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While referring to the "EYE on YOUR LIFE" section on page 389 of the textbook, discuss the change in the U.S. unemployment rate and inflation rate over the past year based on the Phillips curve concepts. Did they change in the same direction or in opposite directions? Explain if the change was a movement along a short-run Phillips curve or a shifting short-run Phillips curve. Can you think of reasons why the short-run Phillips curve might have shifted? Finally, based on these economic concepts as well as your own point of view discuss and explain what is worse for our U.S. economy, too much inflation or too much unemployment?
When did mortgage? Default and housing foreclosure rates begin to rise rapidly? When did the economy go into recession? Was there a causal relationship between the two? Discuss.
What is money wage rate While the money wage rate or nominal wage rate is the hourly wage rate calculated in money that a worker receives for supplying labour, the real wage r
Trends of Trade Shares: India's share in total world exports in 1950 was 1.85 percent and the share in total world imports was 1.7 1 percent. The share of both exports and imp
Q1. The poorest countries in the world have a per capita income of about $600 today. We can reasonably assume that it is nearly impossible to live on an income below half this leve
Illustrate the overview and importance of macroeconomics? After familiar with this illustration, able to know: a. An overview of macroeconomics is the study about the econom
Why is private property, and theand the protection of property rights , so critical to the success of the market system ? How do property rights encourage cooperation?
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
n 2013, approximately 58 percent of the adult population (245 million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the prerecession l
briefly explain with keynesian consumption?
Assume that the demand for running shoes is highly inelastic and the supply curve for running shoes is highly elastic. Suppose that the tastes of the exercising public shift away f
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