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An important employment level is called full employment.
A. When is an economy said to be at full employment?
B. Why is the unemployment rate positive when the economy is at full employment?
C. Explain what the GDP gap is, in terms of full employment and output.
D. If the unemployment rate is below the full-employment rate, will the GDP gap be positive or will it be negative?
Which of the following rate measures the percentage change in price for a basket of goods and services consumed by a "typical" household --- the consumer price index?
Worker productivity is one of the most important factors that helps us determine the performance of an economy. Which of the following best describes productivity?
Describe, in details how a perfectly competitive industry determines the price and quantity. Also, explain the role of /te firm in this market regarding price and quantity determination. Show your answers utilizing a graph for the market as well as t..
Complete this statement by filling in the blanks with the words "increase" or "decrease": The entry of an additional firm in a mon. comp. market _____________ the profit per unit of output because entry ________ the price and ____________ the average..
Pick a state and compare it to Oklahoma’s Malpractice Caps, what are the state’s caps or limits on the amount of money that can be awarded to victims of medical malpractice cases. Give any details that tell why or how the state determined that amount..
elling price of another product Y in dollars per unit. The inverse delivery curve. Conclude whether X also Y are substitutes or complements.
On July 27, 2015, the Shanghai Composite Index fell by more than 8%. To preserve asset value, the Chineese government halted trading in some companies and in short selling. How did these actions impact the efficiency of the Shanghai stockmarket? Were..
What are two factors that can cause the nation's real GDP to increase in the short run? What are two factors that can cause the nation's real GDP to increase in the long run?
If the financial plan is believed to be extremely accurate, then the amount of financing would be
Consider a market with demand function D(p) = 1000 ? 10p and aggregate supply function S(p) = ? 200 + 20p if p ? 10 [and S(p) = 0 otherwise]. Compute the competitive equilibrium price and quantity, as well as the equilibrium value of consumer surplus..
Using the data from above: As price decreases from $1.00 to $0.70, demand is (elastic, inelastic, unit-elastic) ______________ and total revenue (increases, decreases, remains the same) ______________. As price decreases from $0.70 to $0.60, demand i..
Monetary theory examines the role of excess reserves (actual reserves minus required reserves) in influencing economic activity and Federal Reserve monetary policy. Viewed in the context of a single bank, excess reserves are difficult to measure. Exp..
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