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Using the broken window fallacy as described in "In The News" (p. 14 of Principles of Microeconomics),explain why some journalists, policy makers, and others proclaim that natural disasters are good for the economy in terms of eliminating old infrastructure and helping to create jobs. Do you agree or disagree? Provide specific examples to support your answers.
Derive the equation for the sort-run aggregate supply curve, given that the nominal wage rate equals 50. Compute the amount of short-run aggregate supply when the price level equals 2.0, 1.25, 1.0, 0.8, and 0.5. graph the short-run aggregate suppl..
Market demand is p = 540 - q and the market supply equation is p = 60 + 2q. Use this data for the following questions. (The question is in bold bellow) The competitive equilibrium is:? Consumer surplus at this competitive equilibrium is:?
Explain how through trade a country can consume at levels beyond the reach of its production possibilities. Why do countries place restrictions on international trade and What is the difference between a tariff and a quota?
Define the factors that shift the ppc outward during ww2
Please explain the price effect and explain what happens to Marginal Revenue and demand because of price effect.
Discuss the financial crisis and how the current state of capitalism impacted average Americans. Further, do you believe that there still is a middle class in the U.S.?
the only thing backing up a nations currency fiat money in the modern world is faith in the government issuing it. if
What will be the NPV for his investment
consider the following utility function uxy min 3x xy 2y. sketch the indifference curves and show where the corners
A growing number of businesses' including videogame developers, cigarette companies, soft drink producers, liquor marketers, and fast food chains are feeling the heat from government, the press, and society at large for encouraging harmful
. Show how the Fed would increase M1 by 1 million dollars by changing the reserve ratio. Show how the Fed would increase M1 by 1 million dollars through open market operation.
1.consider a monopolist that can practice first-degree price discrimination. assume that marginal costs are constant
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