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Journal entry questions are related to the application of the key concepts you learn to the real-world economic issues. The questions contain key economic principles and ideas related to the Macroeconomics topics you are learning. Please feel free to express your perspectives and state how the economic principles and ideas affect your economic decision making process. You should note that there is a limit to the number of words for the Journal entry. You can only enter the maximum 400 words.
Title your Journal entry: Unit 2 Journal
Journal
Explain how does each of the following affect the aggregate demand curve?
Discuss how conservatives, liberals and radicals explain the causes of and solutions to poverty. what evidence do they use to support their view.
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Suppose that the production function for iPods isQ= 20K0.5L0.5. The marginal product of labor is 10(K/L)0.5, and the marginal product of capital is 10(L/K)0.5. Suppose that labor can be hired for $6, and capital can be rented for $9. If the firm ha..
Tom have only $60, and he want to spend it all on clothing (X) and food (Y), Price of clothing is $4. Find out the optimal values of both goods (Y*,X*) and Utility?
Discuss the various ways governments can handle externalities, such as noise from a local airport or a barking dog or building of commercial office space or an industrial building in a residential area? How does the assignment of property rights a..
Use an aggregate demand/aggregate supply diagram to show what effect was intended. what might happen if such a tax cut also shifted the aggregate demand curve.
QuadPlex Cinema is the only movie theater in Idaho Falls. The nearest rival movie theater, the Cedar Bluff Twin, is 35 miles away in Pocatello. Thus QuadPlex Cinema possesses a degree of market power. Despite having market power, QuadPlex Cinema i..
Draw a graph showing how output evolves over time, and explain what happens to the level and growth rate of per capita income and explain what happens to the economy over time and in the long run.
Illustrtae what will equilibrium GDP equal if taxes decrease 200? Why are the results different.
Elucidate the effect of this inflow on the rental price of capital in the United States and on the quantity of capital in use.
You have been Employed through a private consortium of South African orange growers to predict the impact on the price and output of oranges under the following situation.
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