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Which of the following will NOT cause a leftward shift in the? Long-Run Aggregate Supply? curve?
A. a net outflow of human capital
B. a reduction in government spending
C. a reduction in the amount of oil
D. a reduction in the amount of capital
Consider a consumer with preferences defined over x and y. Is it possible that they would choose to consume some of both commodities when their income is I but would choose to consume only x when their income is I’ > I? If so, depict such a case. Oth..
Primacy effects tend to occur when. DeGroot’s “stock market scam,” in which multiple predictions are sent to different potential victims, works because of —————.
Elasticity is a measurement of how much a change in price of a product or service will affect a change in the quantity demanded or supplied of that same product or service. The product or service can be unit elastic, inelastic, or elastic. Why is the..
Game Theory (Stag-Hunt Game): N players go hunting; each can choose to hunt either stag or hare, so the set of actions available to each player is {S,H} (S stands for hunt stag, H stands for hunt hare). If all N players hunt S, then each gets payoff ..
The Gorgonzolan central bank puts 5,000,000 guilders into circulation and each of the commercial banks holds 20% of deposits. Assume the public holds no currency. Initially all of the money is deposited into First National Bank. Show the T-account fo..
Calculate the range, variance, and standard deviation for this data series. Which measure does the best job of describing the dispersion in this variable.
critically discuss the pros and cons of this contractual arrangement vis-a-vis the alternative of outsourcing the teaching to an outside fi rm.
Assume that health production is subject to diminishing returns and that each unit of health care employed entails a constant rate of iatrogenic (medically caused) disease. Expalin why would the product of health function eventually bend downward.
Using an aggregate supply/aggregate demand model illustrate and explain the short run effects of decreasing government spending (assuming you began in a short run and long run equilibrium).
Show that for 3k/4 > f > k/4 a monopolist would provide products at both end points but the efficient solution is for a single product. Explain why the monopolist has excessive incentives to introduce the second product.
The following sets of statements contain common errors. Elucidate and identify each error.
Illustrate what do you think would be the short-run impact on the firm's production.
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