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Identify components of the economic stimulus package beingdebated in Congress and how they might increase GDP and help theeconomy. For example, one aspect of this package involves jobcreation, which
Labor demand for low skilled workers inthe U.S. is w=40-.15L where L is the number of workers (inmillions) and w is the hourly wage. There are 180 million domesticU.S. low-skilled workers who supply
AP. "The rise, and potential fall, of America's banks." MSNBC. Feb. 8,2009. (1) The governmenthas a plan to keep U.S. banks from collapsing. What do analysts expect theplan to include (2) How did we g
Susan begins to examine shifts in demand for shoes. She discovers that as the population increases then it is likely that there will be a shift in demand to the right for shoes. She also discovers tha
Define the following cost types: total cost, fixed cost, variable cost, average total cost, and marginal cost within U.S. Healthcare.
Respond to each of the following questions in 150-200 words each covering the economic topics and concepts described in chapter 9 and 10 of the text, Essentials of Health Economics.
Which of the following resources receives income known as interest when it is used in the production process? entrepreneurship
Suppose government were to provide free daycare for children and assume this has no effect on the real wage w, taxes T, and dividend income π. Determine effect of the daycare program on consumptio
If a country has __________ in the production of an item, it can produce __________ of the item (for a given quantity of resources) than can other nations
In many industries, such as supermarkets, banks, cell phonecompanies, etc., because of mergers our choices as consumers arereduced to two or three competitors. Do you think thisis good for the econ
1. How many glasses of brandy and cigars are consumed during andevening 2. Now the sum of brandy and cigars consumed in the day isless than or equal 5. What's the optimal consumption under this cons
Consider the 2-period environment from class.The economy is populated by two types of agents A and B. There is an equalnumber (N) of each type. The agents have preferences which incorporate impatien
Suppose that thedemand curve for corn is downward-sloping but that the supply curveis perfectly price inelastic at a quantity of Q* once the corn isharvested. Furthermore, assume that the equilibriu
"The most disruptive supply shocks in recenthistory were caused by OPEC, the Organization of PetroleumExporting Countries. In the early 1970s, OPEC's coordinatedreduction in the supply of oil nearly
An economy is inlong-run macroeconomic equilibrium when each of the followingaggregate demand shocks occurs. What kind of gap-inflationaryor recessionary-will the economy face after the shock
Suppose the Bulyanhulu mine always producesat the scale where its marginal cost equals the selling price ofgold. Its marginal cost curve however, shifts with changes inelectricity process, wages and
In each of the following cases, either a recessionary orinflationary gap exists. Assume that the aggregate supply curveis horizontal so that the change in real GDP arising from a shiftof the aggrega
Most macroeconomists believe it is a good thing that taxesact as automatic stabilizers and lower the size of themultiplier. However, a smaller multiplier means that the change ingovernment purchases
An economy is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap-inflationary or recessionary-will theeconomy face after the shock
suppose that in one year household consumption falls by $20 billion(compared to the year before), but business firms continue to produce consumer goods at an unchanged rate. if there is no other cha
What would need to be added to the basic supply and demand model to accurately predict what people do whenthey aren't sure if the store will have the goods they wantin stock. What should the shortag
Suppose that you are the chiefeconomic advisor to the president of the U.S. You are asked topropose a strategy to bring the economy out of recession. Your goalis to avoid inflation and yet bring the
In Northlandia, there are no labor contracts; that is, wagerates can be renegotiated at any time. But in Southlandia, wagerates are set at the beginning of each odd year and last for twoyears. Why w
What are the short- and long-term economic benefits and costs associated with our current high federal government budgetdeficits Do you think the economic benefits outweigh the economiccosts, or not
In a country such as Japan that has had verylittle inflation in recent memory, it will take longer for a changein the actual inflation rate to be reflected in a correspondingchange in the expected i