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Describe (briefly) the trends and fluctuations in the unemployment rate in the United States from 1949 through 2013. In which periods was the unemployment rate above average and in which periods was it below average?
One of the fans at this game believes in the Law of Small Numbers. She has the wrong model of how likely Curry is to make a basket. Here’s how her model works. The fan imagines that there is a deck of 4 cards. When Paul is Hot, 3 of these cards say “..
The late 1990s in Canada was characterized by substantial economic growth with little inflation; that is, potential real GDP increased with little, if any, increase in the aggregate price level. Describe what must have been happening to Canadian aggr..
Florida Citrus Mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the conditions below. What are your predictions? For each part, sketch a ..
Two firms constitute the entire doghouse industry. One has the long-run cost function c1(y) = 3 + 4y 2/3 for y > 0 and c1(0) = 0, and the other has the long-run cost function c2(y) = 10 + y 2/10 for y > 0 and c2(0) = 0. If no new firms can enter the ..
If the? long-run average cost curve continuously slopes upward as output? rises, minimum efficient scale would be
What level of money supply should the central bank set next year if it wants an inflation rate of 4%? What growth rate should the central bank set for the money supply if they want inflation to be steady at 2% per year?
If the government uses a tax to get producers to internalize their externality, what is the net price received by producers.
What could the federal reserve system Fed do in 2000 in order to bring the economy back to full employment ? What did the Fed actually do? explain
Assume in this country they save 20% of their income, population grows at 3% every year also depreciation of capital occurs at 10% every year.
What are we saying when we describe a market as being "in equilibrium"? Changes in market conditions will always trigger one of two disequilibrium conditions. Describe one of them, and tell how the market would react to this disequilibrium.
Is the model heteroscedastic? Check the KB results to determine your answer.
Analyze the dynamics of supply and demand to anticipate market equilibrium. Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies
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