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Explain and show graphically using AD-AS diagrams how each of the following would (separately) affect the economy first in the short run and then in the long run. Assume that Canada is initially operating at its full-employment level of output, that prices and wages are eventually flexible both upward and downward, and that there is no counteracting fiscal or monetary policy.
a. The Bank of Canada increases interest rates.
b. A stock market boom raises the wealth of Canadian households.
c. The federal government reduces Employment Insurance payments.
d. More Canadians decide to retire early and leave the labour force.
Explain when prices are set by the sellers and are not determined by negotiation between the buyers and the sellers.
an economy has a total amount of 100 units of a good to allocate between two persons-amanda and britney. amandas
As a small investor, can I invest either directly or indirectly - in mortgages? What kind of risks would I be undertaking if I did? Are there any other financial instruments that have similar risks? Given the current economic situation, would you inv..
List three examples of price floors or ceilings, and identify the "winners" and "losers" that result from these interventions.
A firm has a production function Q = F(K,L) with constant returns to scale, where K is units of capital and L is units of labour. Input prices are r = $2 per unit of K and w = $1 per unit of L. When it produces 5 units of output, it uses 2 units of c..
Measuring GDP The following table shows data on consumption, investment, exports, imports, and government expenditures for the United States in 2009, as published by the Bureau of Economic Analysis. All figures are in billions of dollars. Fill in the..
How has the advent of the modern corporation changed the likelihood that a firm's primary goal is to maximize profit? What other considerations have gained importance and may have replaced profit maximization as the primary goal of the corporation? C..
Galvanized Products is considering a new computer system for their enterprise data management system. The vendor has quoted a purchase price of $100,000. Galvanized Products is planning to borrow one-fourth of the purchase price from a bank at 15 per..
What market structure is used to benchmark allocative efficiency and why do we use it?Illustrate and explain using a diagram.Why and how do monopolistically competitive firms fail to achieve allocative efficiency? Illustrate and explain using a diagr..
How does the Average Total Cost (ATC) of the mines in Canada compared to the ATC of the Alabama mines? Sketch the ATC and Marginal Cost of the whole company (include all mines in the graph, the graph has to be approximate, it should give an idea of h..
Elucidate how on your diagram also calculate the profit maximizing output also price. Calculate the consumer surplus at the profit maximizing price also quantity.
Use examples to distinguish between the resource market and the product market in the circular flow model. As we read this unit, how does the circular flow model illustrate how our economy works? How does the circular flow model work? What are the tw..
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