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1. Draw a graph to illustrate the following:
a. A Phillips Curve based on the assumption of a vertical longrun aggregate supply curve
b. The effect of a change in inflationary expectations on a recently stable Phillips Curve c. Unemployment caused by a recently enacted minimum wage law
2. Obtain data on "average hourly earnings of production workers" and the unemployment rate for your state or area over a recent 2-year period. Has unemployment increased or decreased? What has happened to wages? Does the pattern of unemployment help explain the movement of wages? Provide an explanation.
1. How do you know that the firm represented in the graph above is a purely competitive firm 2. To maximize profits, this firm will produce at what output level (one letter) 3. Explain why this MR=MC position is the profit-maximizing position for any..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following compo..
You are planning to purchase your first home five years from today. the required down payment qill be $50,000. you currently have $20,000, but you plan to contribute $500 each quarter to a special savings account until you purchase the home.
What happens to the natural rate of unemployment and potential GDP if structural unemployment falls to 1.5 percent with other types of unemployment unchanged from part (a)?
Now draw a supply curve that represents the combined supply of these two firms
What is the marginal cost of producing a 301s unit A 401st unit If you are comfortable doing so, you may answer this question by writing down the marginal cost function directly, rather than recalculating total cost for q = 301 and q = 401.
Fit the logarithmic form of your demand function for your category of expenditure for the periods 1959-1990 and 1959-1994 and perform the Chow test of predictive failure.
the cost of equipment replacement is 150000 every 6 years, beginning 6 years from now. How much money is required in the trust fund now to build the engineering laboratory and maintain its perpetual operation and equipment replacement? The interes..
What are the advantages and drawbacks of the United States relying so heavily on income taxes?
What real-world considerations absent in the problem above might provide reasons to favor an admission fee?
w=10, r=25. The price of output is constant at $50. The production function is f(L,K) = L^.5K^.5.If the current capital stock is fixed at 1600 units, what is L* in the short run How much profit will the firm earn
What methods are used in starting squirrelcage induction motor? Which method is used in what size of motor? Which is the most common method and what is its superiority?
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