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For each of the following, explain whether it shifts the short-run aggregate supply curve, the long-run aggregate supply curve, or the aggregate demand curve (or more than one of these).
a. Households decide to save a smaller share of their disposable income. b. There is an 8-week strike in the steel industry. c. A drought in the Midwest causes poor wheat harvest. d. The labor force participation rate increases.
The demand curve for a good is very unlikely to be perfectly vertical because A) scarcity and limited income restrict the ability of consumers to afford goods as they become very expensive. B) as the price of a good rises to high enough levels, the ..
Mr. and Mrs. Ward typically vote oppositely in elections and so their votes "cancel each other out." They each gain two units of utility from a vote for their positions (and lose two units of utility from a vote against their positions). However, ..
How does a laissez faire economy make the decision about what goods and services will be produced Lawmakers in government vote on what will be produced or else.
Many states provide firms with an "investment tax credit" that effectively reduces the price of capital. In theory, these credits are designed to stimulate new investment and thus create jobs. Critics have argued that if there are strong factor
Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees?
Assuming that input prices do not vary with the level of output, does this production function display economies of scale? b.The firm is producing in the short run with capital fixed at 9 units. The fixed costs of the firm are $1000 in the short ru..
heidleman industries is considering two types of materails for roofing its warehouses. epdm is an elastomeric polymer
During the reading of research data collection tool I select the scanner data system due to the saving and targeted coupons first hand and saving money on discounted items and various products throughout the store .The drawback is when potential ..
just bikes inc. sells tricycles in partially-assembled and fully assembled forms. parents who assemble their own
If the demand for a good falls by less than the supply of the good rises, then equilibrium price will and equilibrium quantity will . Decision making "at the margin" means making a choice based on of a decision.
Suppose that consumers become pessimistic about the future health of the economy. What will happen to aggregate demand, output, and employment in the short run. Use the AD/AS figure to illustrate.iii) Considering the macroeconomic effects of pessi..
What do you see as the basic values that underlie this approach to solving the access to care problem? Do these values align with specific political perspectives?
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