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The main ideas of Keynesian economics are:
a-the importance of the long run over the short run, and an emphasis on a vertical SRAS curve.
b-the importance of the long run over the short run, and an equal emphasis on the AD curve and the SRAS curve.
c-the importance of the short run over the long run, and an emphasis on the AD curve and a rising SRAS curve.
d-the importance of the free market with no government intervention, and an emphasis on monetary policy in the long run.
Write a 2 page essay describing what life was like in the Great Depression 1929-1941 with a focus on the important events and data which characterized economic conditions of that time period. Cite at least 4 outside sources of supporting information/..
The United States currently has an “opt-in” system for organ donations from the deceased. People must explicitly choose postmortem donation ahead of time (as when they obtain their driver’s license). Many other nations have “opt-out” systems:
Elucidate the likely impact of this event on the market for gasoline and the market for small cars.
identify the circumstances under which Sarah should choose package A, the circumstances under which she should choose package B.
In the spring of 2002, lettuce price doubled from about $1.5 to $3 per head. The reaction of one consumer was quoted in newspaper article; "I will not buy lettuce when it is a $3 a head" she said, adding that other green vegetable can fill in for let..
explain what occurs when a new technology makes another one obsolete in terms of economic profit. consider firm a to be
Broadband technology refers to ___________.
An industry consists of a dominant firm with costs C(Qd)=2Qd and 4 identical fringe firms, each with costs c(q)=1+q^2. Market demand is Q=24-p. Derive the residual demand for the dominant firm. Sketch the demand, supply of the fringe, and the rsidual..
After reviewing efforts to reduce the Deficit, discuss the actions in use by Congress since 1985 to reduce the budget deficits.
Assume that an individual’s preferences is represented by the following utility function: U(X,Y) = (X^α)(Y)
Discuss the theoretical and empirical issues surrounding the supplier-induced demand theory.
Detail the fundamental reasons for financial regulation as discussed in class and in the text. As part of this discussion, provide an analysis of the potential conflicts between a policy of promoting competition and a policy of reducing the chance of..
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