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Suppose that the aggregate demand and supply schedules for a hypothetical economy are as shown below:
Use these sets of data to graph the aggregate demand and aggregate supply curves.
A. What is the equilibrium price level and the equilibrium level of real output in this hypothetical economy? Is the equilibrium real output also necessarily the full-employment real output?
B. Explain. Why will a price level of 150 not be an equilibrium price level in this economy? Why not 250?
C. Suppose that buyers desire to purchase $200 billion of extra real output at each price level. Sketch in the new aggregate demand curve as AD1. What factors might cause this change in aggregate demand? What is the new equilibrium price level and level of real output?
Illustrate what will the level of output and price in the long run if this industry were perfectly competitive.
The moral hazard is the degree of risk that the insurance company is taking in order to provide coverage on the individual.
Using the probability from part a, if 5,000 data sets include 10,000 random numbers, how many of these data sets would be expected to have a sample mean of at least 0.499
Illustrate what do you think causes changes in each of the expenditure (spending) components of GDP thereby causing changes in our economy's output, employment, and income levels.
q1. a concrete operational thinker and a formal operational thinker are giving the following logical statements 1.if
Explore in particular Elucidate how the two companies' respond to the macroeconomic conditions in terms of their.
By what percentage will the demand for coffee increase each year? Show how you got the solution. How soon will the area have enough demand to support a fifth Starbuck? Show how you got the solution.
from the scenario assuming katrinas candies is operating in the monopolistically competitive market structure and faces
Though it does lead to an interesting next question. Illustrate what do you think would happen to sale and price of DVDs after this.
q.suppose that there is a unit mass of consumers who are uniformly distributed on the segment01. two firms are located
When the minimum wage is set above the equilibrium market wage,
During the course of a week, McDonald's has enough time to hire or layoff workers, but it does not have enough time to expand its kitchen or add an additional seating area.
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