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A recent news story reported that OPEC is expected to decrease the supply of oil next summer. Summer is traditionally a time of increased demand for oil because of the many families driving and flying to vacation sites. What would be the combined effect of these two events on the summer market for gasoline?
How many additional watches can be produced by an extra hr of labor? As a profit maximizer what price and output should the firm set? Is production capacity fully utilized? What contribution does this product line provide?
Discuss how is it possible to change society, for Marx, through using relationship between economy on the one hand and the political environment on the other.
Explain graphically and verbally what happens to the market in the short run and in the new long run equilibrium if factor prices and demand are assumed to remain the same as before.
Suppose the annual inflation rate is at 2% and 8.5% of the labor force is currently unemployed. If you were on the Fed's Open Market Committee, what action would you prescribe? How would this affect the economy, the inflation rate, and the unemplo..
Forecast the data for 2000 again in problem 1 with exponential smoothing with w=0.3 and w=0.7. Compare RMSEs for moving average and exponential smoothing forecasts to answer if this is a better forecast than the moving average?
What is an efficiency wage How might payment of an above-market wage reduce shirking by employees and reduce worker turnover How might efficiency wages contribute to downward wage inflexibility, at least for a time, when aggregate demand declines
Describe the difference between "stock variables" and "flow variables" in macroeconomic models. Of the following variables: aggregate income, aggregate wealth, aggregate investment, the aggregate money supply, government budget deficit, and govern..
Gentleman Gym just paid its annual dividend of $3 per share, and it is hugely expected that the dividend will raise by five percent per year indefinitely.
How much revenue does McBurger currently earn based on the information above and is McBurger maximizing its revenues
What is the Exy and what does that number mean and what is the relationship between these two goods - What would happen to total revenue with the price reduction
At what sales/output level will marginal costs (MC) reach a minimum and estimate the value of TVC for sales/output level 250,000 units, and calculate the 95% confidence interval for your estimate.
What are the equilibrium price and quantity? How much revenue do kumquat producers receive when the market is in equilibrium? Draw a graph showing the market equilibrium and the area representing the revenue received by kumquat producers.
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