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Define and explain an open and closed system. Provide an example for both. Explain the inner and outer flows of an open and closed system. Define and explain leakages and injections in an open system.
In the coordination failure model, suppose that consumers preferences shift so that they want to consume less leisure and more consumption goods. Determine the effect on aggregate variables in the good equilibrium and the bad equilibrium.
Under monopoly, what is the relationship between price and marginal revenue. At what point does the firm produce in order to determine the output level and price required to maximize profits. What is the overall constraint on the monopolist
Illustrate what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on these costs.
Elucidate the liquidity trap is presently stopping the Japanese economy from recovering.
Identify trends or other patterns in inflation within the an economy of your choice over the last five years using quarterly data from the Central Bank or other Government based Statistical agency websites as a source.
It has been argued that many of the problems with negative externalities - such as pollution, or the "tragedy of the commons" - could be better solved if there were clearly defined, protected and enforced property rights.
Illustrate what is an investment schedule and how does it differ from an investment demand curve.
Suppose that the currency drain ratio is 10 per cent of deposits and the desired reserve ratio is 1 per cent. If the Reserve Bank sells $100,000 of securities on the open market, calculate excess reserves after the first round. Calculate the money..
Suppose the company wants to set its price equal to full cost plus 30 percent. To determine cost, the company must estimate the number of units it will produce and sell in a year.
The table below shows the marginal utility a costumer would get by purchasing various quantities-What combination of the three products should be purchased in order to maximize utility?
Illustrate what is the cost of the same basket of goods and services in 2005.
Suppose a single parent can work up to 16 hours per day at a wage rate of $10.00 per hour. Various income maintenance programs have been developed to assure a minimum level of income for low-income families, such as Aid to Families with Dependent ..
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