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Question
Explain why the real wage and business response to a change in the real wage is an important determinant in the size of the sacrifice ratio.
Suppose there are 12 million employed people and 0.72 million unemployed people. There are 4.5 million people who are not in the labour force.
Suppose two people, Mary and John each live in an isolated region. They each have the same resources availabe and they grow corn and raise pigs. Mary devotes all her resources to growing corn, which she raises 200 pounds of corn per year.
Dot.com Products, offers storage containers for fine china on the Internet. The corporation is the low-cost retailer of these quilted boxes with fixed costs of $480,000 a year,
a firms profit ?q is the difference between its revenue rq and costs cq..a what condition holds when the firm is
1. suppose that the following equations describe an economy c i g t and y are measured in billions of dollars and r is
Indicate the equilibrium production and consumption point in autarky, using a PPF. What must occur for this country to gain from trade?
Suppose the market for widgets can be described by the following equations: What is the equilibrium price and quantity?
What is the magnitude and direction of spending
What assumption is being made regarding demand elasticities in making the charge of arbitrary enhancement of the surplus? Explain.
What is money? How has the monetary system solved many problems the economy faced from barter?
As a policy maker, would you prefer the strategies of aggregate supply-based economic growth or aggregate demand-based growth? Why or why not?
If the real interest rate is less than the growth rate of output, explain why governments can run a deficit yet not have to worry about the size of their debt.
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