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Question1. Explicitly define both fiscal and monetary policy.
Question2. The 5-recent or historical government actions dealing with the macroeconomic policy. For each scenario estimate if it represents fiscal policy or monetary policy, and describe your reasoning.
[A] President Obama has proposed a budget for the next year and the House of Representatives has proposed their own budget that has major differences with the President's.
[B] To avoid a stalemate with Congress that could have prevented any new legislation from being passed, the President and Congress, in December 2010, reached an agreement on extending the Bush era tax cuts for an additional two years.
Question3. You have learned that Keynes and Friedman sharply differed on some basic ideas of how the Federal government should conduct economic policy. Which of the two economists do you agree with more, and explain
Describe the pricing strategies in monopolistic competition, oligopoly, and monopoly market models. Explain which market structures are price makers and price takers. What is the difference in the demand curves and why.
For many years, your company has been protected through patents, Technological change and introduction of new products have been slow.
The manager of a public utility supplying electricity to a significant portion of a geographic region presides over an electrical generation facilities that can make electricity using either natural gas or oil,
Show the effects of a price ceiling and a price floor on a market. As for what happens with valuing is different than equilibrium, a rate Floor is Minimum wage where wage rate is bigger than the rate at equilibrium.
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
Assume that you get a summer intern job and a recession start while you are there. Prepare a memo to your boss, who is a member of Congress,
Having a little trouble setting this problem up. Would appreciate the detailed set up and solution. A production function has 2 inputs - labor and capital. Both are perfect substitutes. Existing technology permits 1 machine to do work of 3 workers..
You're an entrepreneur and you've opened a restaurant in a nice area of town. Describe at least two long run decisions which you require to make about the business.
Describe and discuss; Use the concepts of economies and diseconomies of scale to describe a firm's long run Average Total Cost Curve.
Using such areas as producing and information technology or any related industry or areas that have had high job growth rates explain a scenario that would cause a shift in labor supply and demand.
Suppose that the American imports of wine are a small part of total world wine production, draw a graph for the United States market for wine under free trade.
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