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How might an economist gather empirical data to test the proposed relationship between money and the price level?
1) Economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy.
2) An economist would persuade the Federal Reserve to change the money supply to various levels, and observe the resulting changes in the price level.
3) Unlike researchers in the hard sciences, economists cannot study complex relationships using data.
4) An economist would look for data on past changes in the money supply, and note the resulting changes in the price level.
Suppose the following table records the total output and prices for an entire economy. Further suppose the base year in the following table is 2013.
What are the different uses of job analysis? How do you go about conducting a job analysis? What types of infornmation should be collected? What are some of the challenges of collecting this type of information?
Edmondson, A., & McManus, S. (2007). Methodological fit in management field research. Academy of Management Review, 32(4), 1155-1179.
How much has personal income changed the last two years? Identified any problems the government needs to address, and possible solutions?
A project has a net present worth of - $14000 as of January 1, 2018. If a 9% interest rate is used, what is the project NPW as od December 31, 2015?
The relationship between a worker’s daily wage, w, and her daily output, q, is q = 0.1w22 – 0.0005w3 so that the worker’s marginal product with respect to her wage is MPw = 0.2w – 0.0015w2. What is the optimal efficiency daily wage for the firm to pa..
In defining development to include more than just the growth of per capita income, there is an implicit assumption that the growth of per capita income alone is not sufficient to guarantee the reduction of poverty and the growth of self-esteem. Is it..
An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions, is called
Elucidate how many workers the firm should hire for different values of the wage rate in order to maximize profit.
Our recent recession seems to demonstrate again that expenditures and incomes depend on each other. If markets do not self-adjust, how can a decline in spending lead to a negative process that ruins an economy?
After carefully reading the case study, Smart Cookie, answer the following questions in a 5-7 page paper with support from a minimum of two external sources.Apply SWOT, Porter’s Five Forces, or the BCG Matrix to analyze Kraft’s strategic plan to expa..
In 2015 the nominal interest rate is 6% and the general price level is $100. People expect the price level in 2016 to be $104 but it turns out to be $108. The ex-ante real interest rate equals:
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