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How would a favourable positive supply shock change the short run trade off between inflation and unemployment? Illustrate your answer using both the Ad-as model and the Phillips curve diagram. What will happen to prices and output as a result of this shock
Opportunity cost is a key concept in Economics. The textbook defines the opportunity cost as the best alternative that must be given up to obtain some item. Suppose you are a music fan. Lucky enough, you won a free ticket to see a local rock-band con..
In a few sentences, describe some of the issues that you found interesting. Discuss how you learned to deal with these issues in your labs
During the summer of 2011, General Motors (GM) had trouble selling pickup trucks. According to an article in USA Today : General Motors dealers had a 122-day supply of Chevrolet Silverado and GMC Sierra pickups in June, more than 50% above what’s con..
How does a government budget surplus affect the U.S. economy? Identify two periods in recent history in which the United States has run budget surpluses. What were the reasons for the surpluses during those time periods?
Unemployment occurs even during periods when the economy is growing. An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus. An increase in wages will shift the supply curve up and to the left. GDP measures under..
Provide an example of a good and a negative externality associated with it. Explain the possible ways that negative externalities can be controlled. Describe what happens in the market if a tax is imposed on the output of the good (not the externalit..
CIS013-6 Develop an appropriate set of business objectives that incorporate the new online ordering system and outline the overall direction of the business over the next five years
What unique competitive advantage does the xerox corporation exhibit? and do you consider this to be sustainable competitive advantage?
The perspective of the study: Consider cost of obesity/eating disorder to theindividual with illness or to the society as a whole
What factors are considered in calculation of the CPI? Explain your answer. Where would you find data on CPI and PPI for the United States?
Paula has set aside $60 monthly budget to attend plays and watch movies. She likes plays exactly three time as much as she likes movies. (Plays and movies are perfect substitutes with 1 to 3 ratio.) Draw her indifference curves. If plays tickets cost..
1. Provide an example of correlation between 'marginal cost' and 'average cost."
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