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What is dynamic inconsistency? Explain intuitively how it might arise in the case of the short-run tradeoff between inflation and unemployment.
what segment of the LAC curve are these producers producing?
Explain how the market system provides a strong incentive for technological advance and creative destruction. Within your answer, provide 3 virtues of the market system. How does the circular flow model fit into this discussion. Please be specific..
an economy is faced by the exhaustion of an important natural resource at a time when it is introducing improved technology.using a diagram how these events will affect the economy production possibility curve
What is the probability that an individual drawn from this distribution holds public health insurance? What type of probability is this?
A company is considering purchasing a fleet of delivery vans which are available with either a diesel or gasoline fueled motor. The gasoline powered van has an initial price of $29,750, the diesel powered one costs $32,250. Both vehicles have a sa..
In the Cartesian formulation from the European enlightenment, man is separate from, and superior to, nature.
What are the equilibrium values of net exports and the real exchange rate if the world's real interest rate is 8%, but domestic government purchases (G) are reduced to 100, all else equal. what will national saving (S) and investment (I) be for thi..
Lenny's, a national restaurant chain, conducted a study of factors affecting demand. The following variables were defined and examined for a random sample of thirty of its restaurants:
To what extent does the H-O-S theory and the Stolper-Samuelson theorem contribute and/or fail to contribute to our understanding of the impact of trade?
Suppse a consumer utility derived from consuming banana is described by the function U=10X+3X^2-(1/3)X^3. Compute marginal utility. a. Make a table showing total and marginal utility for X from 0 to 7 units. b. Would this individual ever choose to c..
elizabeth M. suburbs makes $200 a week at her summer job and spends her entire weekly income on running shoes and designer jeans, because these are the only two items that provide utility to her.
Assume the government cuts its purchases by $150 billion. As a result, the budget deficit is reduced by $40 billion, private domestic saving decreases by $10 billion, disposable personal income decreases by $80 billion
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