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Suppose the Federal Reserve announced that it would pursue contractionary monetary policy to reduce the inflation rate. Would the following conditions make the ensuing recession more or less severe? Explain.
a. Wage contracts have short durations.
b. There is little confidence in the Fed's determination to reduce inflation.
c. Expectations of inflation adjust quickly to actual inflation.
In the summer of 1997, Congress and president agreed on budget package to balance the federal budget. The contract," signed into law by President Clinton in August as the Taxpayer Relief Act of 1997,
While referring to the "EYE on YOUR LIFE" section on page 183 of the textbook, apply this concept to your life. Develop your own policy position on price floors and price ceilings.
Price discrimination occurs when a.the supply of the product is elastic b.a product's average cost is greater than its average revenue c.a product's average cost is less than its average revenue d.differences in a product's price reflect differences ..
Consider a firm that is a monopolist in the domestic market facing a demand curve given by p = 100 - q, but can also sell in the world market where there is perfect competition and the market price is 60. The firm is a price taker in the world mar..
(a) Will a monopolist's total revenue be larger with second-degree price discrimination when the batches on which it charges a uniform price are larger or smaller Why (b) How does a two-part tariff differ from bundling
Calculate the price elasticities of demand for A and B at P=30, 20 and 10. How does the elasticity change as you move down the demand curve?
Suppose the price of c increases to 2, while income remains constant and what happens to the consumption of c and h? Are c and h substitute goods, complementary goods, or neither?
Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency. 15) The fact that U.S. managers' salaries are substantially greater than tho..
Explain the relationship between AP and MP. Be sure to use graphs to help support your answer. Calculate the MP and the AP for each worker
Project labor authorization for January 2017 and What is the estimated budget for the recruitment exercise if the estimated cost of recruiting one employee during the period would be k1500.
What circumstances would the industry short run labour demand curve have the same elasticity as that of a representative firm in this industry? which of the four laws of derived demand are important here? explain your reasoning.
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?
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