Assume the short-run aggregate supply curve

Reference no: EM131173820

Assume the short-run aggregate supply curve can be expressed algebraically as: Y = 4,500 + 3,000π and the dynamic aggregate demand curve can be written as: Y = 5,000 – 1,000π

a. Find the numerical value for the short-run inflation rate? Show your work.

b. Find the numerical value for equilibrium output in the short run? Show your work.

Is the employer liable under theory of respondent superior

Neal Rubin, while driving his car in Chicago, inadvertently blocked the path of a Yellow Cab Co. taxi driven by Robert Ball, causing the taxi to swerve and hit Rubin’s car. An

Example of economies and scale and dis-economies of scale

Economies of scale and dis-economies of scale? What do these terms mean, when do they occur and how do they differ? Can you provide an example of economies and scale and dis-e

Draw the extensive form of this game

There are three players, labeled 1,2 and 3. At the start of the game, players 1 and 2 simultaneously choose between playing “A” and “B”. If they both choose “A” then the game

Constructively engage disagreement in a team

Leaders generally want followers who can bring up issues or concerns in a positive way that leaves room open for change. Can you think of a time you had an opinion that ran co

Free market using marginal cost analysis

Consider the problem of the apple farmer. In your own words, explain the farmer’s optimal solution in the free market using marginal cost analysis. How might this solution be

Aggregate planned expenditure increases

Suppose that aggregate planned expenditure increases by \$0.75 trillion for each \$1 trillion increase in real GDP. If investment increases by \$1 trillion, calculate the change

Assume that initially output is at its natural rate

Describe how, if at all, each of the following developments affects the AD and/or IA curves: Suppose that there is a technological disaster that makes workers less productive

Demand and supply microeconomics concept

Explain your findings of the demand and supply microeconomics concept of Apple Inc. and the implications to their sustainability. Also, explain how it would be applied to th