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Q. For the questions below, write an explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts [AD or AS], the direction of the shift [left or right], and the impact on output and price level [increase or decrease]) and submit a properly drawn and labeled aggregate demand and aggregate supply graph for the scenario.
When Congress authorizes a tariff on imported steel, steel producers around the world boycott American products.
Congress votes to cut spending on the space program.
Tourists flock to visit the major theme parks in Orlando, Florida.
The election of a new Congress causes consumer confidence to soar as expectations of future economic growth are solid.
Which of these same curve would shift as a result of the per-burger tax. Curves average fixed cost,marginal cost would shift as a result.
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
If Sammy refuses to contribute to the butterfly garden, he'll not be able to enjoy its benefits if it is built.
When and where did modern economic growth first happen. What are the major institutional factors that form the foundation for modern economic growth. What do they have in common.
Suppose that increased international trade makes product markets more competitivein U.S., would we expect to observe an upward slope on the WS curve or the PS curve
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential.
Total hours worked, and average labor productivity all are procyclical. Which variable, output or total hours worked, increases by a larger percentage in expansions falls by a larger percentage in recessions.
Their banks are holding back credit so it is harder for businesses to invest and for consumers to spend
To one side maximizing profits evaluate the factors which managers must consider when making judgment to outsource or integrate forwards/backwards considering which factor would be mainly significant for decision-making.
Hiro Nakamura is CEO of the Cola King Bottling Company, a small regional producer operating in the Pacific Northwest. Nakamura is considering two alternative expansion proposals
Jane wants to buy a beautiful doll as a gift for her sister's birthday. What is the advantage to society to correct the externality?
Distinguish between the resources market and the product market in the circular flow model.
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