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Explain how the price level will be affected by these expenditures in the short-run. Explain how GDP is affected in the long-run.
Draw a graph of the aggregate demand curve and the short-run aggregate supply curve.
Why is a struggle underway in Cuba between social equality and the free market? Why did Cuba permit free markets?
How does the supply and/or demand curves will shift in the following cases. a. Incomes rise and the good is a normal good
Do you think the government should have intervened and imposed a price ceiling? What would have been the economic effects of this?
Using a diagram of the US capital market, show the effect of this inflow on the rental price of capital in the United States and on the quantity of capital
Assume the Fed does not change the money supply. According to the theory of liquidity preference, what happens to the interest rate?
Explain the differences between microeconomics and macroeconomics and to provide real-world examples.
Define transfer payments and give an example. Explain why transfer payments are not included in GDP.
Question: What are the long-run effects on prices, output, and profits in monopolistic and monopolistically competitive industries?
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.