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Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations, and what can government do, if anything?
During the late 1980s and early 1990s, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing, household goo..
As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, answer the following questions: What two policies could you use to reduce the total amount of emissions Why do you think they each w..
A change in the money supply has no effect on the long run values of the interest rate or real output.
Discuss how the aggregate expenditure function shifts in response to changes in each of time following variables:
Mention and explain the two types of inflation. Which sort of inflation would most likely be associated with the negative GDP?
Compute the elasticity of demand in going from 2 unit to 3 units. Is the demand elastic or inelastic in this range.
A major competitor cut their price also the industry sales declined to 8000 shoes per month, If the company wishes to restore
What are the equilibrium real wage rate, the quantity of labour employed in 2010, labour productivity and potential GDP in 2010?
In a closed economy, marginal propensity to consume .6. If the economy opens up to world and marginal propensity to import is .4, using the Keynesian model of output determination;
Explain how and why the firms demand curve for labor will compare to that of the firms operating in a competitive product market, and the consequences for the firms employment of labor. No graphs or calculations are needed.
When economists with different political views do cost or profit comparisons, they often reach different decisions. If their analysis is based on objective costs and valid techniques, why would not they reach similar decisions,
What is the nominal GDP today What is the difference between nominal and real GDP What is the largest component of GDP What is the smallest component of GDP What is the fastest growing component of GDP and why
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