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Please write in some detail on all of the followings:
1. Aggregate demand and aggregate demand curve.
2. The three reasons that explain the downward slope nature of the AD curve
3. Please list some factors that shift the AD curve to the right or left
4. Please explain why the SRAS curve is upward sloped and LRAS curve is vertical
5. Please list some factors that shift the SRAS curve to the right or left
Suppose c = wL + rK and q = L 1/3K 1/4 and perfect competition in all markets. Find the demand for labor and capital and the supply of q. If p = 8, w = 1 and r = 2, find the quantity supplied and the profits.
The price elasticity of demand for hardback is 0.5 and the price elasticity of demand for paperback is 2. Suppose the publisher increases the price for hardback by 10% and decreases the price of paperback by 10%. Complete the following table. Does pr..
Illustrate money supply should the Bank of Canada set next year if it wants to keep the price level stable.What money supply should the Bank of Canada set next year if it wants inflation of 10 percent.
Which of the following is the best definition of the short run?
Research one case of trade restriction, implemented by any nation. Research your topic, using at least 2 sources, and write a brief report (approximately 2 pages) on your findings.
In 1870, the U.S had an average income of about #2758 and the U.K of about $3463. In 1999, the figures were $30,600 and $22,640, respectively. If each country grew at a constant rate over these years, in which year did the U.S. overtake the U.K. in t..
Graph the production possibilities frontier over one day for this restaurant. In the graph, you must identify the points where transfer of a worker from one job to another starts to take place, by showing the coordinates of the points.
what is the marginal cost for Apples-R-Us? show that Apple-R-Us marginal cost curve intersects average costs at average costs minimum?
In the market of identical firms, the market demand function is Q=1000-1000P. The marginal cost is the same for all firms, mc=0.28. Characterize what is the firm’s optimal output and price when there is a single firm in the market. Characterize what ..
Analyze the role of credit in our economy and how it influences the business cycle. In your answer, explain how the role of credit leads to the stability of our economy.
q1. suppose as in the federal income tax code for the united states that the representative consumer faces a wage
To maximize profit, should the firm lower its price, increase its price, or leave the price unchanged? How would you change your response if marginal revenue is $1.50? Explain your responses.
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