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A diminishing marginal rate of substitution implies that indifference curves are
A. straight lines.
B. concave.
C. positively sloped.
D. convex.
q1. would you advocate monetary restraint or stimulus for todays economy? who would disagree with you?q2. why is the
If the Federal Reserve lowers interest rates in the United States, what do we expect to happen to US exports?
Be sure to label your graph carefully as well as accurately. What is the slope of the budget constraint.
A firm†TM s demand function is defined as Q = 30 - 2P. a) Use this demand function to calculate total revenue when price is equal to 10 and when price is equal to 11. b) What is marginal revenue equal to between P=10 and P=11?
Their banks are holding back credit so it is harder for businesses to invest and for consumers to spend
In terms of aggregate supply, a period in which nominal wages and other resource prices are unresponsive to price-level changes is called the A. long run. B. short run. C. very long run. D. immediate market period.
Consider a couple's decision about how many children to have.Assume that over a lifetime a couple has 200000 hours of time either work or raise children.The wage is RM10 per hour.Raising a child takes 20000 hours of time.
If the dollar is devalued against gold and the pegged rate is changed to $40 per ounce, illustrate what does this imply for the exchange value of the pound. Explain your answer.
A tax that results in a larger fraction of income being paid in taxes as income rises is a ________ tax.Answer regressive head progressive proportional
Explicate why the government expenditure multiplier is different from the tax multiplier.
The market for Banh Mi in Auckland CBD consists of 6 restaurants operating in monopolistic competition. Suppose that these firms face monthly fixed costs of $5,000 and marginal costs of $3. Draw the average cost and marginal cost curves for a represe..
Illustrate a firm in monopolistic competition that does not make a profit but rather a loss. Now illustrate how firm exit will change demand in the long run, allowing at least some firms to break even.
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