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Question: A productivity boom: Suppose the economy exhibits a large, unexpected increase in productivity growth that lasts for a decade. Policymakers are (quite reasonably) slow to learn what has happened to potential output and incorrectly interpret the increase in output as a boom that leads actual output to exceed potential. Suppose they adjust macroeconomic policy so that the mismeasured level of short-run output is zero.
(a) What happens to the true amount of short-run output Y ?
(b) What happens to inflation over time?
(c) This problem outlines a concern economists have had in recent years after the large increase in productivity growth that started around 1995. Now consider the opposite problem: suppose productivity growth declines for a decade. What would be predicted to happen? Has this ever happened to the U.S. economy?
Provide a 2000 word written paper choosing ONE of the three topic choices given below: (1) Compare two examples of intermodal container and freight technology. (2) Discuss how new container tracking devices will improve international intermodal trans..
Labor and other operating costs are es- timated to be $35,000 per year over the study pe- riod of 5 years. Salvage is estimated at 10% of first cost and i = 12% per year. Neglect the element of availability (a) to determine the breakeven quantity,..
Identify any specific parallels between Shinto beliefs and practices on the one hand, and those of indigenous sacred ways on the other? By contrast, which (if any) elements of Shinto might seem uniquely or solely "Shinto-istic" in character, not f..
Describe and discuss why characteristics of the labor markets should result in the similar wage rate for all jobs requiring the similar level of abilities and skills?
Choose any firm and think about its buying and selling activities -everyone buys and sells, or at least "procures" and "supplies", or otherwise participates in exchange transactions.
Suppose that the economy is already in recession, and both President and Congress have declared to do something to restore the economy.
Assuming no legal restrictions on price, use supply and demand analysis to show the expected effect of the flood on the price of bottle water.
A household splits its $4,000 monthly income between necessity and luxury goods. The average price of necessities is $30 per unit and that of luxuries is $100 per unit. Write the household budget constraint.
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
1. Explain, using managerial economics, why sports economists believe ticket prices are too LOW. No more than 75 words, please. You can do an excellent job with 40 - 50 words if you are concise.
In the 1970s Congress imposed an "excess profits tax" on these companies. It did not do so this time? What does this change show about how our understanding of the way the price system works to allocate resources has evolved? If "excess profits" a..
suppose you are a painter and the price of a gallon of paint increases from 3.00 a gallon to 3.50 a gallon. your usage
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