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Question 1: Suppose a government has a tax revenue shortfall. Will hyperinflation inevitably follow unless the government cuts its fiscal expenditures?
Question 2: Assume that the production function is given by Y = AK L , where Y is GDP, K is capital stock, and L is labor. The parameter A is equal to 10. Assume also that capital is 100, labor is 400, and both capital and labor are paid for their marginal products.
a. What is Y?b. What is the real wage of labor?c. What is the real rental price of capital (the amount of output paid per unit of capital)?
Assuming Jack's preferences over beer and whisky did not change, was his behaviour consistent with those of a rational consumer model? Draw the two budget constraints and explain your answer.
What argument does King make for being in Birmingham? What kind of "direct action" does King advocate? What is the difference in "just" and "unjust laws"?
How does total welfare in Argentina change compared with autarky? Are Argentine cattle ranchers better or worse off? What about Argentine consumers?
explain the concept of a stable economic equilibrium and provide your assessment of whether or not the US economy, the Australian economy
changes in government spending and interest rates. government spending is given by the equationsrecall that current
Suppose the Economy has the following relationships in the Goods Market?
Elucidate how the enterprise zones could be utilized to enhance the economic development implications of your policy issue.
What are the definitions of rape and sexual assault? Research rape and sexual assault laws and the mandatory arrest policies of your state.
How would each of these events affect the supply or demand for Japanese yen?
Assume the federal government runs huge budget deficits today to finance, say, Social Security, Medicare, and other programs for the elderly, and finances.
What should the company do to proactively manage the risks identified? What management structures are in place to ensure the risks are effectively managed.
Identify whether each of the following reflects seasonal, structural, frictional, or cyclical unemployment. a. A sales employee is laid off due to slow business after consumer spending falls. b. An automotive worker is replaced by robotic equipment o..
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