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Short run and the long run
Economists look into at the differences between the short run and the long run in macroeconomics. How might knowing this affect you as the manager of a large firm?
Draw a bowed-out production possibilities curve (PPC or PPF) with an aggregate measure of medical services, Q, on the horizontal axis and an aggregate measure of all other goods (and services), Z, on the vertical axis.
Briefly explain in words the sequence of changes that occur as the two economies move from no trade to free trade.
Explain whether every of the following transactions involves spot exchange, contract, or vertical integration.
For each of the following events, state whether the aggregate demand curve would increase, decrease, or stay the same.
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Cartels are a form of anti-cooperative activity. Critically examine the factors that may facilitate the establishment, operation and detection of cartels.
U.S. industry responded to the undeserved domestic leisure travel market that existed in the early 1900s with a second wave of low cost carriers (LLCs)
Suppose that deterioration in the education level of the U.S. population reduces the marginal product of labor.
Compute the changes in inflation rates, unemployment rates and the RGDP growth rates.
Illustrate what is the arc cross elasticity of demand among Future Flight's and Soaring Free's frisbees
Compute the long-run impact of a permanent rise in money supply versus a permanent tax cut.
Elucidate tools used to pursue expansionary and contractionary fiscal policy.
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