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A number macroeconomic variables decline during recessions. One of these variables is the GDP.
a) What other variables, besides real GDP, tend to decline during recessions? Given the definition of real GDP and its components, explain the declines in these economic variables which are to be expected.
b) Empirical studies indicate that the long-run trend in real GDP of the USA has an upward trend. How is this possible given business cycles and macroeconomic fluctuations? What factors explain the upward trend in spite of the cycles?
Which of the following is/are NOT (a) characteristic(s) of the Bismarck model?
What is the particular form of money (M1,M2, etc.) that would be the smallest measure that includes the type of money described in the article. (For example, if the article is about cash, write "M1."
What is the cost to Lavaland of moving from point E to point F. Illustrate what general economic principle is being illustrated.
How vegetarians sometimes have trouble making sure they get enough protein in their diets.
Elucidate the meaning of value added and its importance in the income approach. Consider the following data for the selling price at each stage in the production of a five-pound bag of flour sold by your local grocer. Calculate the final market va..
Should the United States pass a minimum wage that assures all workers earn a wage above the poverty level? Defend your position using economic principles. I need a YES answer using economic principles to defend your answer?
You and other college students are deciding whether to major in music or engineering. You learn that there is a shortage of engineers making it easy for engineering graduates to find employment while there is a glut of musicians for whom finding a jo..
Decrease will have on the desired proportions of capital and labor used in producing the given level of output at minimum total cost.
Suppose the market price of tuna is $3.50/pound. Explain how many fisherman should the company use if the daily wage rate is $100.
Suppose that there are two products: soda along with clothing. Both Brazil and the United States produce each product.
What issues might Mr. Smith face in deciding to go with this concept as he builds his business?
they have the same demand curve for computer services. Use a graph to illustrate the overall value of computing services to the consumer. What does this imply about the profit maximizing price HAL can charge for the computer hardware.
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