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1) Why was it so critical in the development of mankind, from an economic perspective, that human beings finally were able to create a surplus of food relative to their needs?
Suppose that the average prices of refrigerators have fallen over the past few years, yet the refrigerator companies have offered more and more of them for sale. Does this mean that the supply curve for refrigerators is downward sloping?
Assume that the nominal wage rate equals 60. In the short-run, aggregate demand and aggregate supply are equal at a price level of 1 calculate the real wage rate.
Suppose an economic advisor to the president recommended a personal income tax increase. indicate the expected effects on demand, supply, and gdp?
Firms in Fredonia always invest $700 and net exports are zero, initially. The government budget is balanced with spending and taxes both equal to $500.
If the Inflation rate were to accelerate the economy would be flourishing as there is a need for more people to do the work.
Money must have material backing to have value. Justify your response. Take a stand on whether or not it would be easier for the Federal Reserve to expand the supply of money in a period of prosperity versus in a period of recession.
Imagine the opera has a capacity of 3000 seats and that all costs are fixed. If they can discriminate between the two groups, what is optimal price to charge to each group and how many tickets will each group buy?
Show graphically the effects on the macroeconomy of a sharp rise in OPEC oil prices in? A. the short run and B. the long run. How do you account for the differences in your answers to parts A and B?
German unification involved massive expenditures for infrastructure in the east, as well as transfer payments to many former East Germans. Should such expenditure have been financed by (a) money creation because of their transitory, exceptional na..
The following graph shows the domestic supply of and demand for soybeans in Honduras. The world price () of soybeans is $550 per ton and is represented by the horizontal black line.
Particularly indicators of improving or reducing levels of performance, used by your organization, and how those indicators relate to the kind of "national indicators" we have been Analyzing.
If the MAAR is 12 percent, compute the value of X that makes the two alternatives equally desirable.
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