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Consider the graph below, and answer the following questions:
a) What is the current long-run equilibrium level of real GDP?
b) What is the current long-run equilibrium price level?
c) If the economy grows sufficiently at $2 trillion, real GDP remains forthcoming in the long run, and the aggregate demand remains unchanged, what will be the new long-run equilibrium price level?
Some people have suggested that forced population control is an efficient means of reducing the Tragedy of the Commons associated with our clean air and water resources. Provide an argument that would support this theory, and also an argument that..
Which aspects of the Great Depression are echoed in the ongoing economic crisis that began in 2008.what is different about the two periods.
Apart from the abundance of these resources, you also see a lot of poverty. Can you provide an economic explanation of why poverty exists
The annual growth rate for the population in the state of West Virginia is one of the nation's lowest at 0.30%. Why do you think other states, for example, Virginia, have nearly four times this growth rate
Give three reasons why firms produce in Germany rather than in a lower-wage country.
These specials comprises of a significant price reduction on selected menu items purchased before some pre-determined time
The Dade Corporation is borrowing $300,000 for one year and paying $27,000 in interest to Miami National Bank. The Bank Requires a 20% compensating balance.
Illustrate what is included in determining any of the measures of money supply. what happens to the equilibrium price level and output rate.
Your analyst tells you that he has estimated the following linear regression model of your company's long run technology:
Define in general the term "internalize the externality" and explain its application in this case. Discuss a policy other than a tax or subidy that could cause individuals to internalize the externality. Explain briefly.
What is the real mortgage interest rate in 2001, 2002, 2003 and 2004, what are the values in 2000 dollars of Nancy's monthly mortgage payments in 2001, 2002, 2003, and 2004?
Provide the cyclical nature of government tax revenues and spending, how would the resulting budget deficit or surplus vary over the business cycle.
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