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Suppose an economy that is initially at full employment faces a substantial increase in the factor cost of production.
a. Discuss (with the aid of aggregate output market and money market diagrams) the short-run effect on output, unemployment, general price level and interest rate with a substantial increase in the factor cost of production.
b. Discuss (with the aid of an aggregate output market diagram) what kind of monetary policy can be adopted to restore the economy back to full employment equilibrium.
c. Suppose the problem you discussed in part (a) relies on the self adjustment mechanism instead of the discretionary policy proposed in part (b). Examine the possible impact of minimum wage on the self-adjustment mechanism.
Illustrate what should the U.S. Congress and the Federal Reserve do about it. Write your individual answers to both questions listed above together not each minimum 300 words in essay format in APA style.
The follow-ing ( multiplicative exponential) demand function is being used: QD = 6,280P. - 2.15A1.05N3.70 where QD = quantity demanded, in 10 oz: boxes P = price per box, in dollars A = advertising expenditures on daytime television, in dollars N = p..
Suppose that a monopolistic company faces the consumer demand curve. Find out the profit-maximizing quantity of the product.
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
A firm has $1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $50, and competes against 800 other firms in its relevant market.
Suppose that the carnival and the circus have both come to town, and are both o?ering free admission. You have 6 free hours to kill. Draw the BUDGET LINE that shows your options for how you can spend the day.
According to the rule for optimal input usage, a film should hire a person as long as her marginal income product is greater than her marginal cost to the company.
Elucidate a personal daily struggle that is an example of the law of noncontradiction and the challenges posed to your beliefs and decisions.
Calculate equilibrium level of income in goods market if i=10 also calculate equilibrium level of income in money market if i=10.
Explain why perfect personalized pricing is typically more profitable than menu pricing.
Calculate the internal rate of return and the net present value to determine the desirability of this investment.
A county is considering using a piece of park land for one of two alternative recreation projects.
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