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In "The Consequences of Mr. Keynes," James Buchanan and Richard Wagner argue that the "unwritten fiscal constitution" of an annual government balanced budget helped restrain the growth in government, but the Keynesian argument for a balanced budget over the business cycle has freed government and politicians from that restraint. As a result, we now see the problem of "democracy in deficit." Based on the reading and the discussion in class, explain their reasoning. Do you agree? Why?
Consumers buy from the lowest price firm, and the highest price firm sells nothing. If the firms pick the same price, they split the market demand equally.
What s the general pattern of the US income distribution over the last century. Explain about the timing of the changes.
For this assignment you need to evaluate one idea and how you would implement your stimulus strategy. Food for thought
Illustrate what is the maximum price of capital at which the firm will still make nonnegative profits.
After allowing for sleep and personal care, she has 70 free hours each week and must split these hours between work to earn money.
Now, suppose that following the supply and demand changes in (a), a substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
Elucidate what data or other factors that monetary policy makers, firms, and workers might analyze in attempting to determine if the decline in the real exchange rate is temporary or will persist.
The mission must comprise APA format references on the final slide and in-text references on the slide where information is presented.
If 150 million workers produced America's GDP in 2010, according to the "World View" above, how much output did the average worker produce?
many supply shipments to retailers are interrupted during a natural disaster. Assuming that the law is strictly enforced, illustrate what are the economic effects of the price gouging statue.
The rate that does aggregate output, aggregate investment, aggregate consumption as well as per- capita income grow in this steady state.
Graphically elucidate the derived storage function and carefully explain and show how you determined the location of the two intercepts of the function.
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