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Using the Grapher tool, create a graph showing what the short-run effects would be and what would happen in the long run. Give reasons to explain what the government would have to do to keep the unemp
A simple Keynesian income determination model of an economy is described by the following equation
Why does the assumption of independence of risks matter in the examples of insurance? what would happen to premiums if the probabilities of house burning were postively correlated?
Determine whether each of the following would cause a shift of the aggregate demande curve, a shift of teh aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What
Price high or price low. The profit from each of the four possible combinations of decisions is given in the following payoff matrix: Does either firm have a dominant strategy.
Why doesn't the National Bureau of Economic Research identify the turning points in economic activity until months after they occur?
Prepare an appropriate initial tableau. Obtain an initial feasible solution using the least cost method
Design a new product. "Build" your new product. Explain each step (5 step minimum) in the building process and how much waste is produced at each step and where it ends up.
What fiscal and monetary policies would you recommend in order to close a recessionary gap? What expansionary polices would you recommend?
Resource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising due to improvements in technology that allow more output to
The cheating firm earns $10.00 and the one that does not cheat earns -$5.00. If both cheat they earn zero profit. Represent the results in a normal form game.
Economist Milton believes that expectations of inflation change quickly in response to new policies, whereas economist James believes that expectations are very sluggish. Which economist is more li
President Roosevelt proclaimed that Thanksgiving would fall a week earlier than usual so that the shopping period before Christmas would be longer. Explain what President Roosevelt might have been t
Tyler purchases 5 pounds of hot dogs per month when his monthly income is $2,000 and 4 pounds of hot dogs per month when his monthly income is $2,200. Tyler's income elasticity of demand for hot dog
Compare the market for an Ivy league education before and after 1991. Predict what has happened to the efficiency of the market, to the distribution of producer surplus and consumer surplus, and to d
Have a restaurant in the suburbsbut i pay no rent for my restaurant now and i dont want to see my costs rise by $3000 oer month" what do you think of jill's reasoning?
Create an example of automobile prices in London and New York where PPP holds. Assume initially that the exchange rate is $2 per pound, and a particular car sells for $20,000 in New York and 10,000
calculate the change in the quantity of rye demanded divided by the change in the price of rye. measure the quantity of rye in bushels.
Complete the table by calculating Amy's total revenue and her profit or loss schedule. When Amy is producing 4 wreaths, what is her total cost? What is her total revenue? What is her economic profit o
Suppose Ford, GM, and Dodge make the majority of pick-up trucks sold in the United States If they all sell for approximately the same price, and Ford offers a $2,000 rebate on new truck sales, what
What is the difference between movements along IS and LM curves? What are their economic implications?
If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 1300 units to 2200 units? Show all work.
Problem of A firm production function 4x1/3 y1/3, Price of output is 1 and price of each input is 1. Constrained is to use 1000 units of input x.
The most important determinant of consumer spending is:
Fund research into clean fuel alternatives to gasoline, which will improve the air we all breathe. Who bears more of the burden of this tax? Show a diagram who bears how much of the excess burden.