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Classical economics and Keynesian economics
Compare the ideas of the Classical economists with the ideas of John Maynard Keynes, and explain what kind of revolution the Keynesian revolution was?
Begins with the economy at potential GDP, a war in the Middle East pushes up energy prices temporarily. The Fed expands the money supply to accommodate the inflation.
For ever of the situations, decide whether Al has increasing, constant, or diminishing marginal utility.
Suppose you are provided with the following production relationships, where the input is fertilizer (pounds per acre) and the output is rice (cwt per acre). Using graph paper, please graph AVP, MVP, and MFC
Assume the firm raised the price to $4.00 while increasing the advertising expenditures by $100. Would this be beneficial. Explain. Illustrate your answer with the demand schedule.
Illustrate what would you expect to happen to the total expenditures on good X.
Human service interactions in terms of macro systems-communities and organizations. Empowerment is basically a process to assist people groups, families and communities, individuals, to use their strengths to overcome their challenges.
Explain how each of the following scenarios would cause the aggregate demand, short-run aggregate supply, and/or long-run aggregate supply.
Illustrate what can you infer from this data about the rate of labor productivity growth in the US economy during this period.
Use the data in the table to the right to answer the following questions. What is the external cost per unit of production? What level is produced if there is no regulation of the externality?
Illustrate what factors shift your demand for goods . Give an example of how a demand determinant shifted your demand for a good.
Determine the profit maximizing level of output and price. Is this long run equilibrium? According to the theory of monopolistic competition, do you expect entry or exit taking place in this industry?
Discuss the effect of each of the following on the quantity demanded or the demand for new motor homes.
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