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Toby can produce 5 gallons of apple cider or 2.5 ounces of feta cheese per hour. Kyle can produce 3 gallons of apple cider of 1.5 ounces of feta cheese per hour. Can Toby and Kyle benefit from specialization and trade? Explain.
Find a relevant article from newspapers, magazines, etc. that is related to at least one of the Macroeconomic topics we have covered this semester. Summarize the article and comment on how the article is related to what (topics) you have learned in..
Show these data graphically. Upon what specific assumptions is this production possibilities curve based? What would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a lev..
In the United States, the capital share of GDP is about 3 percent, the average growth in output is about 3 percent per year, the depreciation rate is about 4 percent per year, and the capital-output ratio is about 2.5. Suppose that the production ..
Compare the advantages as well as disadvantages of fee for service payments and a DRG-based payment system
Hurricane Katrina may sting United State economic growth through choking energy supplies even as damages caused by the storm spur massive rebuilding and emergency government spending.
Illustrtae what is the difference among cost-push and demand-pull inflation.
Using the numbers given in the table below, calculate the Taylor Rule interest rate for 2005. What would the Taylor Rule suggest about actual U.S. monetary policy that year
The spreadsheet lists components of aggregate planned expenditure in the United Kingdom. The numbers are in billions of pounds.
Indicate whether each of the following statements is true, false, or uncertain, and explain your answer.
In each equation, Q denotes the number of travelers of each type who stay at the hotel each day, and P denotes the price of one room per day. The marginal cost of serving an additional traveler of either type is $20 per traveler per day.
What describes a tax that is assessed according to benifits received principle. Those who pay the tax recieve the benifits the tax provides or else.
Illustrate what will happen in the short run and long run to the world real GDP and the price level. Moreover, describe what policymakers could do after this has happened.
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