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1) Suppose the federal budget deficit for the year was $100 billion and the economy was in a recession. If the economy had been at potential GDP, it is estimated that tax revenues would have been $60 billion higher and government spending on transfer payments $50 billion lower. Using these estimates, what was the cyclically adjusted budget deficit or surplus for the year?
2) How could the existence of an unemployment insurance system or other transfer programs have reduced the severity of the Great Depression?
Peanut butter and jelly are:
Everything else held constant, when the nominal exchange rate in units of foreign currency per unit of domestic currency decreases, the ________ domestic assets ________.
What is the Federal Reserve (Fed) all about? Which Federal Reserve District Bank is closest to you? Who is the current Chairman of the Fed? Should the Fed remain independent from political authority or should the President and Congress have a say in ..
The zinc also copper monopolists every set a price, believing that the other monopolist will not change its price. Conclude the equilibrium price of brass.
Illustrate what is price should Big Steel set to maximize its profits. Explain how much steel will Big Steel sell? How much will its competitors sell.
A firm facing perfect competition is known as a price taker and therefore cannot employ the use of _______?
The returns to education are 13.4% per year for the first four years of schooling (grades 1- 4), 10.1% per year for the next four years (grades 5 - 8), and 6.8% per year for education beyond eight years. What fraction of wages is due to human capital..
Managed care has had a significant impact on the delivery of behavioral halth services. This has influenced the way that the behavioral health industry conducts business.
q1. megan used to work at the local pizzeria for 15000 per year but quit in order to start her own deli. to buy the
If the government establishes a quantity subsidy on the consumption of a good, it means that the consumer has to pay for each unity of the good its price minus the subsidy. That is, the price of the good becomes, in the consumer’s point of view, p−s,..
Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s). Draw a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve.
Which of the following limits the ability of markets for insurance to distribute risk efficiently?
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