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1) If a nation's real GDP has increased faster that its population over a period of time, then we would conclude that: real GDP per capita increased faster than real GDP population grew slower than real GDP per capita real GDP per capita increased slower than real GDP real GDP per capita must have decreased
2) Which of the following is a private transfer payment? Unemployment benefits received by newly laid-off workers The sale of used clothing at a thrift store The Social Security benefits sent to a retired worker A check for $250 sent by a parent to a daughter at college
Consider a price ceiling imposed on a monopoly that is set below competitive price. Make a diagram showing the monopoly equilibrium in this case.
Suppose that yi receives $ 60 per day as interest on inheritance and her wage is $25 per hour, and she can work a maximum of 16 hours per day at her job. draw her daily budget constraint.
Which of the following statements concerning the marginal-physical-product curve above is true? It can be determined from the marginal-physical-product curve shown above that A)marginal physical product reaches a minimum with the first worker.
Research the elasticity of beef and eggs in regards to price changes. Explain how do supply, demand, and price controls interact to affect equilibrium price of eggs
Suppose a new law establishes a minimum teacher salary that is 20 percent higher than the prevailing salary. How would you expect this law to affect the average quality of teachers and the taxes paid by the typical household?
Recently, a troubled bank borrowed $800 million from the Federal Reserve. Describe the impact this event had on the monetary base.
GDP only raise by three quarters of the expected amount. Illustrate what factors might be responsible for this situation.
Identify three methods for solving rational expectations models and using your chosen method, find the rational expectations solution for prices (p) and output (y).
Suppose the slope of the consumption function is 0.75 and there was an increase in income of $100. Calculate the increase in consumption.
Assume that the legal reserve requirement is 10 percent on all deposits. Suppose BoA has $200 million in checkable deposits, $30 million in reserves, $50 million in securities, and $150 million in loans. What is BoA's bank capital? Draw a balanc..
Determine absolute advantage and comparative advantage and explain why will resources specialize according to their comparative advantages?
Suppose you are reviewing an isocost graph. The axis on the graph shows capital units on the vertical axis, and labor units on the horizontal axis.
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