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(Aggregate Demand and Supply) Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case?
What combination of capital and labour should it use to produce and what would be the cost of production
Apply the rule of 70 to solve the following problem. Real GDP per person in Mexico in 2005 was about $12,000 per person, while it was about $48,000 per person in the United States
How much effort do the students exert in the Nash equilibrium of the game introduced by Amalia and what value for the cake induces the students to exert the efficient effort level
The government is considering undertaking one of the four projects A1, A2, A3, A4. These projects are mutually exclusive, and the estimated present values of their costs and of their benefits are shown in millions of dollars as follows.
A firm is making production plans for upcoming quarter, but the manager doesn't know what the price of the product will be next month. She thinks there is a 30 percent chance price will be $500 and a 70 percent chance price will be $750.
Based on the demand curve for asparagus above, what is the relationship between asparagus and good Z? What is the equation of the demand curve for asparagus if the price of good Z is $20?
Dsecribe a complete business cycle (trough, peak, expansion, recession), focusing on what happens to output, investment, employment in each phase.
Assume you are the owner of a small cafe that employs 15 people, 10 of whom are front-line, unskilled workers, and currently paid the minimum wage. The state government is considering increasing the minimum wage. As a business owner, would you su..
Explain what the Durbin-Watson statistic from regression indicates and Plot the residuals against time and comment on whether there is a seasonal pattern.
Discuss why a monopolist should lower its quantity relative to the perfectly competitive market to maximize profits. Make sure to elaborate employ examples.
The four kinds of market structures are Perfect Competition, Monopoly, Oligopoly, and Monoplistic Competition. Given dynamics of competition, think of the different sequential paths of market structures which firms can move by over time (any of th..
Determine whether a permanent increase in the size of the labor force and an improvement in technology, other things held constant, would lead to an increase, a decrease, or no change in long-run aggregate supply
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