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1. Consider the market for a particular type of computer memory chip. Would you expect the long-run (own-price) elasticity of supply to be larger or smaller than the short-run elasticity? Why?
2. Consider the market for new automobiles in Canada. Would you expect the long-run (own-price) elasticity of demand to be larger or smaller than the short-run elasticity? Why?
Explain, using the best framework you can think of (based on our class discussion), the effect of a large federal deficit on interest rates.
#If the reserve bank wants to pursue a contractionary monetary policy, the bank should?
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Application of Revealed Preference Approach It has been strongly argued, especially by Sir John Hicks, that one major advantage of revealed preference theory is that it is expl
How does an increase in income affect a consumer's budget line and their total utility?
Discuss about real verses nominal gross domestic product. Real verses Nominal Gross Domestic Product: Real Gross Domestic Product: the value of the concluding goods and se
Determination of L in the cross model As firms will produce less than Y OPT , they require less labor than L OPT . We can determine exactly how much L they need in order to pro
Q. What do you mean by yield curve? Yield curve is a graph of interest rates of different maturity (recalculated to yearly rates) at a specific point in time. It's common for t
Evaluate the impact of an aging population on state and local government expenditures. Suggest strategies that government should take in dealing with this situation. Justify your r
WHAT IS THE CENTRAL PROPOSITION OF THE ORTHODOX KEYNESNIANS?
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