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1. Explain why relatively flat as opposite relatively steep labor demand curves are more consistent with the empirical observation that there are relatively minor changes in the real wage rate over the course of the business cycle.
2. Is sustainable long-run equilibrium always reached when the AD and SAS curves intersect? Why or why not?
3. If the equilibrium real wage remains constant, what happens to the nominal wage when the actual inflation rate exceeds the expected inflation rate?
4. "In the steady state, the government benefits from inflation." Explain.
5. How are presidential election outcomes related to the performance of the economy?
Some observers say that changes in the past few years have eroded the monopoly power of local cable tv companies, even if no other cable firms have entered their markets. What are these changes? Do these monopoly firms still have monopoly powers
Substituting this value into the price elasticity of demand formula we obtain ∈=
In a perfectly competitive industry, entry of firms will occur until
A function of government is to regulate natural monopolies. Describe what is a natural monopoly and why it needs government regulation
How is net national product (NNP) calculated a.Saving is subtracted from the total income of a nation's citizens. b.Saving is subtracted from the total income of a nation's permanent residents. c. Depreciation losses are subtracted from the total ..
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class.
health administration question answer each of the questions below note that eachquestionis of equal weight and that
even before the metals and manufacturing companies described earlier u.s. railroads in the nineteenth century were
What percentage would the quantity demanded of corn increase?percent.
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
describe the market structure of perfect competition in terms of number of producers, control over price by firms in this market, type of product in terms of differentiation, barriers to entry into this market, and whether economic profit can be..
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