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3.Evaluate whether each of the following statements is true or false. Explain your answer and provide supporting rationale. a.The short-run aggregate supply (SAS) curve slopes upward because households spend more as their incomes increase. b.The long-run aggregate supply curve can never shift. c.Either a decrease in the nominal money supply by the Federal Reserve, all else held constant, or an increase in the price level, all else held constant, will shift the aggregate demand (AD) curve to the left. d.The Keynesian portion of the short-run aggregate supply (SAS) curve would be relevant during a recessionary situation. e.Stagflation occurs when the aggregate demand (AD) curve shifts out on the upward sloping portion of the short-run aggregate supply (SAS) curve.
pollution is considered baby most negative externality. some ecinomists would like to see the vista of these burdens
Suppose the consumption expenditure is C = $100 billion + 0.9*Y. Investment (I) is $100 billion, government spending (G) is $50 billion and exports (X) are $100 billion. Imports depend on the level of income as follows: M = 0.1*Y.
1.why cant all the balance of payments accounts be in surplus? what factors determine the demand for british pounds in
How could we argue that these markets are notcompetitive and could each firm face a demand curve that is not perfectly elastic?
In which type of handling system is labor cost generally the highest percentage? mechanized semiautomated automated information-directed
Cesar earns $60/week while attending UIC and consumes two goods: Beer (B) and Food (F). Beer costs $1/can and Food costs $3/lb. Cesar has the utility function U(B,F) = 2BF (with B in cans, F in lbs). This means his marginal utility from consuming bee..
The minimum price at which a few of the producers are willing to sell a pound of cheese is $0.06, and the price floor is set at $0.17 per pound. With the price floor at $0.17 per pound of cheese, producers sell 212.5 billion pounds of cheese (some to..
In recent years, scores in baseball have constantly increased. Most experts believe that this is due to expansion of new teams into the league.
part-1suppose that the firm uses three inputs to produce its output capital k labor l and materials m.nbsp the firms
1. consider two countries vietnam and china producing two goods textiles and televisions. suppose that textile is
What percentage of your monthly spending do you pay with (a) cash, (b) check, (c) credit card, or (d) automatic transfers? How do you pay off the credit card balance? How does your use of cash compare with the composition of the money supply (refer t..
an estimate of the demand function for household furniture produced the following resultf0.0036y1.08r0.16p-0.48
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