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Research and describe the Austrian school of economic thought and the Keynesian school of thought. What are the major differences? Who are the major proponents? Which school of thought (or perhaps it's not even one of these) do you think best describes current economic thought that directs and influences economic policy in today's American society.
In earlier topics, you explored the tenet of conscious leadership and the influence of self-awareness on your leadership style. You established that a clear understanding of your abilities, motivation, and goals provides a firm foundation for leading..
Explain how you are going to make this decision. If you hire a real estate agent, will the agent be willing to work in your interest of finding the best customer possible? Design two ways in which you can motivate the real estate agent to act in your..
Discuss the advantages and disadvantages of using GDP as a macroeconomic indicator. Identity and explain the rationales behind alternative measures of the wellbeing of the society.
Adaptive expectations models rely on expectations of future events being formed solely on the basis of past experience. In developing and transition economies the application of tools to effectively counter the problem of asymmetric information is ra..
consider the following data. the money supply is $3 trillion, the price level equals 2, the real gdp is $6 trillion in base-year dollars. calculate the velocity of money.
Elucidate how if at all among the following events affects the location of a country's production possibilities curve.
Consider three households (i = 1, 2, 3) each with preferences ui(xi , G) = xi × G where xi is the consumption level of private goods by household i and G is the level of public good. Private good costs 1 and public good costs 10. Individuals have inc..
Draw a PPC with a bow and why it occurred, label all points and X & Y axis, show efficiencies and inefficiencies and describe with examples. Draw a supply and demand curve, label X & Y axis and show equilibrium. Show shortage and surplus and why they..
Martin lives for two periods, earning $50,000 in income in period 1, which he consumes or saves for period 2. The interest rate on his saving is 10% per year. Interest income is taxed at rate τ = 30%. Draw Martin’s intertemporal budget constraints wi..
A firm has estimated that the demand for its product comes from two types of customers, type I and type II. Each type I customer -there are 30 of them- has a demand curve given by Q = 20 - P, while each type II customer -there are 50 of them- has a d..
Rent control is a form of government imposed price controls. How can rent control distort the market for apartments? Be sure to explain rent control by using your understanding of price ceilings and price floors.
Suppose that you are the economic advisor to a local government that has to deal with a politically embarrassing surplus that was caused by a price floor that the government recently imposed. Your first suggestion is to get rid of the price floor, bu..
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