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How have you responded to increases in the price of gasoline over the past few years? How would you respond if the price of gasoline doubled over the next two years? What alternatives do you have for buying gasoline? Could you change to zero consumption of gasoline in the short run? In the long run? In the short run, when the price of gasoline increases, what happens to the income you have to spend on other goods? Try to use concepts seen in this unit such as budget constraint, income and substitution effects, etc. in your answer
The Australian government administers two programs that affect the market for cigarettes. First, media campaigns and labelling requirements aimed at making public aware of the dan
P2 and P3 play with a penny. P1 picks between same (S) and different (D). After observing P1's choice, P2 and P3 get to picked Simultaneously independently either head (H) and tail
Q. Show the analysis of cross model? We can divide our analysis of cross model into three sections: Aggregate demand. Aggregate demand is a major component of cross mo
concept of static and dynamic multiplier
A small country can import a good at a world price of 10 per unit. The domestic supply curve of the good is S = 20 + 10P The demand curve is D = 400 – 5P In addition, each unit of
assessment of interest rate in the economy of south africa, unemployment
Quantity Equation-Has this theory worked? Why or why not?
An economy's IS and LM curves are given by the following equations: with Y indicating output (income), c indicating the marginal propensity to consume, I investment, G gove
A 90 o perfectly conducting corner cube reflector has a shortdipole (oriented in the z-direction) placed at a distance d from the vertex. The antenna is fed by current Io. a) F
GKX Industries expects sales of its hydraulic seals (in inch and metric sizes) to increase according to the cash flow sequence $70+4k, where k is in years and cash flow is in $1000
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