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Analyze the effects of a reduction in the nominal money stock on the price level, on output, and on the real money stock when the aggregate supply curve is positively sloped and wages adjust slowly over time.
Suppose the demand for apartment rentals in Los Angeles is Q = 1000 - P and the supply of apartment rentals is Q = 4P. What is the equilibrium price and quantity of apartment
Suppose you are receiving a large shipment of Gizmos. The manufacturing standards provide that 1% of Gizmos turn out defective. You randomly select a sample of n = 25 from eac
The wage rate for labor is w = 2, the rental rate of capital is r = 1, and the cost of materials is m = 4 per unit. What is the long run cost minimizing level of capital tha
List and explain the factors that cause an increase in demand (i.e., shift the demand curve to the right). If price is or is not one of these factors, explain why? List and ex
Besides specialization there are a number of other economic advantages to marriage. Provide a brief explanation of the following concepts and how they related to marriage:
Assume an open, mixed economy (C+I+G+X=real GDP) and an MPS of .2 What is the multiplier? if the government spending (G) increases by $50B, how much will the real GDP increase
Consider an economy with a representative consumer like the one described above, and a representative firm like The production function of the firm is given by zF (K, N) where
Suppose the price and quantity equilibrium is below the price and quantity which maximizes total revenue, what strategy would you use for the firm. Assume that the demand curv
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