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Draw and explain the continuum of precariousness that we developed in class. Explain why this diagram may only apply to certain people. What would the continuum look like for a different group of people?
The price level in the economy in 2007 and 2008 rose from 100 to 105. In 2008 and 2009, the price level increase from 105 to 110.25. How does the short-run Phillips curve forecast the unemployment rate will change as a result?
Which of the following is an example of a local monopoly as compared to a national or international monopoly?
Assume an economy without government and without trade. Suppose the Consumption function is given by C=100+0.8Y, whereas I=50. What is the equilibrium level of income in this case? What is the level of saving in equilibrium?
The labor abundant countries of asia have experiences rapidly rising wages since those economies liberalized their international trade policies. Does this observation match the predictions of international trade theory? Explain.
In August 2000, an account that pays 6% interest was opened with a deposit of $12,000. There was and will be no withdrawals or additional deposits until August 2010, when the first of four equal annual withdrawals are made. In order for the account t..
Do you agree with Seligman's position on the importance of Well-being? Do you agree that PERMA is what will make you happy?
A firm sells its product in a perfectly competitive market where other firms charge a price of $120 per unit. The firm’s total costs are C(Q) = 60 + 8Q + 2Q2. How much output should the firm produce in the short run? What price should the firm charge..
In a perfectly competitive factor market, a firm faces a(n):
After that he expects a further increase of 25% in the subsequent four years, so that prices at the end of ten years will have increased to 180% of the present level. Compute the inflation rate, f, for the entire ten-year period.
Write an essay about each of the IPE perspective has at its center a fundamental value or idea. What is the central idea of mercantilism, of liberalism, and of Marxism?
Use the sticky wage theory of aggregate supply to explain what will happen to output and the price level in the long run. What role does expected price level play in the adjustment?
Swagelok Enterprises is a manufacturer of miniature fittings and valves. Over a 5 year period, the costs associated with one product line were as follows: first cost of $30,000 and annual costs of $18,000. Annual revenue was $27,000, and the used equ..
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