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If the real wage is £9 per hour, determine the levels of employment and voluntary and involuntary unemployment.
Provide some examples of specialized markets of retail outlets. What makes the Web so conducive to specialization?
(1) Calculate the equilibrium level of output. Graph your solution. (2) If the government spending increases by 50 what is the new equilibrium level of output? Use the government spending multiplier
The Fed loosened monetary policy in various ways in 2007, but has recently started tightening monetary policy again. Explain how each instrument they have used works and whether it is a loosening or
A country runs a budget deficit financed by printing money. In this situation, you'd expect to see inflation and a currency appreciation.
Explain briefly how a change to the following MS, MD, or P (ceteris paribus) would shift the LM function to the right. Include in your discussion whether the variable would have to increase or decre
In each part of this question, assume that the U.S. economy starts from a situation where real GDP equals potential GDP.
Probelm: Describe the significance of supply and demand * To a Small business owner * To the executive management of a large bank
Which of the following is a characteristic of pure monopoly? A. close substitute products B. barriers to entry C. the absence of market power D. "price taking"
Question 1: The following are labor Demand and labor supply curves for the economy,
Use the following supply data along with the demand data from exercise 2 to determine the market equilibrium price and market equilibrium demand.
Question: Who would be better able to analyze this market, a microeconomist or a macroeconomist? Question: How would you describe the opportunity cost for cattle ranchers?
In an expansionary fiscal policy to overcome the current recession, the Federal Government increases its spending to impprove the nation's physical infrastructure (roads, airports, seaports, airport
Purpose a monetary policy action that could eliminate a recessionary gap in the short run.
In an economy in which velocity is constant and the level of real output grows at an average rate of 4 percent per year, a 4 percent average rate of growth in the money supply would result in
In the aggregate demand-aggregate supply model, a decrease in the money supply will cause in the short run a(n)
Sum the individual firm supply curves to derive the market supply curve. Plot the market demand and market supply curve with price as a function of output to illustrate the equilibrium price and lev
Brynjolfsson et. al.'s model of consumer surplus provides a quantitative measure of the value of the Long Tail. Outline a method, and the kind of data that you would want, in order to apply this mod
You observe that output is above full-employment output. Politicians are arguing about the possible reasons. One party claims that this is due to a drop in world oil prices.
Draw out multiple supply/demand graphs and identify (in color) where you have: 1) Consumer Surplus, 2) Producer Surplus, 3) Consumer Deadweight Loss, and 4) Producer Deadweight Loss.
Which of the given changes to fiscal policy would have a larger overall impact on Aggregate Demand? Explain your answer in a paragraph or 2.
Use the formula r =f'(k) to calculate the steady-state rentals rate. Explain why the real interest rate is r-n-δ. (Hint: if you give up a unit of consumption, you can buy a unit of capit
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market.
There are few signs of emerging excesses that even undermined America's own banking system at the end of the 1980's...Again, of course, a significant fall in asset prices would harm balance sheets,
The question asked that suppose that the Organization of Petroleum Exporting Countries raises oil prices by 50 percent in 2005. What effect will thishave on the U.S. Aggregate demand curve? On the U