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Suppose that in an economy net taxes, T - TR, are equal to $500 while government expenditures are equal to $500. Furthermore, suppose you know that this economy is initially a closed economy. You ar
a. What is the current unemployment rate in Cedarburg? b. What is the unemployment rate if Cedarburg classifies discouraged workers as unemployed workers?
For each of the following scenarios analyze what happens to equilibrium price and equilibrium quantity in the market. In your answer identify if the demand or supply curves shift and if there is a m
In each part of this question you are given information about two linear relationships. Use this information to write the two equations and then use these two equations to solve for a solution that
When the government has a balanced budget and there are zero capital inflows, the market for loanable funds on Whaler Island is defined by
Write an equation expressing the relationship between the price of sewing machines (P) and the quantity supplied of sewing machines (Q). Write the equation in y-intercept form.
Based on the above information, what is the labor participation rate as a percentage of the total population?
Is the following statement true or false? "Changing the base year would never change the inflation rate as measured by the CPI"
Emoryton is a city that produces only Bicycles and Macbooks. The graph below depicts Emoryton's production possibility frontier for these two goods. Comparing point A and point B, we know that the o
Question. Who has the absolute advantage in the production of coffee beans? a) South Africa b) Brazil
a. What is the government budget balance? Does the government have a budget surplus, a budget deficit, or a balanced budget? b. Calculate the equilibrium interest rate.
i. What is the new equilibrium interest rate in the loanable funds market given this information? ii. How much has the government borrowed in the loanable funds market?
a) Calculate the nominal GDP of Nedelialand for 2007, 2008, and 2009 . b) If we use 2008 as a base year to calculate real GDP, do you think real GDP in 2007 would be higher or lower than nominal GDP
a. What is the equilibrium price and quantity? b. Calculate the values of consumer surplus (CS) and producer surplus (PS) in this market.
Suppose now that the two countries agree to team up and combine their production. Draw the combined PPF for the two countries.
Given the above information calculate for this economy the equilibrium quantity of labor, L; the equilibrium real wage, W; and the level of real GDP, Y. For full credit show your work.
The government of this economy defines the market basket for purposes of computing the CPI as a market basket composed of 5 jackets, 2 bike helmets, and 10 grilled cheese sandwiches.
Relative to the closed economy (with no price floor) the open economy's area of consumer surplus (increases, decreases) by area ________
What is Jung's opportunity cost of producing two additional pounds of crackers? Who has the comparative advantage in the production of crackers? Explain your answer.
Ellen is given the following information and she is asked to write an equation expressing this information. She is told that when the price of doughnuts is $0.50, the quantity of doughnuts demanded
You have been asked to measure Gross Domestic Product. You are informed that the sum of consumption, domestic investment, government purchases, and exports is $24 trillion. You then learn that impor
Two countries, Meka and Patia, each produce autos and ships. Their production possibility frontiers are shown in the graphs below. Which of the following is true about the countries' absolute and co
Draw the AD/AS model in long-run equilibrium. Label Yfe and the initial price level in this graph. Label all curves and both axes.
What is the actual number of unemployed workers in this economy? Hint: this will take some manipulation of the equations you have written and the information you have been given.
For this question assume that both economies have linear production possibility frontiers (PPF). Furthermore, assume that both countries have 3000 hours of labor available for the production of airp