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For each of the following, explain whether it shifts the short-run aggregate supply curve, the long-run aggregate supply curve, or the aggregate demand curve (or more than one of these).
What are three factors that can change the economy's potential output? What is the impact of shifts of the aggregate demand curve on potential output?
Explain the significance and implications of various economic theories pertaining to profit, consumer choice, demand and supply, forecasting and optimization.
Task: Describe the policy mix that would result in each of the following situations: a. The interest rate decreases, investment increases, and the change in aggregate output is indeterminate. b. Aggre
The graph shows the aggregate demand curve in a representative economy. Suppose that there is a decrease in taxes. using the line drawing tool, show the effect on the aggregate demand curve, and lab
Problem: Some quick thoughts on the following statement: Minimum wage increases unemployment among young workers and unskilled workers.
Question: If monetary and fiscal policy have fairly long lag times, how can they be effective ways to neutralize the economy?
Question 1: If Real GDP is less than Natural Real GDP, the economy is in____________.
Solve the following problem by developing new policies, actions or solutions. Identify how we can pay for this solution to be implemented? New taxes? Cuts in present programs? Are there any changes
Task: Which of the following would most likely increase the slope of the yield curve? 1. An increase in the rate that prices are expected to increase over the next 30 years. 2. A decrease in the risk-
(1) Discuss two benefits to the New Zealand economy due to the export education industry. (One paragraph, max 100 words).
Problem: Gross Domestic Product - definition, explanation of the different types of expenditure.
Problem: What is a price floor? Show graphically, the effect of a price floor on a market. Problem: What happens when government imposes a national minimum wage?
Problem: What is the impact on the widening gap between the rich and poor in the United States from unskilled immigration labor?
What is the most important characteristic of oligopoly? a. firms have market power b. product differentiation c. barriers to entry d. interdependence of profits e. none of the above
1. What is the nation's frictional unemployment rate? 2. What is its structural unemployment rate? 3. What is its unemployment rate?
Problem 1: If the economy is at the natural rate of unemployment but those who favor an active approach to policy think the natural rate is lower, they will try to shift
You are a recent University graduate hired to create a Human Resource department and serve as the HR Director for the SMC Company, which manufactures ergonomic office equipment.
Based on the information presented in above, what is the point cross elasticity of demand for Fantasy pinball machines with respect to Old Chicago pinball machines when P = $150, Px = $100, U = .12,
(1) Explain why these workers will have different asking wages. (2) Why would search theory explain the differences in their unemployment rate?
In the country of Leducistan, a mass migration of refugees found solace within its borders and all of them sought work. What will happen to the country's unemployment rate and labor force participat
Problem: Which of the following categories fall under microeconomics, macroeconomis and other topics?
Use graphical analysis to show the gains and losses resulting from the migration of population from a low-income country to a high-income country.
Problem: What examples can you think of where different cultures exhibit differences in how they view or use economics?
The President and Congress change the budget accordingly, but after 18 months, GDP only increased by three quarters of the expected amount. What factors might be responsible for this situation?