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Assume the federal government was forced to operate under a balanced budget (like the states do).A. How would this impact policymakers' ability to use policy?B. What would Congress be forced to do during a recession? What is the mostly likely impact of the policy?
Calculate the price elasticities of demand for A and B at P=30, 20 and 10. How does the elasticity change as you move down the demand curve?
if the government wanted to use a food tax in order to significantly reduce the quantity of sweet and sugary drinks we consume, this could be accomploshed with a relatively small food tax on these drinks if: demand was elastic, demand was inelast..
What is the Federal Reserve (Fed) all about Which Federal Reserve District Bank is closest to you Who is the current Chairman of the Fed Should the Fed remain independent from political authority or should the President and Congress have a say in ..
Assume that an electric power plant could be built in the Upper Peninsula using wood as the fuel and would produce 578 megawatts of electricity. Assume that it would have an efficiency of converting wood energy into electricity of 0.26. Let's assu..
The marginal revenue product of labor is: a. how much labor can be purchased with the revenue from the sale of one more unit of the good. b. how much does the marginal revenue change when you add more labor. c. the same as the marginal revenue produc..
The demand for energy in the United States is often described as persistently non-cyclical and not sensitive to prices effects. Describe the effect of each of the following on the demand or supply for gasoline.
Determining who benefits can be tough for negative events, but it's especially important in order to prevent the unscrupulous from recapitalizing on them. Consider the following events and trends, and determine possible winners and losers from an ..
At a 10 percent rate of interest, how much interest will the government pay each year? d) If this same budget deficit occurs for a second year, what would the national debt become? And at a 10 percent rate of interest, now how much interest would ..
Calculate the price elasticity of demand for Einstein's Bagels and explain what it means. Derive an expression for the (inverse) demand curve for Einsteins's Bagels.
What about lowering interest rates and increasing money supply (i.e., monetary policy) If you were the chair economic advisor to the President of the United States, what would be your advice to him What does the Scripture have to say about money
Describe an example of risk calculation found on the web and what risk calculation technique is illustrated by your example? Would you have employed a different risk assessment technique than used in your example, and why?
Go to the Bureau of Economic Analysis on the Department of Commerce's Web site, and look up the latest new release for real GDP. Where are we in the business cycle What is the real GDP today What is the nominal GDP todayWhat is the difference between..
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