgets? Would this increase, decrease, or keep the wage rate the same?
Cindy gains utility from consumption and leisure. The most leisure she can consume in a week is 168 hours.
Give a full explanation for your answers, and using a country of your choice for illustration, describe which firms are likely to gain and which firms are likely to lose from:
make comparision between the situation after both of these changes have happened with the situation before any of these changes have happened.
The perticular information needed to calculate each metric should be discussed. For each metric discuss the appropriate target value and the actions that need to be taken to achieve the target.
An increase in the aggregate demand for goods and services will result in an increase in the amount of output firms are willing to produce, and this increase in output will be accompanied by: a. a decrease in the inflation rate.The long-run aggrega..
Define Q to be level of output produced and sold, and suppose that the firm's cost function is given by the relationship;
Discuss the impact on wages, employment in the industry, and the economic welfare of the following input market structures. In which case will the deadweight loss be the smallest?
Suppose Firm Y's production function is given by the following Cobb Douglas equation
A manufacture is planning outsourcing their product to China, where the costs to produce the product are considerably cheaper. You have been brought in as a consultant to discuss economic considerations of such a move.
What did the central banks do to stabilize the financial systems in 2007-2009 and Describe when and why central banks buy either their own currency or the currency of another nation in an effort to control exchange rates.
Use a production possibility frontier to illustrate the probable results of your fiscal policy. By how much did consumption change? By how much did savings change?
Determine the inflation rate for the next 12 months, base their calculations solely on the current inflation rate and is it a closed or open economy? What budget des the government run?
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