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Q. Pretend you were hired to lead the President's Council of Economic Advisers in 2009. Using the macroeconomic statistics provided in the National Economic Trends June 2012 report from the Federal Reserve engrave a well-supported two-page Executive Summary to the President of the United States on the state of the economy as you evaluate it in 2009 and what you believe his fiscal policy should be at that point in time.
Using two of your three pages, include the following in your analysis:
• 5 Key statistics. Explain why you selected these statistics and explain their trends. (Caveat - PPI, CPI, and inflation rate are all similar, so you may use only 1 of them as part of your 5 key statistics.)
• Describe the Discretionary and Non-discretionary Fiscal Policy you would advise
• Describe cuts and/or stimulus and what to target
the quantity demanded of Cake is 100 slices and the quantity demanded of cheese bread is 100 pieces.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Why would we expect that the price elasticity of demand for the product of an individual firm would typically be greater than the price elasticity of demand for the product overall.
If policymakers want to reach full employment while maintaining balanced trade, what combination of monetary and fiscal policy should they use.
Now Assume the theater increases the number of its ads to 250. Should the theater increase its cost following this ad campaign.
Price elasticity of demand is 1.5 and a firm raises its price by 20 percent the quantity sold by the firm will ceteris paribus.
In economic terms, when the wage rate increases we sometimes see the number of hours worked by individuals decrease now.
Calculate the cross-price elasticity of demand. Given the elasticity you calculated, did it make sense for supermarket to raise its price.
What is Wirelesses' producer surplus from sales for each low-demand as well as consumer.
Does the production technology exhibit increasing/decreasing/constant returns to scale.
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
Graph all three curves. What is the relationship between the marginal-cost curve and the average total cost curve
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