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Write a well constructed double spaced 12 point Times New Roman or Courier New font 4 or 5 page typed essay on the topic below. Go step by step through the topic, and make sure you address all of the questions presented in order. Draw your AD-AS graph legibly on a separate (5th or 6th) page, and label it perfectly. To draft your essay, outline your response first. Write a first draft. Describe the topic and your response to someone else, and inquire about whether it makes sense and flows well. Edit your first draft, taking into account your reviewer's comments. Edit your second draft for grammatical errors, reading from the last sentence up to the first.
Final Exam Essay Topic:
Consider a state of the national economy in which actual output is less than the economy's full employment level of output. Draw an AD-AS graph reflecting such a condition. Is this short run equilibrium sustainable? Why or why not? What policy initiatives would Hayek and Keynes have suggested that national planners implement to cure such a condition. Describe the economic self correcting mechanisms which will direct the economy toward a long run equilibrium. Describe some of the fiscal, monetary and structural policy initiatives national planners might employ to direct the economy toward a long run equilibrium. Add to your AD-AS graph to reflect the effects of such a correction, and identify the eventual long run equilibrium. If national planners were to implement a successful structural policy change which removed legal constraints on technological innovation, what would the expected long run effects be? Add to your AD-AS graph to reflect the effects of such a change.
According to the Bureau of Labor Statistics, the distribution of consumer expenditures. If the negative income tax rate is set at 50 percent and the income floor is set at $5,000, a family that earns $3,000 would have a total income (including the in..
Differentiated goods are NOT a feature of a:
Suppose that in the United States corn production uses land and labor, while beer production uses capital and labor. Labor is mobile between the corn and beer industries, while land is specific to the corn industry and capital is specific to the beer..
"The principle of the invisible hand asserts that self-interest behavior on the part of resource-owners leads inevitably to chaos" true or false, why?
Suppose that initially the money supply is 2 trillion the price level equals 2 the real gdp is 4 trillion in base year dollars and income velocity of money is 4 . Then suppose that the quantity of money in circulation remain fixed but the income velo..
Suppose that you learn that a friend recently received a substantial inheritance. Your friend was given two choices: 1) wait 10 years and receive the inheritance or 2) receive the present value of the inheritance (using a 3% discount rate) now. Your ..
What is likely to be the effect of such increase in government expenditure on the budget balance for the government and on national debt if there are no other policy changes?
The government releases a report saying that drinking coffee makes you live a longer, healthier life. At the same time, we discover that a very bad winter has killed most of the coffee plants in Brazil. How will these two changes affect the equilibri..
Ginny is working for a marketing firm making $50,000 per year but considers starting her own marketing company. Ginny has determined that to launch the business, she needs to invest $80,000 of her own funds. which means that she will have to quit her..
In countries such as Zimbabwe, which had problems with high inflation, the increased use of another country’s currency (such as the U.S. dollar or South African rand) became common. Why do you suppose this occurred?
q. an economy has the following consumption functionc200 0.8 dithe government budget is balanced with government
lisa has a linear budget constraint and typical convex indifference curves associated with food and "all other goods." suppose that lisa is given $50 worth of food stamps, which can only be used for food, Draw lisa's budget constraints, with an witho..
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