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Explain whether the following statements are true or false:
a) The long run aggregate supply curve is vertical because economic forces do not affect long run aggregate supply.
b) The aggregate demand curve slopes downward because it is the horizontal sum of the demand curves for individual goods.
c) Whenever the economy enters a recession its long run aggregate supply curve shifts to the left.
how do i calculate how much the gorverment should spend if the MPC is 0.8 and 200million is requered to reach full employment ?
Suppose you have the following information about a closed economy: C = 50 + 0.80 (Y-T) I = 200 G = 100 a) Find out the equilibrium level of income. b) Suppose G in
Should the government increase, decrease or remain the same in its level of intervention when it comes to mandating that companies provide product information to consumers? What ha
If the price of a good rises, what are people likely to do? a Substitute a less expensive good b Buy more of the good c Buy more of all goods because of added buying power d All of
Engineers sometimes add chlorine to pipes to disinfect water. It is desired to achieve four logs of kill. This means that the effluent concentration of microorganisms is 10 -4 tim
Determine the Economic functions of money There are three functions of economics of money - A medium of exchange. - A unit of account - Store of value.
ihave real gdp per capita for all countries in world .. how can i calculate world real gdp per capita by using the data.
Multiple Expansion We have seen that a single bank in a banking system can lend rupee for rupee with its excess reserves. What is the lending ability of the commercial banking
A recent study in NJ showed that 50% of all patients will return to the same dentist. Suppose nine patients are selected at random, what is the probability that: (a) exactly five o
After a competitive bidding process, Firm G wins a contract to collect and dispose of Firm H's hazardous waste for $1,000 per year. Firm G's labor costs are $200 per year, and beca
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