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What is economic freedom? How does economic freedom impact per capita income and living standards? Explain
In the middle of the Great Depression, President Herbert Hoover tried to balance the federal budget. This involved both rasing taxes and lowering government purchases. Using a Keynesian 45 model, Graphing and explain the effect of each of changes on ..
Calculate the capacity of each machine center and the capacity of the system.
Everything else held constant, decreased demand for a country's exports causes its currency to ________ in the long run, and increased demand for imports into the country causes its currency to ________.
In the country of Wiknam, the velocity of money is constant. Real GDP grows by 3 percent per year, the money stock grows by 8 percent per year, and the nominal interest rate is 9 percent. What is the growth rate of nominal GDP, the inflation rate, th..
Presently, AFC has on its medical staff 10 doctors and 10 nurses. The daily wage of a doctor is $600, whereas a nurse is paid only $200 a day. Is the mix of doctors and nurses the clinic is presently using optimal? Explain.
Illustrate what is the natural rate of unemployment for this economy. Assume the economy has been in equilibrium for a while also the inflation rate is 15%.
The Federal Reserve purchases $1 million in U.S. Treasury bonds from a bond dealer, and the dealer's bank credits the dealer's account. The reserve ratio is 15 percent. Assuming that no currency leakage occurs, how much will the bank lend to its cust..
The demand curve facing a monopoly firm is given by the equation P = 1000-5Q. The firm produces at a constant marginal and average cost equal to $100. Using this information, calculate: The profit maximizing quantity; the profit maximizing price; tot..
What are the roles of government in the market economy? Based the current economic conditions, to what extent should the government intervene in the market economy? What are the justifications given in favor of more government involvement in the mark..
indicate for each price whether the firm will produce, shut down, or be indifferent between the two in the short run, and whether it will make a profit, suffer a loss, or break even.
A monopolistically competitive firm sets its price equal to its MR, while keeping it above MC. We say that the long-run equilibrium of a monopolistically competitive firm reflects excess capacity because its MC is not equal to its ATC. In a duopoly w..
"Exotic" mortgages became popular in part because they allow someone of:
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