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Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model? What are the flows in the circular flow model?
If 46,000 units of a good can be sold at a price of $22 but 54,000 units can be sold at a price of $18, is the demand for the good elastic or inelastic? What is the elasticity coefficient?
How is this going to involve prices in the marketplace for New York City. Create sure to provide appropriate economic terms in your answers.
Which of the subsequent goods also services should be included in Fredonia GDP in 2009
If a central bank reduced inflation by 2 percent age points also to made output fall by 3 percent age points for 2 years
A farmer has a production function f(L) where the input is capital (L). The cost of this loan is L(1+i). The farmer also has an outside option (loan from family member) which generates a profit of A.
When a industry's marginal revenue product equals the income rate, marginal revenue also equals marginal cost.
Demonstrate and explain the full process illustrate what happens when the central bank increases their long run target for inflation.
What are the short-run equilibrium values of the price level, expected price level, output, and unemployment rate. Illustrate what are the values of cyclical unemployment and unanticipated inflation.
What arguments can be made for charging a lower than the profit-maximizing price. What price from the available prices do you recommend.
Graph the following statements using demand curves only, elucidate how whether there is a change in demand
Discuss industry concentration, demand and market conditions and the pricing behavior of Kodak in the 1990's. Do you think the industry environment is significantly different today.
Elucidate why an upward sloping aggregate supply curve is thought to weaken the impact of a rightward shift of the aggregate demand curve generated by an increase in government spending in the short run.
Why do you think the FED evaluates the money multiplier when making decisions with regards to the money supply
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