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Suppose that the price of good X rises and the price of good Y falls in such a way that the consumers new optimal consumption bundle lies on the same indifference curve as his old bundle. Graph this situation. Compare the quantities demanded between old and new bundles. Now suppose that the consumers income doubles. graph this situation. is one or more of the goods inferior? If so which one is it and why is it considered inferior.
A Federal Reserve Bank has employed the economic consulting company to make a paper on how the use of money has changed over the past twenty years.
The U.S. Department of Education reported the following number of bachelor's degrees awarded now what is the annual arithmetic mean number of degrees awarded?
What is the structure for a firm with at least some ability to determine price? How are price and output levels determined rationally? Since price can, at least to some degree, be determined by the seller, is this firm sure to enjoy profits?
Calculate the output of each firm, the market price and the profits of each firm that correspond to the Nash-Cournot equilibrium. Calculate the output of each firm, the market price and the profits of each firm that correspond to the Perfect Nash-S..
Go to the Bureau of Economic Analysis on the Department of Commerce's Web site, and look up the latest new release for real GDP. Where are we in the business cycle What is the real GDP today What is the nominal GDP todayWhat is the difference between..
The federal government employs a budget plan over several fiscal years that results in significant increases in the national debt, with no relief or plans to deal with the problem.
The economy of the country of Upland is still recovering from a severe recession and still has an unemployment rate close to 9%. Assume that the government's only concern is to achieve full employment. 1. What type of fiscal policy would you rec..
The price elasticity of demand for senior citizens purchasing coffee from McDonald's is -5 while non senior citizens have a price elasticity of demand equal to -1.25.
Explain what could happen in the future with each of these trends below and come up with three(3) more trends not listed and do the same analysis for your three additions.
You are a factory owner who has just purchased a new machine for $5,000. Over the next year, it would have cost you $1,000 to rent this same machine. If the machine sells for $5,000 one year from now, what is the rate of return on this asset?
When price is greater than average variable cost but less than average total cost at the profit-maximizing level of output, a firm should continue to produce the level of output at which marginal revenue equals marginal cost.
If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same? What if productivity increases more than nominal wages
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