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Answer the following questions about Keynesian vs. Classical view of economics
A. Marginal propensity to consume (MPC) is the slope of the Keynesian AEcurve. Using an equation and words, describe the relationship between MPCand the Keynesian spending multiplier.
B. Explain why the events of the Great Depression were inconsistent with the classical view of the economy.
C. Use the AD/AS model to compare the effects of expansionary fiscal policy at two points on the AS curve: the Keynesian section and full employment. Use graphs, and label everything completely.
Suppose firms compete in quantities. How much does each firm sell in Cournot equilibrium.
Suppose velocity is constant, the growth rate of real GDP is 3% per year, and the growth rate of money is 5% per year. Calculate the long-run rate of inflation according to the quantity theory of money. Suppose the growth rate of money rises to 10% p..
A company uses 20 work units and 30 units of capital to produce 4,000 units of product. In this combination the marginal product of labor is 50 and the marginal product of capital is 40. The price of labor is $ 30 and the price of capital is $ 20. to..
Describe how a developing - emerging economy can benefit from trade with a wealthy country even if it has no absolute advantages.
Compare an owner's personal liability for debts of a business organized as a sole proprietorship, general partnership, limited partnership, LLP, LLC, and S corporation.
Steps that a government take to ensure that sustainable development is always considered in assessing which major economic projects or investment proposals to accept
Jacob consumes 2 goods, coffee and cigarettes, 3 cigarettes can be traded for 1 cup of coffee in a free market, or 1 cup of coffee can be traded for 3 cigarettes, Jacob initially has 12 cigarettes and 5 cups of coffee. Find an equation that gives eve..
Elucidate how and why the unemployment rate fluctuates with the inflation rate as is depicted in the Short-Run Phillips Curve.
Draw a supply and demand graph to illustrate what will happen to the rental price of an apartment after the imposition of rent controls. Do you think this policy will benefit students? Why or why not?
A firm in Perfect Competition has a Total Cost Function: TC = 6Q^2 - 8Q + 12 with a current P=$6. What is the current Quantity and Profit or Loss? Will firms enter or leave the industry? What will be the long run Price and Quantity?
Think of some foreign products that are marketed in the United States. Have the foreign manufacturers used marketing that is sensitive to U.S. culture? Provide some specific examples.
Identify a cultural practice that is considered acceptable in one country but is not acceptable in another. What are some cultural considerations that affect the resulting ethical perspectives in differing cultures?
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