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What are the three main aggregate supply factors that determine a nation's potential (or full-employment) level of real output?
When was the Federal Reserve created and for what purpose? How does the Federal Reserve manipulate our economy to foster economic growth?
What are the different phases that a Drug Company goes through in order to bring a new drug product to market in the U.S. and Europe?
What tariff policy is in place for automobile manufacturers? Compare the automobile industry to the two industries you chose to research.
Explain why the aggregate demand curve slopes down. How is the U.S. national economy different from those of other nations?
Compute the value of the Keynesian tax multiplier. Give the amount of the change in the equilibrium level of Real GDP due to a $6 increase in lump-sum taxes.
What is the value of the average propensity to save at $400 real GDP? What is the value of the marginal propensity to consume?
How large is the annual mortgage payment? How much interest has been paid on the mortgage?
Explain the changes in the supply and demand creating a supply and demand curve based on the above information
Why does the consumer price index exaggerate the inflation rate? Discuss the limitations of national income accounting.
Give examples on how the definition of unemployment rate overstates or understates the number of jobless people in the economy.
Find an example of the current spending/proposals by the govt and discuss whether this is complete or partial crowding out.
In what ways can fiscal policy affect aggregate supply? How do automatic stabilizers differ from discretionary fiscal policy tools?
Write a paper using a real world experience in a free market to describe a change that occurred in supply or demand as a result of world events.
Calculate the short and long run price elasticity's of the demand for cigarettes. Is demand more or less elastic in the long run than in the short run?
What will happen to the price at which fishermen can sell lobster? What will be final output of lobsters? What will happen to the price paid by U.S. consumers?
How is an aggregate demand curve derived? What would cause the aggregate demand curve to shift to the right?
Identify absolute and comparative advantage of U.S. and Japan. Identify absolute and comparative advantage. Describe the pattern of trade.
Analyze the changes that occurred in the host country's marketplace over the last 20-30 years.
If consumers paid an amount for water that reflected the value of the total benefits they receive from consuming it, then what would consumer surplus equal?
If 150 million workers produced America s GDP in 2010, according to the World View above, how much output did the average worker produce?
The chapter traces out the evolution of money from commodity moneys to unbacked fiat moneys. How is money likely to change during this century?
Describe the four types of unemployment. How do the four types differ in their effects on the economy and on the unemployed?
What are the limitations of evaluating the GDP? What is an example of demand-pull inflation? How does it affect our daily decisions that we have to make?
Why was the unique symbol used for the Euro chosen? What are some unique physical features of its paper notes and coins?