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(Long-Run Adjustment)The ability of the economy to eliminate any imbalances between actual and potential output is sometimes called self-correction. Using an aggregate supply and aggregate demand diagram, show why this self-correction process involves only temporary periods of inflation or deflation.
Suppose the government imposes a price ceiling of $50 on a market characterized by the following information:Qd = 700 - 2P Qs = 100 + 4P Calculate the magnitude of deadweight loss from the price ceiling.
For each case outlined above, find MPP and APP for each input, holding the other input constant at some predetermined level. What is the relationship between MPP and APP in each
A "mathematically fair bet" is one in which the amount won will on average equal the amount bet, for example, when a gambler bets, say, "$100 for a 10 percent chance to win $1000 ($100 = .10 x $1000). Assuming diminishing marginal utility of dolla..
The subsection "The Rational Expectations Equilibrium Approach: Empirical Evidence" investigates the rational expectations hypothesis for the United States. Do the same analysis for Australia.
What has happed to health care costs compared to other consumer spending? What does this imply for the US debate on health care?
Be sure to indicate the direction of change in Real GDP, the Price Level and the Unemployment Rate. Label all curves and axis for full credit.
Does this distinction make economic sense? How might one draw a sensible line between a benefit conferred and a harm prevented?
1. suppose the demand for a product is given by p 50 - q. also the supply is given by p 10 3q. if a 12 per unit
Assume the economic activity of the economy in a given year consists of the following: Steel producers fabricate Php. 4 billion of farm machinery, which is sold to farmers; Farmers produce 40 million sacks of rice, which is sold for Php. 25 billion ..
Use the arc-approximation formula to calculate the price-elasticity of demand coefficient of a firm's product demand between the (quantity, price) points of (100, $20) and (300, $10). (b) Calculate the cross-price elasticity of demand coefficient ..
1. If your bank held 3% of the units issued by a unit trust and the mortgages in the trust repaid $15,000,000 in interest and $2,300,000 in principal in its first year, how much principal and interest would your bank receive that year
Find out the IRR, payback period, Discounted Payback period, NPV, and profitability index if the initial cost is $28,000. Should the company consider investing in the project
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