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The difference between the number of workers employed if the economy was opera ting at full employment and the number of workers currently employed given aggregate expenditures is known as a. cyclical unemployment b. frictional unemployment c. structural unemployment d. unemployment is not possible in the short run macro model
If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium.
Discuss the three branches of government and the role each has to play in our system, including the checks and balances that each has on the others. Analyze and evaluate the various issues presented while arguing and debating the connections between ..
Suppose the government is considering a tax policy that will reduce taxes by $100. In the economy, household consume 80% of each additional dollar earned. Assume that the tax cut has no effect on GDP (Y). How will this tax affect consumption? Calcula..
Suppose the economy begins with output equal to its natural level. Then, there is a reduction in income taxes. Using the AS–AD model developed in this chapter, show the effects of a reduction in income taxes on the position of the AD, AS, IS, and LM ..
Assume Al and Bob are fans of the Chubs. Their willingness to pay for Chubs’ preseason and regular-season games is noted below. Pre-Season: Al = 200 Bob = 300 Regular-Season: Al = 800 Bob = 600 If the Chubs were to sell the pre-season and regular-sea..
A firm has the exogenous cost function C(Q) = 354Q- 30Q^2 + Q^3. Compute the marginal cost function. Use calculus to find the value of Q at which marginal cost is minimized. Compute the average cost function.
Explain with a graph and a verbal explanation how a ticket price ceiling placed on a monopoly sports franchise (that does not sell out its games) may actually lower ticket prices and raise attendance. Assume that marginal costs are fixed.
Two friends Diane also Sam own also run a bar. Diane tends bar on Monday Wednesday also Friday also receives wage in addition to tips.
What would happen to short- and long-run aggregate supply if unusually good weather let to bumper corps of most agricultural produce? What would keep wages from falling quickly in a recession?
Co9mpute the percentage change in the Shares of Household Income of Quintiles between 1968 and 2008. Notice the dates are in reverse chronological order. Why do you think it has changed in the manner it has.
Determine the capitalized cost of $1,000,000 at time 0, $125,000 in years 1 through 10, and $200,000 per year from year 11 on. Use an interest rate of 10% per year. Show the standard notation, interest factor formula and solution
The natural rate of unemployment is
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