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Let's consider the effects of inflation in an economy composed of only two people: Bob, a bean farmer, and Rita, a rice farmer. Bob and Rita always consume equal amounts of rice and beans.
In 2010, the price of beans was $1, and the price of rice was $3. If inflation is negative, enter your answer as a negative number.
1. Suppose that in 2011 the price of beans was $2 and the price of rice was $6. What was the inflation rate?
Describe how a correctional officer's pay is determined and how the salary is structured. Discuss what your chosen state can do to increase the supply of correctional officers.
Explain how did Lucas contribute to the development of the Keynesian economics. What was his concern with economic growth and development.
how should the british and french manufacturers of the concorde commercial airliner take account of the plane's development costs in determining the price to charge airline companies should they suspend production if they can.
Discuss and explain some example of supply and demand that you have observed in the real world. Be do not use the example for the questions below, use something else.
Suppose that there is an "inflation scare," that is, suppose market participants increase their expectations of future inflation.
As a manager what are various practical things you could do to raise utility for employees that also benefit the firm
A popular magazine reports that wrist watches are becoming the highest fashion craze. What affect will this have on the demand for watches, and what will happen to the price and quantity of watches sold on the market
Use an aggregate demand/aggregate supply diagram to show what effect was intended. what might happen if such a tax cut also shifted the aggregate demand curve.
The Hanover Manufacturing Company believes that the demand curve for its product is P = 5 - Q-Evaluate the wisdom of the firm's pricing policy
work decisions are based upon a comparison of priviate cost and the private benefit. The excludedable benefit of addtional work is measurable as the change in what options - income less transfer payments lost, gross income, net tax payments, adjus..
Calculate the growth rate of real GDP for each year from 1994 to 1997 and calculate the average annual growth rate of real GDP for the period from 1994 to 1997.
Atlantis is a small, isolated island in the South Atlantic. The inhabitants grow potatoes and catch fresh fish. The accompanying table shows the maximum annual output combinations of potatoes and fish that can be produced.
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