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The Federal Government had a budget surplus in 2001 but a budget deficit in 2002. This was due to the recession, the tax cut, and the increased military spending. The change from a budget surplus to a budget deficit was due to Midterm 4.0.pages
(a) neither cyclical nor structural factors.
(b) cyclical factors but not structural ones.
(c) structural factors but not cyclical ones.
(d) both cyclical and structural factors.
1. For each of the following economic conditions, place an X in the table to indicate theappropriate range in the Aggregate Supply Curve
Computer Colleagues, Inc. wants its name on the new computer engineering building planned for Somewhere University. For naming rights, the university requires that 60% of the first cost of the building and 20% of the maintenance costs be covered by a..
Explain the role of the Federal Reserve, who monitors it and is it effective in its job? Evaluate one of the strategies of the Federal Reserve.
Will price be lower or higher as such an agreement in long-run equilibrium than would be the case if firms didn't collude.
When a nation's currency appreciates, it purchases ______ units of a foreign currency and it is said to _______ .
The quantity demanded of the resource in each year is given by the equation Qt = 10 - Pt . The marginal cost of extraction is zero.
Assume that the demand for oil is D (P, δ) = δ-where the variable δ is an exogenous demand shifter. The short run supply of oil is S(P) = (P-3)/2. The baseline case is δ=6. Assume that this is a free entry market. Calculate the long run equilibrium p..
Illustrate what does it imply about actual price level relative to expected price level. Illustrate what must happen to real and nominal wages in order to close a contractionary gap.
What are the three questions that must be answered in order to determine the consumers' willingness to pay in a mixed market of cars with both Lemons and plums?
For each of the following goods, give your best estimate of its most likely degree of rivalness and (relative) exclusion cost, using the definitions of these variables and the information in the course notes on externalities and public goods.
Decide on the next steps based on the events that took place. What makes this next step the best decision?
The revenues and costs of The Greener Way, a lawn care business wholly owned by Mr. Albert Johnston are listed below. Lawn Mowing $63,000 Aeration $2,000 Labour Cost $30,000 Vehicle Costs $15,000 Lawnmower Maintenance $5,000 Debt-Service Costs $13,00..
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