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Hurricane Katrina damaged a large portion of refining and pipeline capacity when it swept through the Gulf coast states in August 2005. As a result of this, many gasoline distributors were not able to maintain normal deliveries. The effect was further compounded as some communities imposed price cielings for gasoline. At the price controlled price level , we would expect to see a surplus of gasoline. the quantity demanded equal to the quantity supplied. an increase in the demand for gasoline. a shortage of gasoline.
"The current chairperson of the FED is Janet Yelling and she oversees an entity that is strongly influenced by politics and politicians." Do you agree? Why or why not? Be specific and limit your response to one paragraph..
Elucidate what would be the immediate and long run effects on c, k, and y. Explain by drawing the path of these variables. Consider that you impose the new saving rate.
Suppose Congress is able to reduce its budget deficit permanently. Using the growth model, graphically illustrate the impact of a permanent deficit reduction on the steady-state capital-labor ratio and the steady state level of output per worker.
Ten equal annual deposits, $A, are followed by 5 annual withdrawals. The first withdrawal of $12,000 is made at the end of year 11 and each subsequent withdrawal increases at the rate of 8% per year over the previous year’s withdrawal. Which of the f..
Quotas and tariffs can: Macroeconomics is:
Suppose as in the federal income tax code for the United States, that the representative consumer faces a wage income tax with a standard deduction. That is, the representative consumer pays no tax on wage income for the first x units of real wage in..
Write down an expression π(q ) for profits as a function of q. Find profit-maximizing choice of q for Smith and corresponding price and profit.
If American cheese also cheddar cheese are substitute afterward which of the following would increase the demand for cheddar cheese.
Write the economic analysis section of a business proposal. This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles
With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combination of resources in producing those loaves is 6 units of labor, 8 units of land, 2 units of capital, and 1 unit of entrepre..
How these earnings differences have changed over the past half century, as well as what factors are responsible for these changes.
What is the annual worth of an asset that costs nothing and gives you benefits of $3 in years one through 10? Assume your MARR is 20%. Show work please
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