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While referring to the "EYE on YOUR LIFE" section on page 389 of the textbook, discuss the change in the U.S. unemployment rate and inflation rate over the past year based on the Phillips curve concepts. Did they change in the same direction or in opposite directions? Explain if the change was a movement along a short-run Phillips curve or a shifting short-run Phillips curve. Can you think of reasons why the short-run Phillips curve might have shifted? Finally, based on these economic concepts as well as your own point-of-view, discuss and explain what is worse for our U.S. economy, too much inflation or too much unemployment?
While climate change science has advanced considerably in recent years, and evidence of increasing atmospheric carbon is demonstrable, there is yet much unknown about the consequences of anthropogenic carbon emissions. For instance, the effect of ..
calculate the equilibrium number of visits, and total expenditures. b) Suppose that the consumer purchases an insurance policy that allows her to pay a 25% coinsurance rate. Calculate the new equilibrium number of visits and the total expenditures..
Identify and describe the five sources of growth? Mention and explain four categories (types) of policies designed to promote growth.
Credit cards are sometimes discussed as a public problem. In 2001, purchases on credit cards accounted for 21% of consumer spending in America, which has the lowest savings rate of any big country.
Sketch a graph of demand and supply curves that shows the effect of an increase in rainfall on the equilibrium price and quantity of corn. Do price and quantity increase or decrease?
This increases the need for education in the economy as a whole because automation took away these jobs. Because of the increased need for education, more jobs were created and the education setting like universities have created jobs.
Explain whether there is a relationship between inflation and unemployment and should government interfere and reduce inflation and unemployment?
Suppose Shaqueena is currently earning income of $23,000 (I =23) and can earn that income next year with certainty.
Find the optimal (profit maximizing or cost minimizing) output of each firm. Find the price that each firm charges at the when producing the optimal output.
Assume the supply for good x is estimated. Is good x storable. Explain it numerically the data you are using to suppor answer.
Determine which of the two investment projects of Problem 1 the manager should choose if the discount rate of the firm is 20 percent.
Suppose the market for widgets can be described by the following equations: What is the equilibrium price and quantity?
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