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1. What is the consumption function and how is it related to the Marginal Propensity to Consume?
2. What is the multiplier?
3. What determines the position of the Long Run Aggregate Supply curve?
4. What is a supply shock? Give several examples.
5. What is stagflation? Why does it develop?
The table given below are the demand and supply schedules for television sets in Venezuela, a small country that is unable to affect world prices.
Explain the factors of production and give an example for each one and what is the difference between a normal good and an inferior good? How does this relate to the demand curve
Assume that the two firms behave as Cournot Duopolists. Explaining the concept of best response or Creaction function, determine the best response function for each firm. Calculate the profit maximizing output of each firm and the market price.
Microeconomics is considered to be the study of scarce resources. Here, customers must make allocation decisions. These 3-basic trade offs include which goods or services are to be manufactured,
Based on the Solow model, how would each of the following affect consumption per employee in the long run? Describe and illustrate your answer graphically.
The school of economic thought which argues that through tax reductions, and deregulation, government creates the proper incentives for the private sector to increase aggregate supply is known as the.
What will you put on sale in your district during the Valentine's Day week? You must provide your reasons and
Consider a company that uses two inputs. The quantity used of input one is denoted by x_1 and quantity used of input 2 is denoted by x_2.
Find two points on the curve that have a common tangent line. Bonus: Prove that there are only two such points. I have a midterm tomorrow and I cannot solve this. Can someone solve and explain how/why they did what they did?
Define depository institution, and discuss types of depository institutions are found in the U.S. and how do they act as intermediaries between savers and borrowers?
In your own words, describe the law of demand through the income and substitution effects, using a price increase as a point of departure for your discussion.
Suppose your supervisor has been asked many questions about how economy works and why the idea of limited resources is such a major concern in today's economy.
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