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Suppose that the unemployment rate is 6.5% and current-dollar GDP is $1,45 billion. Using Okun’s Law, what would be the potential GDP number corresponding to a natural unemployment rate of 5.5%? What would be the dollar value of the recessionary gap
Name the circumstances which indicate an oligopolistic market structure and discuss a real life example of such a market structure. What are the most significant differences between oligopolistic and perfect competition from the consumer's point o..
An economy begins in long-run equilibrium and then a change in government regulations allows banks to start paying interest on checking accounts. Recall that the money stock is the sum of currency and demand deposits, including checking accounts
explain why the typical college student knows more about the differences between various brands of pizza then about the debate on national health care, even though health care is way more important then pizza.
Assume that economy starts at equilibrium and the mpc = 0.75. Find the effect of a $300 increase in government spending once all the rounds of multiplier process are complete?
Choose a product you have purchased in the past month from a clothing or shoe store. Describe how each of the 4 factors contributed to the elasticity of the good. Is the product considered elastic, inelastic, or unitary elastic
Whenever a beer company rise its advertising budget 18 percent, the demand for its beer increased 28 percent. What is the advertising elasticity for the company's product.
Explain how did the Mexican peso crisis differ from the Russian ruble crisis. What was the role of the IMF in these two currency crises.
Illustrate what Information do you require to perform a marginal analysis to identify the profit-maximizing output.
Find out the income elasticity of demand. Elucidate whether gas is a normal or inferior product.
Supply-side economists and monetarists were very worried about the plan and the support it received from the Fed. What specific problems might a monetarist and a supply-side economist worry about?
The total costs of a firm under perfect competition is given by the equation TC = 5,000 + 4Q + 2Q^2 and the market price is $100 per unit.
You work for an unemployment agency that distributes unemployment checks to unemployed workers in your state.
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