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The Future 2055 The U.S. economy is at full employment. President North West is spending billions of dollars on military equipment in the U.S. He is also attempting to carry out his promise to put a man on Mars by the end of the decade. He is considering increasing government spending by increasing the space programs budget to reach this goal. You are one of his advisors.
a. Using the AD/AS model graph the economy at full employment. Assume sticky wages.
b. Redrawing the graphs show the economic implications of increasing govern- ment spending on the space program.
c. With words describe what would happen in the short run to prices, output, the interest rate, and employment.
d. Recommend a policy that corrects any problems that spending on Mars mis- sions may be causing in the U.S. economy and show using graphs how this policy helps?
Construct a table showing the (net) marginal revenue product derived from assembly worker employment and how many assemblers would Just Bikes employ at a daily wage rate of $100? Explain your answer and show all calculations.
Normal 0 false false false EN-US X-NONE X-NONE Explain the multiplier intu..
A risk adverse individual has to choose among $100 with certainty and a risky option with two equally likely outcomes, $100-x and $100+x. Use graph or math to show that this person's risk smaller, the smaller x is (the less variable the gamble is
Explain and discuss the differences between private goods, public goods, natural monopolies, and open-access goods.
WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
Suppose a firm is producing 1,000 units of output. Its average fixed costs are $100. Its average variable costs are $50. What is the total cost of producing 1,000 units of output?
Imagine a situation in which a toxic substance risk can be reduced only by some combination of precautionary measures taken by both the user of the toxic substance and the potential victim. do they both provide efficient precautionary incentives fo..
European markets for DVDs There are several markets in which a "hardware-software" linkage is important. This difficulty examines supply and demand forces for an emerging market,
A news magazine offers students a discount on the regular subscription rate. The total number of subscriptions is optimal, and, at the current prices, the marginal revenue from the last subscription sold to a student is $6, while the marginal revenue..
ethanol is a motor fuel manufactured from corn, barley, or wheat, and it can be used to power the engines of many autos and trucks. suppose that the government decided to probide a large per-unit subsidy to ethanol producers.
Assume that expectations of productivity are slow to adjust. Further assume that A had been increasing by 2% a year. Now suppose that A increases by 6% in period t. This increase in productivity growth will cause:
In a market economy, the price system facilitates allocation of resources. Discuss how a manager may contribute to the profit maximization goal of a firm by studying managerial economics.
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