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National income and product data are generally revised. What effects would the following revisions have on consumption,investment, government purchases, net exports and GDP?
a) It is discovered that consumers bought $6 billion more furniturethan previously thought. This furniture was manufactured in NorthCarolina.
b) It t is discovered that consumers bought $6 billion morefurniture than previously thought. This furniture was manufacturedin Sweden.
Let the utility function be U = log(x) - l, where l is labour and x is consumption. Find the level of labour supply if the wage rate w=10.
If a small country wants to protect its domestic producers from more efficient foreign competition by imposing an import tariff, will it come out ahead Do consumers lose when a large country protects it's less efficient producers from foreign comp..
Jean views coffee and cream as perfect complements. In the first period, Jean picks an optimal bundle of coffee and cream, e1. In the second period, inflation occurs, the prices of coffee and cream change by dif- ferent amounts, and Jean receives ..
The Federal Reserve is most likely the most independent government agency in the US. Independence means that Fed is free from presidential and congressional political pressures.
Is this measure stabilizing or destabilizing. Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on the size of the federal deficit.
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at th downtown loaction plus the cost of making the move. THe other parnter at the PBS opposes the moves.
What is a monopolistic competitive firm Given the same resources with a firm in a perfectly competitive industry, how could output and prices (of output) be different for both firms
Behavioral economists believe that people do not always act in ways the traditional economic framework suggests they should which of the following are examples of this? check all that apply (why) 1. Some people treat $100 they earn differently fro..
Consider the argument that government spending and borrowing harms long-run economic growth. A. Is this most likely to happen if the private spending crowded out is consumption spending or investment spending.
Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses. Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people th..
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
What changes could you make to decrease your energy use? What changes could you make to increase your energy efficiency? ?What do you think would change if your heating oil or coal supply came from Russia?
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