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What was the percentage change in Nominal GDP for the most recent quarter compared to the previous quarter? What was the percentage change in Real GDP for the two quarters?
The poverty rate would be substantially lower if the market value of in-kind transfers were added to family income. The largest in-kind transfer is Medicaid, the government health program for the poor. Let's say the program costs $7,000 per recipi..
Find (algebraically) the points where the MC function intercepts the AVC and the ATC functions. (Hint: at one interception point MC = AVC and at the other MC = ATC)
Explain the alternative adjustment path that would result from the stimulus and compare it to the adjustment that would have occurred if the government had not responded to the recession.
Does farming in the United States have the characteristics of perfect competition? How does perfect competition in the farming industry help farmers and consumers? or Hurt farmers and consumers?
Compute the long-run impact of a permanent rise in money supply versus a permanent tax cut.
You have a choice between spending $195 on a new biology textbook or purchasing a new 3G smart phone. The opportunity cost of purchasing the textbook is the phone.
1. Using your understanding of tax incidence explain why some states do not charge sales tax for basic foods. 2. Explain how the elasticity of demand influences tax revenues? 3. Define progressive, regressive and proportional taxes and give an exampl..
Your local bank is reluctant to lend to you as you basically have a large mortgage loan on the property on which the hospital complex lies.
Discuss the concept of 'instruments and targets' in macroeconomic policy and assess how this concept might be applied to the current policy framework in Australia.
Gus cab driver rents a cab and pays for gas. In each of following circumstances, describe the short-run effects & long-run effects on the price and quantity of rides Gus offers.
the great recessionexplain what caused the financial crisis of 2007-2009.explain how in the economy could be
In the late 1990s a growing number of economists argued world policymakers were focusing too much on fighting inflation. Economists also argued the technical level of potential output had risen. Show their argument using the AS/AD model.
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