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For the people around here this extra million dollars of government spending means 42 direct jobs and, depending on the employment multiplier you prefer, another 120 or 160 indirect jobs. In the bush. On the booming grounds. In the drugstore." Per million dollars, the magnitude of the employment multiplier is
a) 42
b) above 42 but less than 162
c) between 162 and 202
d) more than 202
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, explain how much output must the firm produce to break even?
1.the three functions of money area.unit of account double coincidence of wants and barterb.unit of account double
Define the four Market Models that we discussed in this course. Give an example of each. In your opinion is onebetter than the other and why?
If congress and the president decide an expansionary fiscal policy is necessary, what changes should they make in government spending or taxes what changes should they make if they decide a contractionary fiscal policy is necessary
Inflation is a a term that is widely used in economics. What happens when there is an Increases in the rate of inflation
In other words,if we ask how much demand or supply changes in response to a changein price, we must be clear about how much time is allowed to passbefore measuring the changes in the quantity demanded or supplied.
Suppose that Al, Beth, Carol, David, and Ed receive incomes of $500, $250, $125, $75, and $50, respectively. Create and interpret a Lorenz particular level of total income.
When you are a manager for a MNC in a foreign country do you interfere with local customs such as mistreatment of women and use of 10 year old children as child labor, or do you respect the local customs and traditions
Define economics. also explain the use of studyingeconomics as a subject.Q.2. Explaimn the assumption of law of diminishingmarginal utility. also give the exceptions of this law ofdiminishing marginal utility and show the pratical importance ofthis l..
Keynes's theory of employment and output 1. output and employment determine aggregate demand 2. output and aggregate demand determine employment
Provide an example of how fiscal also monetary policies compliment or work against each other.
Compute the price or output combination and the total economic profits which would result if competitors offer clones which make the QuickerBetter market competitive.
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