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1. What shape did the short-run aggregate supply curve have during the 1930s, according to Keynes? Explain
The Value of the Marginal Product of Labor Equation is an important equation.
Consider the Labor Economics Question. This will provide insight into the idea of the optimal number of workers and the value of the marginal product of labor.
Economic theory tells us that (under reasonable assumptions) a rise in the government budget deficit raises interest rates. Show how the debt is monetized if the Fed tries to maintain stable interes
Suppose that First Bank discovered that its computer had been programmed incorrectly and that it suddenly was short of reserves by $100 million. What would you expect to happen to the federal funds
Suppose that the return on domestic bonds held by foreigners in country i are subsidized at the rate s and that returns on domestic bonds held by residents of country j are taxed at the rate.
Suppose the government misjudges the natural rate of unemployment to be much lower than it actually is, and thus undertakes expansionary fiscal and monetary policy to try to achieve the lower rate.
You own a company. You have just been tasked with making the company more socially responsible. What issues must you address to satisfy the employees, stockholders, customers, and community
Recently, a bank was trying to decide what fee to charge for "expedited payments" - payments that the bank would transmit extra-speedily to enable customers to avoid late fees on cable TV bills, ele
Suppose you are the chairperson of the Fed's Board of Governors at a time when the economy is depressed, and you are called to testify before a congressional committee.
Discuss actions governments can use to restrict free trade; give at least two specific examples and explain the advantages and disadvantages of government restriction on free trade in each situation
1) Give one example of a price floor and one example of a price ceiling. 2) State the purpose of these legal prices and assess their impacts on the market. 3) Evaluate the extent to which the price fl
Reliance on finite supplies of foreign oil and on coal fired electric power plants causes ever increasing prices that we must pay for the oil and the deleterious effects on our environment from both
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development What kinds of costs are involved in makin
What are the primary types of risk that investors or companies exposed to when dealing in the international financial markets What are the primary ways one can protect themselves from this risk
*Dayan's Doorstops, Inc. (DD) is a monopolist in the doorstop industry. Its cost is C = 100 - 5Q + Q2, and demand is P = 55 - 2Q. a. What price should DD set to maximize profit? What output does
Suppose a monopoly manufacturer sells directly to a monopoly retailer. What are the implications in regard to price, output, and profits as compared to the case where the monopoly manufacture and m
Insurance agents receive a commission on the policies they sell. Many states regulate the rates that can be charged for insurance. Would higher or lower rates increase the incomes of agents Explain,
How does the theory of efficient production apply to manager of government bureaus or department that are not run for profit How about nonprofit club that collect enough dues from their members to c
What is the appropriate balance between private and public (i.e., government) activity. Think of a case where the government has intervened (or it was suggested that government intervene) in a prev
Suppose that you are a member of the Board of Governors of the Federal Reserve System. The economy is experiencing a sharp and prolonged inflationary trend. What changes in (a) the reserve ratio, (b
Greengenes' landlord rejoices, saying, "According to the leftover principle, you will pay me $300 more in rent." Is the landlord correct. If not, is he applying the leftover principle incorrectly, o
The government has imposed a tax on gasolone. What is the amound of the tax per gallon of gasoline How much tax revenue will government collect from this tax How much of the tax is paid by consumers
the engineering department of a large firm is overly crowded. In many cases, several engineers share on office. It is evident that the distraction caused by the crowded conditions reduces the produc
how many years will it take the dollar's purchasing power to be one half what it is now. if the general inflation rate is expected to continue at rate of 6% for an indefinite period