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a.) Suppose your local Congress representative suggests that the federal government intervenes in the gasoline market to stop runaway price increases. Would you say that this view basically supports the Keynesian or the Monetarist school of thought? Why? What position would the opposing school of thought take on this issue? (Be brief -- you can answer this in 2 or 3 brief paragraphs).
(b.) Any change in the economy's total expenditures would be expected to translate into a change in GDP that was larger than the initial change in spending. This phenomenon is known as the multiplier effect. Explain how the multiplier effect works.
(c.) You are told that 90 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that equals $20 billion.
Frank owns a soda fountain and sells milkshakes. he sells 50 milkshakes per day for $5 each. his daily cost is $290, of which $30 is fixed cost.
The manager of a corporate division faces possibility of an audit each year. She prefers to spend time preparing if she will be audited;
Raising chickens requires several types of feed, such as corn and soy meal. Consider a farm in the former Soviet Union. Try to describe how dicisions on the number of chickens to be raised, and the amount of each feed to use in raising them, were ..
Barney retired from the Marlin Corporation where he worked for 25 years. Barney elects to receive his retirement benefits as an annuity over his remaining life, resulting in annual payments of $15,000.
Suppose that inflation is 2 percent, the Federal funds rate is 4 percent, and real GDP is 3.00 percent below potential GDP. According to the Taylor rule, in what direction and by how much should the Fed change the real Federal funds rate?
Illustrate what other economic factors are affected when taxes are raised or lowered, and how are they affected.
What is the impact of this on the revenues of the networks also why.
If Ron is lazy, he will surf the Internet all day, and he views this as a zero cost opportunity. However, Ron would view working hard as a "personal cost" valued at $1000. What fixed percentage of the profits should you offer Ron? Assume Ron ca..
A share of the common stock of the company currently sells for eight times current earnings. Management and outside analysts expect the growth rate of earnings and dividends for the company to be 7.5 percent per year. Calculate the cost of equity ..
Explain why the following statement is false: If a firm's output is increasing and marginal cost (change in total cost divided by change in quantity) is rising, then average total cost (TC/Q) must be rising also.
Explain whether there is a relationship between inflation and unemployment and should government interfere and reduce inflation and unemployment?
A fast-food company spends millions of dollars to develop and promote a new hamburger on its menu only to find out that consumers won't buy it because they don't like the taste. From an economic prespective, the company should
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