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Suppose Springfield's economy moves into a recession and Y falls to $9 and rising unemployment allows widget makers to reduce wages to $18 per hour.
Suppose the market supply for good X is given by QXs = -100 + 5PX. If the equilibrium price of X is $100 per unit then producer surplus is?
What are two demand determinants and two supply determinants that might explain the broad decline in house prices that occurred in those years?
General shortage in qualified nurses complicate the supply chain for this increasing demand. How do we meet this growing demand?
Relate the concepts of the market equilibrating process to a real-world experience occuring in a free market.
Price ceiling sets a maximum legal price that a seller may charge, typically placed below equilibrium.
What initial effect, if any, does each of the following shocks have on Japan's real risk-free interest rate?
Why do economists attempting to forecast short run future changes in real GDP and employment look closely at data on business inventories and unfilled orders?
"The ultimate solution to any drug problem is not to curtail supply, but to curtail demand."
What is Live Theaters' total revenue function? What is its total cost function? Its total profits function?
What will be the excess demand for apartments once the price ceiling is implemented?
We associate monetary policy with lower or higher interest rates, but what most people do not realize is that what the Fed is actually doing
Question: Show the effect on the U.S. construction residential housing market in the event of severe economic recession.
Question: Show graphically the market situation for Nook E-Readers at Christmas 2009.
Compare and contrast the Keynesian from the Austrian explanation for this protracted recession. Then outline your explanation for the protracted recession.
Problem: What are price controls? What is the effect of price controls on the market and market equilibrium.
Describe the determinants of varying levels of income, the factors which determine a person's wages and if these qualifications always hold true.
Question: Why is the incidence of a tax independent of legal liability for the tax?
Explain how the market for corn would be affected if ethanol, a corn derivative, was used to fuel cars in the United States.
Explain in detail how the FED can use open market operations to help stimulate credit, production, and employment.
If PI = $20 and F = 60 what is the equation of the supply function?
Write a formula for tax revenues as a function of the tax rate, and sketch the function in a diagram with the tax rate
What would happen to the price level today if the central bank announces (and people believe) that it will decrease the money growth rate in the future
Please explain the likely effects on Savings (Gross Private Domestic) Investment, Long Term Real Interest Rates, The Capital Stock.
Construct a graph showing supply and demand in the electronic dog feeder market, using Microsoft Excel.