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What are the four phases of the business cycle?
How long do business cycles last?
Why does the business cycle affect output and employment in capital goods industries and consumer durable goods industries more severely than in industries producing consumer nondurables?
Why is it difficult to distinguish between frictional, structural, and cyclical unemployment?
Why is unemployment an economic problem?
What are the consequences of a negative GDP gap?
What are the noneconomic effects of unemployment?
What does this mean for your company? What is the cross-price elasticity for your product? What type of goods are Good A and Good B?
If workers do not have the skills that are required in the job market, which of the following will occur? When the economy is below full employment, it is producing. How has the unemployment components of the natural rate of unemployment changed over..
A bond is bought at par and market yields rise after purchase. If the bond is held to maturity, the rate of return at maturity will be _____ the yield at purchase.
Consider this statement. “It is estimated that leaky pipes and dripping faucets are the source of hundreds of thousands of dollars of lost water each year. Business firms could reduce waste by inspecting more pipes thoroughly and repairing water leak..
Assume that foreign inflation is 3 percent and domestic is 2 percent. How much higher/lower than the surrounding world’s nominal rate must the central bank mark their domestic nominal interest rate so that the real exchange rate will be unaffected?
What are the roles of money? Explain in your own words what each of these roles mean. Which of the roles do the following items satisfy? a. A credit card b. A painting by Rembrandt c. A subway token
If government’s expenditure (G) is greater than its tax revenues (Tx) government is said to be running a __________. If there is not change in money supply by monetary policy then this can be remedied by_______________
How does the standard product of labor change when the industry utilizes 81 units of labor.
A monopolist faces a demand curve given by P=105-3Q P is price, Q is quantity demanded. Marginal cost of production is $15.00. No fixed costs. Explaim how much output in order to maximize profit.
q1. total fixed cost or sunk cost is independent of quantity produced.assume a small firm has invested 10 million in
For the last several years, the money supply in the fictitious nation of Mauritania has been rising by 10% annually, and inflation has been running at 8%. The central bank is going to cut growth of the money supply back to 3% annually. Which of the f..
Flood damage in the Brush Creek area averages $7,000 annually. Civil engineers with floodplain expertise have designed a series of small dams to restrain the flow. They will cost $25,000 and will involve annual maintenance charges of $500. What is th..
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