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Elucidate wether each of the following evens shifts the short-run aggregare supply curve, the aggragate demand curve both or neither. For each event that does shift, a curve draw a diagram to illustrate the effect on the economy.
a. households decide to save a larger share in their income.
b. Florida oranges groves suffer prolonged period of below freezing temperatures
c. Increased job opportunities overseas cause many people to leave the country
Suppose now the price of a cell phone minute falls to $.50 per minute. Show how this will change the budget line.
Explain how are money cost and opportunity cost related to each other. If markets function well, they are closely related. They are always identical in any economic system.
One important difference between an entrepreneurs also a manager is which the former gets into a market before demand increases, while the later gets into the market after the shift.
At Illustrate what value would the minimum wage have to be set so to the firm would make zero economic profit from employing an additional low-skilled worker to clear woodland.
Apply the decision-making model developed. What are the basic steps in all types of decision making processes.
What are the factors that affect pay differentials? How does each factor increase or decrease relative wages?
Develop a plan to propose taxes for your town, create a report in that what are the main factors that you will consider while selecting taxes to be imposed on Small Business Owners, Property Owners, and Individuals.
Remaining group did not have jobs, except all said they would like one. 5 of this group had not looked actively for work for 3 months.
The same size of word for data and instructions, what is the size of each data register. Elucidate what is the size of the instruction register of the computer in the fist question.
Producing nations outside the organization, like Britain and Norway, should do their share and cut production.
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
Explain the effects of monetary policies on the economy's production also employment
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